Out with the new, in with the old

Release date: May 15, 2009  /  Print This     RSS    

Even though the economy is showing some hope of recovering, the last thing people need in their mailbox is yet another monthly bill. So, it seems like a logical choice to forego new car payments by holding on to a current automobile. And, apparently, many people are choosing to preserve their financial resources by doing just that.

According to numbers compiled by the market research firm R.L. Polk, the median age of passenger cars today is a record 9.4 years. The trend will likely continue, as consumers, fearful of the economy, hold on to their existing vehicles as long as possible. Better product quality for both domestic and foreign models is another big reason cars and trucks are enjoying longer useful lives.

Still, aging cars and trucks need service, and while car dealerships are quiet, service shops are buzzing. Cost saving options are sometimes appropriate, but a reputable shop will still deliver a safe, quality repair after suggesting ways to save you money. When choosing a shop, consumers should also remember that the best choice is often one recommended by family or friends.

"We’re finding that our services are in high demand despite the challenging economy," said David Lapps, president of Maaco Collision Repair & Auto Painting. "People are realizing that investing in their current cars presents a value that just can't be denied. Plus, the money saved by avoiding monthly car payments over several years can help provide some financial security.

“On a newer vehicle, fixing up damaged panels and seamlessly repainting the area will protect the value of the car. As for older cars, a new paint job can actually increase the value,” Lapps added.