Americans Are Pouring $15 Billion Into Aging Pickups Instead Of Buying New Trucks

We know you can’t turn back the clock, but we wouldn’t mind returning to a time when full-size pickups were simple, stripped-down, work-duty affairs, and they cost less than a large sedan, and we called them “half-ton” trucks.With the average price of a basic, no-frills full-size pickup creeping toward $40,000,we don’t even need to debate whether the cost of entry has gotten too high. New trucks are simply too expensive, and we’re holding onto our old pickups for longer these days, even if that means spending more money to keep them running.

The Average American Truck Is Now 12 Years Old – And That’s No Accident

According to a 2025 report from Mobility Global, the average vehicle on the road last year was 12.8 years of age. This marked two years in a row of this number jumping by two months year over year, meaning the average vehicle on the American highway is demonstrably getting older.

This tracks pretty closely with the average new car price. Cox Automotive put the number at $49,353 in February, this year. In November 2024, the number was more like $47,724. Five years ago, the average new-vehicle transaction price was around $45,031. But here’s what the dealerships don’t want you to focus on: what those payments actually cost you over five years.

We’re Spending A Lot Of Money On The Aftermarket These Days

Credit: Toyota

An interesting way to measure the prevalence of older trucks on American highways is to look at aftermarket expenses. Consider that pickup truck modifications make up 30% of aftermarket sales, or around $15 billion in total, and the average repair bill is up by 33% since 2021, at around $838.

According to American Trucks, performance upgrades are especially popular among truck owners, as they essentially allow you to update your truck on your own terms, for far less than you’d spend on a brand-new pickup. A one-time payment of a few thousand dollars may seem steep at first, but it could save you several times that much money in monthly auto loan payments.

What Will A New Truck Cost You In 2026?

Credit: Roush Performance

So we know Americans are spending $15 billion to keep old trucks running. Here’s why: we did the math on what a new one actually costs you per month. Checking out the big three, we get the following base MSRPs.

• Chevrolet Silverado 1500 Work Truck: $39,695
• Ford F-150 XL: $37,290
• Ram 1500 Tradesman: $42,025

The most affordable of the bunch is the F-150 XL. If we assume 5% interest, 5% sales tax, a $10,000 down payment, and a five-year loan term, that gives us a total purchase cost of $43,010, with $3,856 going to the interest, $1,864 going to taxes, and $550 a month going to paying off the loan. That’s according to our math. You’ll want to check the auto loan calculator and run your own numbers for a more personalized estimate.

​​​​​​​Sources: Cox Automotive, American Trucks, Yahoo Finance, Mobility Global

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This article originally appeared on CarBuzz and is republished here with permission.