It seems that after several years of new vehicle leasing gaining popularity, the pendulum is swinging in the other direction. Recently, accounting for up to a third or more of all transactions, consumers have rejected the notion of trading in their cars for new models as often as their mobile phones, and are re-embracing the notion of long-term ownership.
According to Cox Automotive, lease penetration fell to an average of 19% of all new vehicles delivered last year. Much of this dip can be attributed to the price that new cars, trucks and SUVs have been re-leasing, largely due to higher transaction prices and rising interest rates. In many cases, the sticker shock of leasing another new vehicle has caused lessees to buy their rides at the end of the term (at below-market prices last year) and hold on to them.
A study by personal finance website TheZebra.com found that owners now keep their vehicles for an average of eight years, which is about 60% longer than a decade ago. This has pushed the average age of all vehicles on the road in the United States to a record high of 12.1 years.
Whether you’re buying a new or used model, those looking to adopt a “buy and hold” strategy for their automotive investments will want to choose a model that’s expected to go the distance without breaking the bank in terms of ongoing maintenance and repairs. .
As a result, those who want to buy a true long-distance runner are advised to buy a pickup truck or an SUV, since the former is indeed the most difficult road trips. And this is especially admirable considering that these are the vehicles most likely to be subjected to heavy hauling and towing.
That’s according to a study recently released by auto marketplace iSeeCars.com of more than 260 million cars that changed hands between 2012 and 2022. The data determined that the Ford F-150 Super Duty full-size pickup truck is historically the most durable. model, with 49.1% of those built capable of exceeding the 250,000 mile mark. By comparison, the website says the average vehicle has only an 11.8 percent chance of making it past 250,000 miles, with trucks averaging 25.9 percent and SUVs at a projected 15.0 percent. A dying breed in more ways than one, only 8.6% of traditional passenger cars are expected to reach 250,000 miles or more.
Toyota models lead the longevity pack, accounting for eight of the 23 vehicles that can be expected to go the distance. We present the full list of top rated models below.
“Vehicle lifespans continue to grow, with more than 20 cars now having a 20 percent or better chance of lasting at least a quarter of a million miles; for most of the automobile’s history, 100,000 miles they considered the maximum useful life.” says iSeeCars.com executive analyst Karl Brauer. “The cost of new and used cars has never been higher, which means a long vehicle life has never been more attractive to buyers on a budget.”
Unfortunately for new vehicle buyers, some of the top rated models are no longer in production. These include the Toyota Avalon sedan, the Toyota Land Cruiser and Honda Element SUVs, and the Chevrolet Avalanche pickup truck. However, they are still plentiful on the used car market and seem to make the right choices, even with six figures already on the odometer (provided, of course, they’ve passed a mechanic’s inspection and title search do not reveal unpleasant surprises) .
The top model in the longevity report among SUVs is the aforementioned Toyota Land Cruiser, which is among the longest-running models in more ways than one, first hitting US dealerships in 1958. The car with more likely to last beyond 250,000 miles is the full one. full-size Toyota Avalon sedan, which was replaced by the Crown in 2023. The Toyota Sienna, which is still alive and worth noting, leads the shrinking pack of minivans that age well.
The full report including lists of the longest-lasting models in each vehicle segment can be found here. Meanwhile, here are the vehicles that iSeeCars.com has determined are the models most likely to reach and exceed 250,000 miles, with the percentage of those who have accomplished the feat.
- Ford F-350 Super Duty (49.1%)
- Toyota Land Cruiser (47.9%)
- Toyota Tundra (47.9%)
- Toyota Sequoia (47.1%)
- Ford F-250 Super Duty (43.6%)
- Honda Pilot (42.7%)
- Toyota Tacoma (41.7%)
- GMC Sierra 2500HD (41.3%)
- Chevrolet Silverado 2500HD (41.2%)
- Toyota 4Runner (41.0%)
- Toyota Avalon (33.1%)
- Chevrolet Silverado 1500 (31.0%)
- Acura MDX (29.2%)
- Honda Element (27.8%)
- Honda CR-V (27.5%)
- Honda Accord (27.1%)
- Chevrolet Avalanche (26.7%)
- Ram 2500 (26.3%)
- Ram 3500 (24.3%)
- Toyota Sienna (23.3%)
- Subaru Outback (22.3%)
- GMC Yukon XL (21.3%)
- Toyota Camry (20.4%)
Source: iSeeCars.com.
The content above was 100% generated by a human contributor.
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