Thanks to the ongoing recession, drivers accustomed to trading in their vehicles often are warming to the idea of a longer covenant with their cars, the Wall Street Journal reports. While the concept might puzzle the less well-heeled, “the 3-year ownership mentality has crumbled,” one insider said. And that means—gasp!—checking oil and tire pressure and spending more on maintenance.
“There are so many little things that can go wrong,” one driver said of the vagaries of long-term ownership, like surprise $250 headlight repairs and other mundane, yet expensive, fixes. Still, the cost of keeping an older car, even with maintenance, is often cheaper than new car payments. Still, “I really miss having the latest gadgets,” said one reluctant old-car owner. (Read more used cars stories.)