Why It Pays More Now to Drive Your Car Until the Wheels Fall Off

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 1 May 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Cars are one of few consumer products with a growing lifespan. Last year, U.S. vehicles’ average age hit a record high of 12.5 years. This may be due to higher prices to buy and maintain a car. WSJ reporter Joe Pinsker joins host Ariana Aspuru to discuss the math behind driving your car until it’s beyond repair. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Oracle.
0:03.0	AI is storming every industry, but how do you compete without costs spiraling out of control?
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0:20.4	Do more and spend less like Uber, the Premier League and Oracle Red Bull Racing.
0:25.0	Take a free test drive at oracle.com slash Spotify.
0:29.0	Here's your money briefing for Wednesday May 1st. I'm Adiana Sputu for the Wall Street Journal,
0:38.0	filling in for J.R. Waylan. If the wheels haven't fallen off yet, it might not be the right time to buy that new car.
0:47.2	Rising prices mean that people are holding on to what they already have, and they're finding that the math can be in their favor if they keep fixing their beat up old cars.
0:58.0	Costs of car ownership in general have just been increasing a lot as the cost of maintenance and repairs have risen too.
1:05.0	It was common for a car to be near the end of its life at 100,000 miles, but now it's pretty
1:11.0	common to go well above that.
1:13.0	Wall Street Journal reporter Joe Pinsker joins me.
1:15.6	After the break. Must remember do not forget.
1:33.0	forget.
1:35.0	Remind me to bring photo ID.
1:38.0	Reminder, set.
1:40.0	Babe, can you make sure I don't forget my photo ID when I vote?
1:44.6	All right, love.
1:47.6	However you remember, you'll need photo ID to vote on the 2nd of May.
1:52.3	Find out more at Electoral Commission.org.
	...

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