How Much Does Mileage Affect Car Value? 10 FAQs Answered!

Are you wondering how much does mileage affect car value? Well, the short answer is: A lot!

However, mileage is not the only factor that decides the value of your car. There are a lot of other crucial elements that play an important role in calculating your car’s value. Let’s answer all your questions regarding the impacts of varying mileage on the car’s value in today’s blog post.

So, without any further ado, let’s get started!

1. Why Does Mileage Affect a Car’s Value?

Mileage impacts a car’s value because it reflects wear and tear. A car is nothing but a collection of simple mechanical and electric components. The more you drive, the more these parts wear out. This includes all the car parts, such as tyres, engine components, and suspension.

Each of the car’s components has a certain lifespan. For instance, a car’s alternator will likely fail after 80,000 miles. It costs about £275 to £700 to replace an alternator. So, if someone buys it, they should factor in the cost of the alternator’s replacement, as they might need to replace it soon.

This logic applies not only to the alternator but almost all the parts of your car. Therefore, buyers adjust the value of your car according to its mileage.

2. Do High-Mileage Cars Have Low Valuation?

Yes, high-mileage cars generally have lower valuations. Buyers have to account for future maintenance expenses when buying a high-mileage car. So, they subtract this amount from their offers, potentially lowering the car’s resale price.

Additionally, most car warranties come with mileage limits, and high-mileage cars may not meet those requirements. This can further reduce their appeal and value.

3. What is Considered a High Mileage for a Car?

Even high mileage is not a static factor. It varies depending on the car’s age and type. What’s considered high mileage for one car may not be considered high enough for another.

Generally, a car with over 80,000 miles is considered high mileage if it’s under five years old. For older cars, over 150,000 miles is often seen as high.

See, an average car drives no more than 10,000 miles a year. So, even a 2-year-old car with 30,000 miles on the clock might be seen as high mileage. On the other hand, sometimes, a 10-year-old car with 80,000 miles may not be considered a high-mileage car.

Then there’s the car type. Diesel cars tend to last longer than petrol cars, so they can handle higher mileage better. For example, a diesel car with 200,000 miles might still be reliable.

However, a petrol car with the same mileage might be nearing the end of its life. This is because diesel engines are often built to withstand more stress and wear over time.

Now that we have hybrid and electric vehicles storming the car markets, they also have different considerations. Since EVs and PHEVs have fewer moving parts, they can handle higher mileage without as much wear on critical components.

However, their batteries may degrade over time, affecting their range and efficiency. So, this becomes a crucial factor in determining the resale values of electric and hybrid cars.

4. What Problems Do You Face with a High-Mileage Car?

High-mileage cars are more prone to problems than newer cars with lower mileage. However, this is highly dependent on your maintenance schedule. Still, here are some problems you are more likely to face with a high-mileage car:

• Failure of Brake System Components: Brake system components are usually the first to fail as you drive more. Brake pads, rotors, and callipers wear down with mileage. If any of these components fail, your on-road safety can be at risk. After 40,000 miles on the clock, you should be ready for these replacements.
• Failure of Suspension Components: Next comes the suspension. Struts, shocks, and bushings deteriorate over time, affecting ride quality and handling. If your car has over 50,000 miles, you might be looking at a significant maintenance bill in this regard.
• Failure of Electrical Components: Issues with sensors, ignition systems, and alternators are also quite common in high-mileage cars. You should brace yourself for a comprehensive electric check after 60,000 miles or so.
• Fluid Leaks: Leaks are another common issue with high-mileage cars. Cars use a variety of fluids, including engine oil, coolant, brake oil, and transmission fluid. These fluids pass through several channels that are normally sealed. These seals can deteriorate over time, causing leaks. Fluid leaks can lead to several issues, including engine overheating.
• Critical Engine Component Failure: Finally, the critical engine components give out in high-mileage cars. One example is the timing belt. The timing belt synchronises the engine’s crankshaft and camshaft. It is a crucial component, and its failure can lead to significant engine damage. A timing belt needs replacement every 60,000 to 100,000 miles. The same is the case with other critical components like cylinders and valves.

