The average new-car buyer holds on to his or her car for 8.4 years, according to a new study by car search engine iSeeCars.com.
But for many other types of cars, such as sports cars, their owners are more likely to keep them longer, said iSeeCars chief executive officer Phong Ly.
“Sports cars typically aren’t daily drivers and don’t accrue high mileage as a result, so it takes them longer to show signs of wear and tear,” Ly said in a news release.
According to the study, owners keep sports cars and SUVs the longest. Of the top 10 new cars that owners keep the longest, sports cars make up five of the top 10. SUVs show four models on the list.
The new vehicle that owners keep the longest? The Toyota Land Cruiser wins that distinction, with owners keeping it for an average of 11.4 years before selling it.
“The current generation of the iconic Toyota Land Cruiser dates back to 2008, and has only had a mild refresh in 2016,” said Ly. “Along with being a reliable and capable off-road SUV that lasts a long time, owners may opt to keep their older models because they don’t look dated.”
To identify which models are kept the longest, iSeeCars analyzed more than 5 million vehicles sold by their original owners. For the top 10 models, the average length of ownership ranges from 9.7 to 11.4 years. That is 14.9% to 35% longer than the overall average of 8.4 years.
Two additional truck-based Toyota SUVs made the list. Those include 4Runner at No. 7 and the Sequoia at No. 9.
“Toyotas are known for their reliability and longevity, so owners may choose to keep them on the road because they are still running well and don’t require expensive repairs,” Ly said. “These vehicles also tend to be family vehicles with standard or optional third-row seating, so parents are likely to keep them until they no longer require a large vehicle.”
With five models, sports cars are the most-represented vehicle segment on the list. Those are the Corvette at No. 2, the Mercedes-Benz SL-Class at No. 3, the Audi TT at No. 4, the Ford Mustang at No. 6 and the Porsche 911 at No. 8.
“Because sports cars aren’t typically used as primary vehicles, owners likely aren’t as concerned with having the latest and greatest technology and safety features,” Ly said. “With the exception of the Porsche 911, which is the coupe body style, the sports cars on the list are the convertible versions. Convertibles are the least-driven vehicle segment and accrue 60% less mileage than the average vehicle.”
The Toyota Avalon is the only sedan on the list, at No. 10.
“The Toyota Avalon is a spacious sedan that offers ample cargo room that is consistently at the top of its class for vehicle rankings,” Ly said. “It’s a reliable alternative for those who want a comfortable vehicle but don’t require the cargo space of an SUV or a minivan.”
iSeeCars also examined how long owners hold onto the nation’s most popular cars after purchasing them new. The average length of ownership for these new cars before getting resold ranges from 6.8 to 9.6 years, and none of the most popular cars made the overall top 10 list.
That top 10 list of vehicles owners keep the longest can be found below.
iSee Cars top 10 new cars owners keep the longest
— Toyota Land Cruiser: 11.4 average years of ownership
— Chevrolet Corvette: 10.5
— Mercedes-Benz SL-Class: 10.3
— Audi TT: 10.2
— Ford Expedition: 10.1
— Ford Mustang: 10
— Toyota 4Runner: 10
— Porsche 911: 9.9
— Toyota Sequoia: 9.9
— Toyota Avalon: 9.7