Mileage obsession
Discussion
Why do people go overboard about mileage. It remains a selection criteria and will ultimately have a downward impact on the price as the mileage rises. However, people that dismiss a car simply because it has more than 50K on the clock seems ludicrous to me. A 2006 being eight years old, with average mileage will have 64000 miles (8x8k) I'd hardly consider that unreasonable. I would have thought that servicing and condition would predominate. Like with any car the value will diminish, the higher the mileage. There are cars out there with 70-80K for sale and somewhat surprisingly the sticker prices are relatively high. They still get sold.
Everybody, myself included, remain vigilant concerning depreciation. However, seeing some peoples reaction to cars with upwards of 70K on the clock, one would imagine the it to be a catastrophic purchase. Get the impression that some think that buying a car at say £20K with 70-80K miles which will be worthless a year or so later . That level of depreciation just doesn't happen on any car that age. Theres no denying it will depress the price. If I get my crystal ball out, I would imagine a £20K car with 70K Miles, purchased now, after two years average motoring (2X8K) will still sell for around the £15/16K mark. This makes for £2K/£2.5K per year. That in my eyes remains 'reasonable'.
Afterwards, there are obviously factors that will influence the decision to buy. However, is a car with 80K miles, no track use, properly serviced and maintained, any more of a liability than a 20K miles car, that has done ten or more track days.
Mileage remains a selection criteria. It is just completely unreasonable to imagine that there will be an unending supply of cars 6-10 year old cars with under 25K miles on the clock.
I also ask myself why do people buy a car and then drive it less than 1000 miles per year. I adore my car and love driving it. Whats the point otherwise in buying it. It goes witout saying that if I dont put any miles on it it will depreciate less but then whats the point. Its a car. If you don't want to lose money, keep it in the bank.
Either way, even high mileage Lotus cars depreciate less than many other cars and the pleasure of owning one is surely about driving it and not simply looking at it standing still in the garage every day.
Everybody, myself included, remain vigilant concerning depreciation. However, seeing some peoples reaction to cars with upwards of 70K on the clock, one would imagine the it to be a catastrophic purchase. Get the impression that some think that buying a car at say £20K with 70-80K miles which will be worthless a year or so later . That level of depreciation just doesn't happen on any car that age. Theres no denying it will depress the price. If I get my crystal ball out, I would imagine a £20K car with 70K Miles, purchased now, after two years average motoring (2X8K) will still sell for around the £15/16K mark. This makes for £2K/£2.5K per year. That in my eyes remains 'reasonable'.
Afterwards, there are obviously factors that will influence the decision to buy. However, is a car with 80K miles, no track use, properly serviced and maintained, any more of a liability than a 20K miles car, that has done ten or more track days.
Mileage remains a selection criteria. It is just completely unreasonable to imagine that there will be an unending supply of cars 6-10 year old cars with under 25K miles on the clock.
I also ask myself why do people buy a car and then drive it less than 1000 miles per year. I adore my car and love driving it. Whats the point otherwise in buying it. It goes witout saying that if I dont put any miles on it it will depreciate less but then whats the point. Its a car. If you don't want to lose money, keep it in the bank.
Either way, even high mileage Lotus cars depreciate less than many other cars and the pleasure of owning one is surely about driving it and not simply looking at it standing still in the garage every day.
Edited by simpo555 on Sunday 13th July 18:10
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