KEY POINTS
  • Over time, cars have become more expensive — but also more durable.
  • The average age of a car on U.S. roads rose to a record 12.2 years in 2022.
  • Here are the models with the greatest potential lifespan: The top two are Toyota SUVs, with the Sequoia and Land Cruiser both able to last nearly 300,000 miles.

New cars are getting increasingly expensive. But they're also more durable than before, which means drivers have a better chance of getting their money's worth.

As the average transaction price for new cars reached an estimated $45,872 in November — the highest on record, according to a joint forecast from J.D. Power and LMC Automotive — the average age of cars on the road also hit an all-time high of 12.2 years in 2022, a separate report by IHS Markit found.