How many miles do cars last before they become worthless?
I keep hearing people saying Toyotas and Subarus hold their value and whatnot, yet I owned a Subaru with 250,000 miles and it was a pain to sell(even though it was still in pretty good condition), couldn't find a buyer until I dropped it down to $1000. Everything worked on it and it was reliable.
So is there like a general mileage range where a car becomes "worthless" in a sense that nobody will buy it? If I buy a new car with 0 miles, at what mileage should I sell the car before it is hard to sell? Would it matter between brands(looking at Jeep Renegade, Ford Escape, and a few Toyota models)? 60k miles? 100k miles? 120k miles? 150k?
I have a Toyota Yaris sedan… It's great for longevity.
Volkswagens are suppose to be a step up… I guess it depends on your income and how much money you're able to keep in a bank.
You might want to dump cars at the 150,000 (maybe even 125k) miles mark. For me, i don't intend to sell this car and hope it'll be good to me.
Most (not all) cars are pretty well shot at 200,000 miles, depending on the level of care they've had, some are still going strong at that mileage.
People know they're going to have to keep putting money into a car that old. So they don't want to pay a lot for it.
Look at it this way: There's not a lot of cash difference between a $1,000 car and a car you junk and get $200 for.
But, as long as a car runs well, it's utility value to the owner can easily be far more than it's current cash value.
Subarus are considered as "oddballs" to most people, so the only ones looking to buy them are usually people who already own or have owned them… For other vehicles: they have value til something major in the components or body is damaged
A lot depends on how often and as well serviced… I was in a VWpassat taxi last year drove perfect without a single rattle 480.000 miles. My mate in france has a Renault espace.640.000 km his son has a Peugeot 1.1 litre 106.370.000 km non of the above have ever had any work done on them just proper service… Two years ago we had a ford transit van in our garage it was new on august 1st it came in on 4th December.68.000 miles in 4 months! And it was in poor condition… My advice? Longlife? Use fully synthetic oil.MOBIL1 is best bar none. And change all filters.air.fuel.oil at least once a year
10 years ago, I bought a 94 buick for $2200. Its still my only car.
It becomes essentially worthless when it costs more to repair than its worth.
Hopefully I can get another 5+ years out of it.
If my motor or transmission were to go out, the car would become essentially worthless. The cost of the tow home would be about what the car is worth broken.
The car had 60k when I bought it, and now it has 89k. I don't drive much. I've had to do about 10 various repairs over the years. Battery, alternator, water pump, fuel pump, tires & a few other things. All of those are considered minor. A motor or transmission is considered major.
The car is not worth replacing a motor or transmission unless I could do it myself and I can't.
In general, most people begin to get concerned about a car that has 100,000 miles on it, especially if they don't know much about cars. Other people who know more about cars, and know to have a mechanic inspect a car before a purchase, won't get seriously concerned until a much higher mileage, like 175,000 or 200,000.
At least 200,000 for any new car
The Subaru may have been hard to sell but it was far from worthless. Cars lose significant value at different stages.
The first major loss comes at the time of purchase. A brand new car loses value the minute you drive it off the lot.
The second major lose in value comes at 60K miles or whenever the factory warrant expires.
After that the biggest loss in value comes at 100K miles.
Once a car is over 100K miles the condition of the car plays a greater role in the value than the mile.
After 200K, there aren't many cars to make it past this point so anyone considering a vehicle with excessively high miles is expecting to buy cheap since the car is nearing its end of life. People buy cars for dependability and value and any car over 200K isn't going to provide much of either.
Your Subaru was worn out. No surprise it didn't sell. Once they get over 150k people get wary.
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