Americans are keeping their old cars (not just for the AM radios)

It will be no surprise to most people that Americans can't afford new cars and are keeping their old cars on the road for longer - not because the cars are so great, but because they can't afford new ones.The Boston Globe said the old-car-keeping trend started during the pandemic, when new car parts were unavailable and used cars were commanding record prices, especially for those people who'd moved out of dense urban areas served by public transit and found themselves in less-dense settings were a car was de rigeur.The average age of vehicles on the road in the US has been steadily climbing, but surged upwards during the pandemic, as it did after the economic crisis of 2008, as this chart shows: The rising cost of borrowing has many not wishing to (and not be able to) afford a vehicle loan and the rising cost of everything that is making life unaffordable overall.