Top 10 states & markets where oldest vehicles are sought
According to research conducted by ValuePenguin, the states where people look to buy the oldest used vehicles are evenly split among the Midwest and West.
The insurance division of LendingTree pinpointed the Top 10 states and markets where consumers are seeking to take delivery of older models. Overall, researchers found that the average age of used vehicles people want is 6.47 years old.
The company discovered these trends by examining more than 240,000 auto finance inquiries for used vehicles on the LendingTree platform between January and July.
ValuePenguin determined the 10 states where people look to buy the oldest used vehicles and the average age of those units include:
1. Idaho: 7.98 years
2. South Dakota: 7.98 years
3. Wyoming: 7.71 years
4. Iowa: 7.67 years
5. Nebraska: 7.66 years
6. Kansas: 7.62 years
7. Montana: 7.52 years
8. New Mexico: 7.25 years
9. Indiana: 7.04 years
10. Oregon: 7.02 years
Researchers then shared the specific markets where potential buyers reside along with the average age of what they want to purchase:
1. Spokane, Wash.: 8.04 years
2. Boise, Idaho: 7.74 years
3. Wichita, Kan.: 7.71 years
4. Des Moines, Iowa: 7.52 years
5. Harrisburg, Pa.: 7.47 years
6. Ogden, Utah: 7.42 years
7. Omaha, Neb.: 7.39 years
8. Albuquerque, N.M.: 7.20 years
9. Knoxville, Tenn.: 7.17 years
10. Chattanooga, Tenn.: 7.14 years
“Independent of individual state factors, cars continue to get older. The average age of cars and light trucks has increased steadily for 20 years. New vehicles have become more expensive, and more durably built vehicles allow people to travel more miles before they get scrapped,” ValuePenguin auto insurance expert Divya Sangameshwar said in a report that included more data and is available via this website.