5. What Factors Other Than Mileage Affect Car’s Price?

Car valuation is a combination of several different factors. Mileage is just one piece of the puzzle. Here are some other factors that are considered while calculating your car’s value:

• Condition: Condition has got to be the most important factor. A well-maintained car, both inside and out, will retain more value than one that’s neglected. Therefore, regular maintenance is crucial. A documented maintenance history can reassure buyers of the vehicle’s reliability and care.
• Age: The next most important factor is age. People often confuse mileage with age when they are two distinct factors. As previously mentioned, a newer car can also be considered a high mileage and vice versa. However, age still plays an important role in determining your car’s resale value.
• Model and Brand: Brands like Toyota and Honda hold their value better than others due to their reputation for reliability and durability. These brands often command higher prices because of their perceived reliability. The popularity of specific models can also influence their value, with in-demand models generally retaining their value better.
• Market Demand: Market demand for a specific car type is also very crucial. For instance, there was a time when SUVs were very popular. So, if you had an SUV, you would get a higher price. Currently, the EV revolution is in full swing. Therefore, EVs command a higher resale value.
• Unique Features: Then, there are the unique features or upgrades that can increase or decrease a car’s value. This might include performance enhancements, premium sound systems, or advanced safety features. For instance, a car with a rare colour might sell for more, even with high mileage.

6. Do High-Mileage Cars of All Brands Lose the Same Value?

No, high-mileage cars from different brands don’t lose value equally. Each brand’s reliability, durability, and specific warranty coverage are considered. This is where brands like Toyota, Honda, and Ford shine. These brands are known for their reliability and durability. Therefore, cars from these brands tend to hold their value better, even with high mileage.

On the other hand, brands with a reputation for higher maintenance costs might depreciate faster, even with low mileage. This is particularly true for luxury brands. Premium brands like BMW, Mercedes-Benz, or Audi might lose more value due to expensive parts and servicing.

7. How Long Do Cars Usually Last?

In the UK, the average car lifespan is around 13 years. However, this can vary greatly based on how well you maintain your vehicle. Proper care can extend its life significantly. For instance, regular oil changes, tyre rotations, and timely repairs can keep your car running smoothly for longer. With regular servicing, some cars can easily exceed 200,000 miles without major issues.

8. Is Mileage Crucial for Classic and Vintage Cars as Well?

Mileage is less important for classic and vintage cars. What matters more is the car’s condition, rarity, and historical significance. A well-restored vintage car with high mileage might still be highly valuable.

In fact, some collectors prefer cars that have been driven and maintained rather than those left untouched. This is because a car that’s been used and serviced is often more reliable and enjoyable to drive. Additionally, a classic car’s provenance, ownership history, and any notable events it’s been part of can impact its value.

For example, a vintage car that’s been in a famous movie might sell for a premium, regardless of its mileage.

9. Is it Difficult to Sell a Car with High Mileage?

Selling a high-mileage car can be challenging, but it’s not impossible. If you’re looking to sell a car with high mileage, we can help. Exchange My Car connects you with specialist buyers of high-mileage cars. Where on other online platforms, you can only sell cars under a certain mileage, we don’t restrict you. You can sell any type of car with any number of miles through us.

We’ll show you multiple offers so that you can compare the market and choose the best one. These offers come from buyers who are experts at repairing the problems you might be facing with your high-mileage car. Therefore, they are willing to give you your highest offers.

10. How to Get the Best Price While Selling a High-Mileage Car?

Generally, high-mileage cars are sold for less than low-mileage cars if all the other factors stay the same. However, there is a lot you can do to enhance the appeal of your high-mileage car. Here are some tips to help you get more money for your high-mileage vehicle:

• Service the Car: Service your car properly to show it’s well-maintained. This includes oil changes, new filters, and any necessary repairs.
• Clean and Detail: To attract buyers, make the car look its best. A clean interior and exterior can make a big difference in first impressions.
• Provide Records: Offer detailed service records to prove its history. This includes maintenance logs, repair invoices, and any inspection reports.
• Highlight Positives: Mention any upgrades or unique features such as new tyres, a recent paint job, or advanced safety features.
• Time You Sale: Timing is everything when it comes to selling a car. Keep an eye on market trends and seasonal fluctuations. For example, selling a convertible during summer might fetch a higher price due to increased demand.

Wrapping Up: How Much Does Mileage Affect Car Value?

Mileage significantly impacts a car’s value, but it’s not the only factor. You just need to understand how mileage affects your car’s value and take steps to maintain it. Whether you’re buying or selling, knowing these dynamics can help you make informed decisions in the UK car market.

Are you looking to sell your high-mileage car? You can sell it through Exchange My Car! With no mileage restrictions, free collections, and fast payments, we make the whole process of car selling seamless and quick. Experience the unmatched speed and convenience by choosing to sell your car with Exchange My Car.

Please visit our blog page for more valuable insights and expert opinions on car selling in the UK.