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How Does Mileage Affect The Value Of My Car? 

mileage on car

If you have a car you want to sell, you need to know all of the factors that can affect the price you can ask for. Of course, age and condition can impact your pricing, but one of the factors that can have the most drastic effect is mileage. Keep reading to learn more about how mileage affects the value of your car. 

How is Value Calculated?

When you’re looking to buy or sell a used vehicle, keep in mind the several factors that help you calculate the price. The make, model, year, mileage, engine size, and fuel type are the most common factors that will have the biggest impact on pricing. 

How Mileage Affects Value

A car with fewer miles on it will have a higher value than a high-mileage vehicle. The more miles on the odometer, the larger you can expect repair and maintenance bills to be. Even if the car isn’t very old, more miles means more wear to the engine, tires, and body. 

The average American driver puts around 13,500 miles on the odometer every year. If your car is five years old and has around 27,000 miles on it, you’re right on track. However, if you drive much more than that and have double the miles, your car will be worth less. 

Let’s look at some examples. If we were to compare two cars with the exact same specs – make, model, year, etc. – they should fetch the same price. However, let’s say one car has 40,000 miles and the other has 32,000. With 20% more miles, that vehicle will have a value around 20% less than its low-mileage counterpart. 

Other Factors To Watch Out For

Mileage isn’t the only factor that determines the value of your car. Here are a few more things to watch out for when buying or selling a used car. 

  • Wear and tear. Normal wear and tear from daily driving is expected, but if the condition of the car seems a lot older than its actual age, the price will drop. 
  • Broken parts. Even if the car drives well and has low mileage, broken parts will drop the value. For instance, the air conditioning doesn’t cool properly, or the electric windows don’t work.
  • Lack of maintenance. Not keeping up with oil changes and other regular maintenance can age a vehicle, despite low mileage. Make sure to have your car regularly serviced to keep its value up. 
  • Several previous owners. The more owners the car has had, the lower its value. 

Contact Boston Junk Car

Ready to get rid of your old and beat-up car? Boston Junk Car offers cash for junk cars! We will come to tow your car for free and offer you cash based on the value of the individual car parts. Give us a call today at 617-719-6436.

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