When you shop dealers or surfing the Internet for a vehicle your very first thoughts are price and miles
Yes we all want low mileage... however you can come across a vehicle with high mileage that's been maintained much better than identical same model with much lower mileage...this is where the process becomes tricky...you must judge performance overall condition along with justifying what the price difference should be for fair market value
Example... 2 identical vehicle's being 2 model years old with same features and both excellent condition, except one has got 25K the other 37K... what would be a fair price difference, for many consumers the 12K difference would be about a year of driving.
If these 2 vehicle's are priced in the $ 20.000 range or less the higher mileage vehicle should have a sticker price from $ 1200. to $ 2000. less, if it's a luxury model asking price range $30,000 or more the depreciation factor will be much higher " $5000. as an example is not out of the question "
When a dealer bids at a dealer auctions, miles will be one of the main factors to determine a fair price for a vehicle being 2 model years old, in otherwords a dealer may pay the $1200 to $2000. more for the lower miles.
Factors to consider as a buyer " given the above choices "
(A) If I buy at the higher price- I could drive about another year before I reach the miles of the lower priced vehicle
(B) If I buy at the lower price - the remainder of Mfg warranty will expire much sooner
When buying a brand new car the depreciation can be as high as 30% from what you will have paid out the door, it becomes a very negative investment should you want to sell after the first or second year, towards the end of the 3th year and beyond the investment will level out.
Buying an economically priced used car being two to six model years old average depreciation factor will be about $ 2500. a year while luxury cars will have a much higher yearly depreciation factor.
Shopping for a vehicle 5 model years or older
Miles - Year - Make or model takes a back seat to CONDITION ... a vehicle with 120K can be in much better condition than same vehicle with 60K, don't shop miles - shop condition.
Sorry to come across a little harsh with this following statement, but it blows my mind when some idiot in an auto forum does not recommend or will not buy a certain type car because of consumer reports or recalls ,,, when buying a car beyond 4 - 5 model years old, where does that statement come into play ??? Sure there are lemons in every batch, buying a vehicle this old that still performs well it's beyond any problems that may have been and should not be a buying concern.