Because cars are being built better than ever, Lachnit said, Americans are holding onto them longer. As a result, the average age of vehicles on the road has climbed to an all-time high of 11.5 years, according to new data from industry analyzer IHS Automotive.

That means one out of every four vehicles in the U.S. was built before 2000, with many of these vehicles trading hands multiple times over the course of their mechanical lives.