The economic downturn has forced a lot of people to adopt more frugal practices in most areas of their life and that includes how they treat their cars. In previous years, motorists may have opted to purchase a new vehicle if their current ride was past its prime. But now they are more apt to hang on to their cars longer and get regular maintenance to save money in the long run, and according to The Capital, it's paying off.
There is a stark contrast between how long drivers are keeping their cars now compared to before the recession hit in 2008. The research firm Polk says that consumers are holding on to their cars an average of 7.2 months longer than they did before '08, and in 2010 the average car on the road was 11 years old. With the economy still in flux, analysts say that the best bet is to usually to keep up with maintenance for the time being.
"They don't know what's going to happen with the economy, or with their jobs," industry insider Jack Bell told the publication. "They already know what they've got, so they fix what they've got."
Additionally, statistics show that even if consumers want to get behind the wheel of something different, most of them are used cars. The Capital reports that 70 percent of all purchases in 2010 were used cars.
Whether you're looking for a way to keep your current vehicle on the road longer or purchase a used car, New Jersey State Auto Auction offers you with both. In fact, New Jersey Auto offers a full auto service center located in Jersey City, and also provides drivers with discounted repair and maintenance.