Study: Drivers Waiting Longer Between Buying New Cars

A new study from Polk, one of the foremost automotive data and marketing firms, shows that your next car purchase could be more important than you might think.

The recession has changed driver’s attitudes and buying habits, and drivers are now sticking with their cars for much longer than they used to. Dealerships used to expect drivers to buy a new car or truck every three to four years, but that number has doubled to six to eight years.

Why the change? Well, cars are built to last longer. Drivers don’t have to replace their car as often. Unfortunately, that is not the only reason. The recession has left many consumers wary of major purchases like a new car, and if they can delay that purchase for a few years, they are more likely to put it off. To make matters worse, surveys have shown that American consumers hate negotiating auto pricing and financing. No wonder drivers are delaying that trade-in.

The only way that the auto industry can change this trend is by offering more affordable car buying options, streamlining the car buying process, and working to make the car buying process pleasant and simple. At Approved Loan Store, that is exactly what we are doing. We give our customers a better car buying experience. Whether they have good credit, bad credit, or no credit, we work tirelessly to get them into a car that they want at terms they can afford.

Are you ready to try a different car buying experience? Fill out our secure online auto loan application here, and get the latest news and car buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

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