How Does Mileage Affect The Value Of My Car?

How Mileage Affects A Car’s Value

In general, the higher a car’s mileage, the lower its value. This is because mileage offers a not-quite-direct correlation to a car’s general wear and tear. The more mileage a car has, the more likely its parts and pieces need to be replaced.

Buying a car with low mileage is a common shorthand method for identifying a car that will be reliable for a long time. On the other hand, a car that already has a high mileage might be nearing the end of its lifespan. Therefore, its value will go down to reflect its perceived time left on the road.

Figuring Out How A Used Car’s Mileage Affects Value

Oftentimes, you will get a very different offer for two identical cars of the same year, make and model if they have drastically different mileages.

For example, a used 2014 Hyundai Sonata with under 50,000 miles will be worth more than $12,000. However, the same car with more than 80,000 miles will sell for less than $7,000. That’s nearly a 40 percent drop in price for 30,000 miles of difference on the exact same vehicle.

However, the difference in price will go down as cars get older. For instance, a 2008 Honda Civic with roughly 150,000 miles might sell for $3,500, while the same vehicle with over 200,000 miles will sell for just under $3,000. That’s a 20 percent drop in price for over 50,000 miles of difference.

Because of this variability, you cannot easily determine the value of a car by mileage simply by subtracting a particular percentage. Instead, you must take all factors into account, including a car’s age, repair history and perceived reliability.

The best way to figure out the effect of mileage on a car’s value is to compare car sales in your zip code for your vehicle. In general, mileage will make a very big difference in the value of the car.

How Much Can I Get For My Car With High Mileage?

Figuring out how a used car’s mileage affects value can be complicated. In general, calculating how much you can get for your car requires directly comparing prices in your area. Keep in mind that additional problems to your car, like mechanical issues or damage to the body, will further lower its value.

How much you can get for your car still depends on a variety of factors including its make and model. Some brands, like Toyota, might be less affected by high mileage than others. This is because those brands are associated with reliability, and many buyers believe that cars made by those makers will last longer.

In general, you can expect to knock several thousand dollars off the asking price for a car with high mileage compared to identical cars with lower mileage.

Why Sell My Car To WeBuyJunkCarsFast?

At WeBuyJunkCarsFast, we know how to determine a fair market offer for your car of any make, model or mileage. We can give you an offer on your car in under 90 seconds. Our offers take into consideration the car’s year, make, model, trim, any repairs or upgrades you’ve made and more. You can get a guaranteed offer by uploading photos of your vehicle and its VIN.

All offers from WeBuyJunkCarsFast include FREE towing and FREE title transfer. You never have to pay any fees for using our service. Additionally, we can schedule your free pickup in under 48 business hours, so you can get paid in a matter of days.

Our offers come with a seven-day guarantee, giving you time to think it over before completing the sale. Our service is the fast, safe and easy way to sell your junk car online for cash. You can complete the entire service from the comfort of your home. Find out how much your car with high mileage is worth with our easy quote retrieval system now.

How To Sell My Car To WeBuyJunkCarsFast

Selling your car to WeBuyJunkCarsFast is easy. All you need to do is get the quote, schedule the pickup and get your payment.

The tow truck driver will arrive with a check in hand. Once you hand over the keys and sign the title, you’ll be paid on the spot. It’s that simple! Find out how much you can get for your junk car and start selling it today.