What Is More Important When Buying a Used Car: Miles or Age?
Miles vs. Age Quick Facts for used car Buying
A newer model used car can have more miles than a comparable vehicle that is significantly older.
Newer used cars with low mileage might be well-positioned to provide long-lasting, reliable service.
Some auto brands are more reliable over the long haul than others.
When buying a used car from a private seller or dealership, 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. Used cars with lower mileage usually cost more than those with higher mileage. It makes sense, right? But let’s explore what’s more important. Is it miles or age? We’ll explain how to navigate, especially in today’s market, where the used car supply remains thin.
Car Miles: What You Need to Know
Age of a Car: What You Need to Know
Does Mileage Really Matter When Buying a Used Car?
Car Miles: What You Need to Know
In some cases, a newer car can have more miles than a comparable vehicle that is significantly older. Additionally, some miles weigh harder on an automobile than others. For example, if a vehicle drives a lot of city driving (stop and go), the car likely experiences more wear and tear on components such as brakes and transmission than vehicles mainly driven on the highway.
Read on to find out what else is essential to consider.
What Are Good Miles for a Used Car?
What determines a “high-mileage” car? There’s no hard and fast rule. However, according to the most recent data from the United States Department of Transportation’s Federal Highway Administration, the average car owner puts about 14,489 miles annually on their vehicle.
So, for a four-year-old car, you might reasonably expect it to have around 58,000 miles. We suggest you consider a 4- to 6-year-old vehicle with less than 50,000 miles. But it’s essential to consider how an owner drove the car, whether in a city, on a highway, or a mix of miles, and how well the driver cared for the automobile. Being wary of used cars with unusually low mileage is also important.
Are Some Cars Better Than Others With a Lot of Miles?
Some auto brands (such as Honda and Toyota) earned a reputation for being more reliable over the long haul than others. While not always scoring near the top of reliability ratings, Jeep garnered a loyal following among motorists who keep them for extended periods. Pickup trucks, too, hold value in part because of their workhorse durability and construction.
However, that doesn’t mean every model from the higher-rated brands will always outperform those from competitors.
Again, a vehicle with less taxing highway mileage will likely have more life left in it than one with heavy city miles that age a car more quickly.
How Many Miles Should a Used Car Have?
An ideal odometer reading doesn’t exist. A pampered vehicle with 100,000 miles might have a longer future than a car with skipped oil changes but only 50,000 miles. It’s best to get a car checked out by a certified mechanic. Ask for service records on any used vehicle to find out if its current owner takes it for regular service.
Pros of Buying a High-Mileage Car
Save money.
Depreciation happens more slowly.
Lower cost of car insurance.
Odds are good for getting a solid vehicle since cars last longer.
Cons of Buying a High-Mileage Car
Higher cost to maintain.
Potentially, there is no manufacturer warranty or extended warranty options.
Could miss out on newer technology and car features.
If financing, you’ll find higher interest rates for used vehicles in general.
How Many Miles Is Too Many on a Used Car?
Many factors contribute to a used car’s quality and remaining useful life. Owners who follow the manufacturer’s maintenance schedule and avoid harsh driving might keep their vehicles on the road for hundreds of thousands of miles.
However, a used car can have too many miles to be eligible for financing. Lenders typically have mileage restrictions for their auto loans. A major bank might exclude vehicles with 125,000 miles or more. Smaller banks and credit unions are usually more restrictive, limiting loans to cars with fewer than 100,000 miles. By the way, lenders also have vehicle age restrictions for their loans.
Age of a Car: What You Need to Know
When buying a used car, the age of the vehicle under consideration merits serious consideration, too. Newer used cars with low mileage (at or below the average 14,489 miles per year mark mentioned above) might be well-positioned to provide long-lasting, reliable service.
According to a study from S&P Global Mobility, the average age of a car on U.S. roads is now 12.6 years old. That’s a new high and two months older than the average in 2023.
Reviewing a vehicle’s service history and getting a clear picture of how the car got used in its past will help you understand how well the vehicle will perform as it ages.
A vehicle used for short- to medium-length commutes in stop-and-go traffic is bound to have taken on more wear than one that accumulated most of its miles on long highway trips. A vehicle with detailed service records showing that the used car seller routinely maintained it offers an advantage over those that don’t deliver such care.
Safety Features to Consider
When buying a car, you will need to consider the number of its safety features. Advanced technology and driver assistance offerings on cars and trucks have improved in recent years. Older models may not offer as many. Keep that in mind.
Here’s a sampling of top safety features and advanced technology offerings:
Is Age or Mileage More Important When Buying a Used Vehicle?
What Matters More in a Used Car: Mileage or Age?
Find the right balance that works for you.
When the time comes to purchase a used car, a familiar dilemma often arises: the battle between age and mileage. As potential buyers, we’re confronted with the question of whether an older car with low mileage is better than a newer car with higher mileage, or vice versa.
The Age Factor
Age, when considering used cars, encompasses not just the number of years the vehicle has been on the road, but also the effects of time on various components. A car that has been parked for an extended period might show signs of wear even if its odometer reads a relatively low mileage. Rubber components, such as belts and hoses, could have degraded, and internal fluids might have deteriorated, potentially leading to unexpected repairs.
Additionally, advancements in automotive technology have brought about improvements in safety features, fuel efficiency as well as informational and entertainment systems. An older car might lack these modern amenities and safety enhancements, making it less appealing compared to a newer model. However, it’s important to note that some vintage car enthusiasts actively seek out older vehicles for their novelty, charm and unique characteristics.
The Mileage Myth
Mileage, on the other hand, serves as a general indicator of a car’s usage and potential wear and tear. Lower mileage vehicles are often perceived as having less mechanical stress and thus are believed to have more life left in them. However, this isn’t always a straightforward equation. A car that has been predominantly driven on the highway might have less wear than a city-driven car with the same mileage due to the differences in driving conditions.
Modern engines are designed to last longer than those from previous decades. Regular maintenance and adherence to recommended service intervals play a crucial role in preserving the health of a vehicle, regardless of its mileage. Consulting maintenance records can offer valuable insights into the care the car has received.
Prioritizing the Factors
Ultimately, the decision to prioritize age or mileage depends on a variety of factors, including the car’s intended use, budget and personal preferences.
If reliability and safety are paramount, a newer car with moderate mileage might be the ideal choice. This ensures access to the latest safety features and improved fuel efficiency while minimizing the risks associated with aging components.
Conversely, if you’re a vintage car enthusiast or have a limited budget, an older vehicle with lower mileage could align with your goals. Conducting a thorough inspection and requesting maintenance records becomes even more critical in this scenario.
The Balanced Approach
Striking a balance between age and mileage often leads to the best outcomes. A well-maintained car, regardless of its age, can offer years of reliable service. Likewise, a low-mileage car that has been neglected or poorly maintained might end up costing more in repairs than a slightly older, well-maintained counterpart.
Whatever you decide, we’re here to help whenever you’re ready for your next Consumers auto loan.
