How many miles are too many when shopping for used cars?
Often, the only real clues we can get regarding the condition of a second-hand car are based on mileage, appearance, and drivability. Given two cars, same year, make, and model, it might seem obvious that the one with 50,000 miles is valued higher than the one with 200,000 miles. Is mileage alone enough to make a good second-hand car decision?
How do you know the mileage is correct when buying a new car?
So how do you know the mileage is correct when buying a new or used car, how can you know for sure? Odometer tampering is a huge problem when buying a used car and the reason is simple, lower mileage used cars sell better, and they’re worth more money.
How much does a high mileage car cost?
Take a look at the following example: We have a 2007 Pontiac G5 with 119,000 miles for $6,000 and the same car with 69,000 miles for $11,000. After 25,000 miles, the first car has a 144,000 miles and sells for $4600 which is a depreciation of $1400.
How many miles should a ten year old car have?
The average ten-year-old car should have around 120,000 miles on the odometer, anything significantly more or less could indicate trouble brewing. Here are a few examples of how mileage alone can be misleading when considering the value of a used car:
When does mileage improve in a new car?
And yes mileage will improve in some cars though usually it’s only 1-2 mpg. Mine have always improved slightly after the first few thousand miles, typically maxing out at about 5,000 to 10,000 miles. Perhaps it takes me that long to get the proper “feel” of the individual car. Call it a myth.
So how do you know the mileage is correct when buying a new or used car, how can you know for sure? Odometer tampering is a huge problem when buying a used car and the reason is simple, lower mileage used cars sell better, and they’re worth more money.
What’s the average number of miles on a car?
“Clearly some of these vehicles are used for work and they are driven more miles but also perhaps get better maintenance,” Ly told CBS MoneyWatch. Overall, pickups are driven longer, with the average listing for all models showing 90,000 miles compared to 75,000 for the average car listing.
What’s the price of a car with 200, 000 miles?
For instance, a 2003 Ford F-150 with 228,000 miles has an asking price of $4,900. A 2001 Honda Accord sporting 250,000 miles is on sale for $3,000. Those prices are 10 to 15 percent of list price for a well-equipped new 2014 version of the same model. Your car, SUV or pickup may never hit 200,000 miles.