Let’s say you like to buy a new car and keep it well past the last loan payment. You’ll be happy to know a new study by auto research site iSeeCars.com has identified which models most original owners keep 10 years before selling. (One man who held onto his Dodge Charger for 46 years recently learned it could be worth more than $1 million as it’s one of only 503 made of the model.)
The list is dominated by SUVs and minivans — only two sedans made it into the top 10. About a fourth of the 2005 models sold recently had been held for 10 years by just one owner.
To determine which ones were most held on to, iSeeCars.com looked at all 2005 models sold in the first half of this year. It then looked for one-owner cars using data from CarFax, which tracks the history of individual vehicles. The researchers then screened those 400,000 vehicles to see which models were most often held by one owner for 10 years.
The predominance of SUVs and minivans suggests growing families hang on to their vehicles. “These are basically family vehicles, and it could be that buyers originally did research to find something reliable and long-lasting,” iSeeCars.com CEO Phong Ly said.
Toyota and Honda models also predominate among these most-held vehicles. “It’s not surprising that Toyotas and Hondas made the list, since they base their reputation on reliability,” said Phong.
Other notable points in the report.
–Toyota Prius ranks No. 2 on the list despite earlier concerns about how long the batteries in the gas-electric hybrid would last.
–No domestic-brand models made the top 10, all of which had 23 percent or more of owners holding them for 10 years. Two large Detroit SUVs did finish just above the average of 13.5 percent of long-term holders: Chevrolet Suburban with 14.3 percent and GMC Yukon with 14.9. Chevrolet’s Silverado pickup was just below the average with 13.1 percent.
–Luxury cars like the BMW5 series came in near the bottom on the list of long-term holders because these vehicles are most often leased for three years or so. Domestic models popular with high-turnover commercial fleets and rental car companies also ranked low on the list. That included Chevrolet Impala, Chrysler Sebring and the Ford Taurus.
Read on for a look at current models of the top 10 cars in order most often held for 10 years.