What is a good mileage for a used car?
When buying a used car, one of the most important factors to consider is mileage. Mileage refers to the number of miles a car has been driven, and is an indicator of how much wear and tear the car has undergone. So, what is considered a good mileage for a used car? Let’s find out.
Calculating Annual Average Mileage
The average car gets in 10,000 to 12,000 miles per year, so used cars with an annual average lower than that can be considered as having good mileage. To calculate the annual average mileage of a used car, simply divide the odometer number by the car’s age in years. For example, a car with 50,000 miles that is 5 years old would have an annual average mileage of 10,000 miles per year (50,000 divided by 5).
What Mileage Range is Considered Low?
While the average annual mileage of 10,000 to 12,000 miles is a good benchmark, different factors such as the car’s make and model, as well as the owner’s driving habits, can impact its value. In general, any car with a mileage of 75,000 miles or less can be considered as low mileage. However, vehicles that have exceeded 100,000 miles may require more maintenance and repairs, which can add to the overall cost of ownership.
It is essential to note that while mileage is an important factor when buying a used car, it should not be the sole determining factor. Other factors such as the car’s condition, maintenance history, accident history, and overall value should also be considered.
1. Is it okay to buy a used car with high mileage?
In general, it is not recommended to buy a used car with high mileage, typically over 100,000 miles. However, if the car has been well-maintained, it may still be a good investment. It is essential to inspect the car thoroughly and get a professional inspection before making a purchase decision.
According to Carfax, high mileage is not necessarily an indication of a car’s condition or value. Many factors can impact the longevity of a car, including its maintenance history, driving habits, and make and model. If the car has been well-maintained and serviced regularly, it can still be a reliable investment.
2. How does mileage impact a car’s value?
Mileage is one of the primary factors that impact a car’s value. As a car accumulates more miles, it undergoes more wear and tear, which can decrease its value. However, lower mileage is not always an indication of a car’s value. Other factors such as maintenance history, condition, and optional features can also impact its value.
According to Edmunds, the ideal range for a used car is typically between 12,000 and 15,000 miles per year. Cars with high annual mileage can depreciate faster, making them less valuable over time. However, it is essential to consider the overall condition of the car and its features when determining its value.
3. How do dealers value a used car’s mileage?
Dealers use a combination of factors to determine a used car’s value, including its mileage. According to Kelley Blue Book, dealers use a tool called a “black book” to determine the value of a used car. This tool takes into account factors such as the car’s make and model, condition, age, and mileage to determine its value. Dealers may also rely on industry standards and third-party appraisers to determine the car’s value.
In conclusion, mileage is an essential factor when buying a used car. Generally, cars with an annual average mileage of 10,000 to 12,000 miles or lower are considered as having good mileage. However, other factors such as maintenance history, condition, and make and model should also be considered.
While buying a used car can be an excellent way to save money, it is crucial to do your research, inspect the car thoroughly, and get a professional inspection before making a purchase decision. By considering all the important factors, you can make an informed decision and get the best value for your money.