The Hot New Car Is Your Old Car

By Jonathan Welsh
Wall Street Journal

For decades, Ashley Fletcher ditched his cars after they reached 50,000 miles. Now he plans to keep his 2004 Lexus RX 330 for two or three more years -- or until it reaches 70,000 miles. If all goes well, he might shoot for 100,000 miles.

Like many drivers, Mr. Fletcher scaled back his automotive aspirations because of the economic downturn. "My portfolio lost about 40% last year, so I'm certainly in no mood to buy a new car," says the retired sales and marketing executive from Pinehurst, N.C. To that end, he's making a point of changing his oil and other fluids regularly and keeping his tires properly inflated to help them last longer.

Until recently, many drivers treated their cars less like transportation and more like handbags, jewelry and other trendy accessories. Drivers craving the latest in mechanical "bling" found easy credit and inexpensive lease deals attractive enough to get a new ride every three years or so.

For complete article - Click Here