When buying a used car How many miles is too much?

When buying a used car How many miles is too much?

There’s no absolute number of miles that is too many for a used car. But consider 200,000 as an upper limit, a threshold where even modern cars begin to succumb to the years of wear and tear.

How much does each mile devalue your car?

The average car can depreciate as much of $0.08 per mile, according to some sources. This means, of course, that your depreciation costs will be higher the more you drive.

What is considered a high odometer reading?

What is considered high-mileage? Typically, putting 12,000 to 15,000 miles on your car per year is viewed as “average.” A car that is driven more than that is considered high-mileage. With proper maintenance, cars can have a life expectancy of about 200,000 miles.

What determines car depreciation?

The two biggest factors that affect car depreciation are your vehicle’s age and mileage. Automakers release new models every year, “so older versions are regarded as less valuable,” says Eric Ibara, director of residual value consulting for Kelley Blue Book. And the more miles on a car, the less it’s worth.

How are used car prices determined?

Because of this, used car pricing is at least partially based on how many miles the car has been driven, and as the number of miles on the car increases, the price of the car decreases.

What is good mileage for a used car?

What is Good Miles for a Used Car? What determines whether a vehicle would be deemed “high-mileage” for its age? While there’s no hard and fast rule, it’s fair to say that the average car owner puts about 12,000 miles annually on their vehicle. So for a car that’s four years old, you might reasonably expect it to have around 48,000 miles.

What makes a used car more expensive to buy?

When buying a used car, it comes down to two things — the miles on the vehicle and its age. Newer used vehicles typically cost more than older ones, as they usually have less wear and tear. And used cars with lower mileage usually cost more than those with higher mileage.

Does the number of miles on the odometer affect a car’s value?

The number of miles on the odometer goes a long way to determining the value and desirability of a used vehicle. The higher the number, the lower the value, and fewer shoppers will probably be interested.