how your car's mileage changes the selling price
DESCRIPTION
Your used car has different mileage milestones. Hitting these milestones affects the price, buyers and things you can do to impact the value your get.TRANSCRIPT
Selling Your Used Car
How mileage milestones impact your used car’s price.
Prepared by
http://999littlebigthings.com/2011/05/09/970-reaching-milestones/
What Your Used Car Miles Mean?
❖ The mileage of your used car means different things to different buyers. !
❖ At each significant mileage band:!
❖ Know who buys?!
❖ How to sell? !
❖ What can you do to impact price?
http://www.flickr.com/photos/bsabarnowl/
Major Mileage Milestones
❖ 36-50,000 Miles !❖ 75,000 Miles!❖ 90,000 Miles!❖ 100,000+ Miles
http://obfire.com/2012/04/26/mile-markers-to-be-installed-on-us-54-expressway/
Miles
www.rahulnair.net/blog/2008/04/21/bye-bye-warranty/
36,000 - 50,000 Miles
❖ This is the first major mile milestone. !
❖ Your factory warranty runs out for most cars and some trucks at this mileage. !
❖ Dealers and customers will pay a slight premium if there is still a warranty.
http://inchcapetoyota.wordpress.com/
*** Pro Tip ***
You can buy an extended warranty directly from most car makers anytime BEFORE the warranty ends. These warranties are accepted by any of their dealers [nationwide]. !!
http://pictures.dealer.com/s/subaruofrichmondsoa/1627/05a448e90a0d02b7008d41f2be63d3b0.jpg
Know if your extended warranty can be transferred to another owner. Otherwise you should get a refund for the unused portion of it.
75,000 Miles
❖ The second major [expensive] service is done at 60,000 miles !
❖ Most extended warranties run out at this mileage!
❖ **Sweet spot to sell your car in this time window.
*** Pro Tip ***
This is consider the sweet spot for cars to be sold. There is still demand from dealers and others for cars in this mileage range. If you have already paid for a major service include that in your ad. !!
http://www.flickr.com/photos/latitudes/
90,000 Miles
❖ Third major service (if you do it every 30K miles)!
❖ Perceptions of 100,000 cars are low, so selling before making it to this mileage is smart!
❖ Loans for 90,000 mile cars are harder to get, so spending a lot to advertise your car here may be lost money.
http://www.flickr.com/photos/rickm15/
http://www.flickr.com/photos/snappyone/
Miles
100,000+ Miles
❖ At this mileage most banks will not loan money to a buyer of a car with 100,000 miles. !
❖ 100,000 mile cars taken as trade-ins are traditionally resold by dealers at auctions or to wholesalers.
http://automobiles.honda.com/information/owner-resources.aspx
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