Buying used cars with 100k
Discussion
(Pls disregard if you have money to burn, this thread will make no sense to you!!)
Something I have been mulling over... Does it make sense to buy a used car with 100k miles on it?
I bought a 330d 52 plate with 100k on it 4 years ago for 7k, put 65k miles on it over the last 4 years and it is now worth 2k on a really good day. Can't claim to have treated it perfectly, but it has been great. So, 5k in 4 years, can't really complain.
But... looking at spending a smidge more this time round, poss 13-15k on a 6 year old disco 3... Same principle, have it 4years, put 60 odd k on it. 4 years from now I can't risk it being worth sod all and a b
h to sell if I have put that kind of money into it. I will need to recoup something. My pondering is... Will a ten year old disco with 160k be impossible to sell and get any money back out of? Is there ceiling to how much money one should put into a 100k car motor or does it always relate to the value the car started out at?
Make any sense?!
Something I have been mulling over... Does it make sense to buy a used car with 100k miles on it?
I bought a 330d 52 plate with 100k on it 4 years ago for 7k, put 65k miles on it over the last 4 years and it is now worth 2k on a really good day. Can't claim to have treated it perfectly, but it has been great. So, 5k in 4 years, can't really complain.
But... looking at spending a smidge more this time round, poss 13-15k on a 6 year old disco 3... Same principle, have it 4years, put 60 odd k on it. 4 years from now I can't risk it being worth sod all and a b
h to sell if I have put that kind of money into it. I will need to recoup something. My pondering is... Will a ten year old disco with 160k be impossible to sell and get any money back out of? Is there ceiling to how much money one should put into a 100k car motor or does it always relate to the value the car started out at?Make any sense?!
I bought my BMW for £3k 18 months ago with 110k miles on the clock. It now has nearly 124k (recently showed 123456 on the odometer...). I believe that I could sell the car now for over £2.5k.
Plus I've seen these cars with over 250k miles, so I'll need to put a LOT of miles on this car yet before it wouldn't sell (assuming it's still working when I come to sell). I don't anticipate losing 50% of the purchase price.
I see what you're saying though, there will always be people out there that won't touch higher mileage cars, so it's best that if you're going to buy one yourself, you buy one near the plateau of the depreciation curve.
Plus I've seen these cars with over 250k miles, so I'll need to put a LOT of miles on this car yet before it wouldn't sell (assuming it's still working when I come to sell). I don't anticipate losing 50% of the purchase price.
I see what you're saying though, there will always be people out there that won't touch higher mileage cars, so it's best that if you're going to buy one yourself, you buy one near the plateau of the depreciation curve.
jedwa115 said:
But... looking at spending a smidge more this time round, poss 13-15k on a 6 year old disco 3... Same principle, have it 4years, put 60 odd k on it. 4 years from now I can't risk it being worth sod all and a bh to sell if I have put that kind of money into it. I will need to recoup something. My pondering is... Will a ten year old disco with 160k be impossible to sell and get any money back out of? Is there ceiling to how much money one should put into a 100k car motor or does it always relate to the value the car started out at?
Make any sense?!
I've just looked on Auto Trader for 10 year old Discos with over 100k on them. There are a few about, and it looks like a price range of approx £6-9k. So you could end up losing a fair bit; but given this sort of car I don't know what sort of trouble you will have in selling it.h to sell if I have put that kind of money into it. I will need to recoup something. My pondering is... Will a ten year old disco with 160k be impossible to sell and get any money back out of? Is there ceiling to how much money one should put into a 100k car motor or does it always relate to the value the car started out at?Make any sense?!
Why spend so much? Spend £6-9k on one that is 8 years old and >100k miles. Tuck the remaining £6-7k away in a savings account, end up with a Disco with over 200k miles on and worth perhaps £4-5k (seems to be the bottom end of the good ones) after 4 years.
At that sort of age and mileage you save money by not worrying about dealer servicing. I service my BMW myself (keeping all receipts), which saves me a fortune. So the ~£0.5-1k a year in depreciation you lose will be offset by the £500 a year in basic servicing you will have saved.
All hypothetical of course.
Theres a real stigma with mileage in this country, i'm not sure what its like in others.
Car enthusiasts know that mileage isn't the be all and end all, if its been looked after, parts changed etc etc but the general public seem to think there going to implode at a certain mileage.
I don't know a lot about disco's but i think i'd do as suggested above to limit losses.
Car enthusiasts know that mileage isn't the be all and end all, if its been looked after, parts changed etc etc but the general public seem to think there going to implode at a certain mileage.
I don't know a lot about disco's but i think i'd do as suggested above to limit losses.
m3jappa said:
Theres a real stigma with mileage in this country, i'm not sure what its like in others.
Car enthusiasts know that mileage isn't the be all and end all, if its been looked after, parts changed etc etc but the general public seem to think there going to implode at a certain mileage.
I don't know a lot about disco's but i think i'd do as suggested above to limit losses.
Making the average person believe that cars are on their last legs once they have reached over 70k / 5 years old is the greatest trick the motor industry ever pulled...Car enthusiasts know that mileage isn't the be all and end all, if its been looked after, parts changed etc etc but the general public seem to think there going to implode at a certain mileage.
I don't know a lot about disco's but i think i'd do as suggested above to limit losses.
I don't think mileage matters.
I had a very low mileage 10 year old car (22k on the clock) and when it came to selling it on nobody cared. They just offered me the same price as other cars on the market because it was still 'just a 10 year old car'
All that happens is that when people are looking to buy a car they will choose yours first because of the low mileage, but they will not pay more for it (or least, not much more). Thats my experience at least.
I had a very low mileage 10 year old car (22k on the clock) and when it came to selling it on nobody cared. They just offered me the same price as other cars on the market because it was still 'just a 10 year old car'
All that happens is that when people are looking to buy a car they will choose yours first because of the low mileage, but they will not pay more for it (or least, not much more). Thats my experience at least.
I have no problem with buying at over 100K miles, over the last 6 years or so most of my cars have had 6 figures mileages. Sometimes I've been lucky and what i've bought has needed only basic maintenance, others have required more in depth care. All offset by the lower purchase prices of course.
It is just a number, the car doesnt know, so many variables it is irrelevant, people get excited over low mileage cars but it isnt the be all and end all, time has an effect as well, you can leave a brand new car outside and it will eventually age even without using it, even inside things degrade, ozone kills tyres and hoses for example.
Makes good sense financially.
Just bought a 5 yr old Bmw with 180k miles, fsh, low price, will run it for 3 yrs and buy another high miler.
People who think 100k miles with fsh is big mileage are living in the dark ages,' we are not driving Morris marinas these days, cars cope with huge mileage if looked after.
Just bought a 5 yr old Bmw with 180k miles, fsh, low price, will run it for 3 yrs and buy another high miler.
People who think 100k miles with fsh is big mileage are living in the dark ages,' we are not driving Morris marinas these days, cars cope with huge mileage if looked after.
jedwa115 said:
(Pls disregard if you have money to burn, this thread will make no sense to you!!)
Something I have been mulling over... Does it make sense to buy a used car with 100k miles on it?
I bought a 330d 52 plate with 100k on it 4 years ago for 7k, put 65k miles on it over the last 4 years and it is now worth 2k on a really good day. Can't claim to have treated it perfectly, but it has been great. So, 5k in 4 years, can't really complain.
But... looking at spending a smidge more this time round, poss 13-15k on a 6 year old disco 3... Same principle, have it 4years, put 60 odd k on it. 4 years from now I can't risk it being worth sod all and a bh to sell if I have put that kind of money into it. I will need to recoup something. My pondering is... Will a ten year old disco with 160k be impossible to sell and get any money back out of? Is there ceiling to how much money one should put into a 100k car motor or does it always relate to the value the car started out at?
Make any sense?!
Anything with 150k+ miles on it is going to be in the bargain basement section.Something I have been mulling over... Does it make sense to buy a used car with 100k miles on it?
I bought a 330d 52 plate with 100k on it 4 years ago for 7k, put 65k miles on it over the last 4 years and it is now worth 2k on a really good day. Can't claim to have treated it perfectly, but it has been great. So, 5k in 4 years, can't really complain.
But... looking at spending a smidge more this time round, poss 13-15k on a 6 year old disco 3... Same principle, have it 4years, put 60 odd k on it. 4 years from now I can't risk it being worth sod all and a b
h to sell if I have put that kind of money into it. I will need to recoup something. My pondering is... Will a ten year old disco with 160k be impossible to sell and get any money back out of? Is there ceiling to how much money one should put into a 100k car motor or does it always relate to the value the car started out at?Make any sense?!
You know that those sort of mileages needn't mean unreliable, hence why you're happy to run a car upto them.
I would reduce your budget so that normal depreciation brings the car into bargain basement level regardless of mileage over 4 years, so spend 6~7k.
Or buy an older car with lower mileage for the same money, so that in 4 years time when you've done 60k miles, the total will be ~100k, that's the only way you'll get half decent money back for it when you come to sell.
Sucks to have to play the mileage game, but unless you're running sheds there's no alternative unless you've got money to burn.
tercelgold said:
rallycross said:
Makes good sense financially.
cars cope with huge mileage if looked after.
I have seen several cars with "engine seized, no oil" for £500 spares only. Volvo S60, Focus ST, Renault Megane III.cars cope with huge mileage if looked after.
As for disco3s, the 105k service is every expensive as its a belts change as well, buying a higher mileage one will also likely be on new wheel bearings, ball joints and new anti roll bar bushes. These 3 things on discos tend to go at 100k as the car weighs 2.7 tons so can wear them out. So buying a cheaper high mileage one could save you a few quid if the above parts have been done.
I do know of one 55 plate Disco3, with nearly 440k on the clock, ex HA wombles and now a tow car. Has has a few things but on original engine and turbos etc.
Buy one with bills to back up a life of good maintanance and continue it with decent parts and it will still be worth good cash in a few years time.
My next landrover will likely have near or above 100k on it, wont bother me as long as it has reciepts to back up a life of careful maintanace.
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