The 30k miles stigma

The 30k miles stigma

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Discussion

BlackR8

Original Poster:

228 posts

23 months

Sunday 22nd September
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Would be interested in peoples thoughts on this. Having been in and around the market for Ferrari and Lamborghini's and other marques in the last few years I have noticed that the prices of the cars that are over around 30k miles are significantly lower in price and tend to hang around for ages for a buyer. This is the case whether it is a Ferrari 355, 360, F430 or 458 etc, and same again with the Lambo's e.g. Gallardo, Hurracan etc.

I assume this is some sort of psychological barrier in peoples minds, and what is concerning is that despite the cars getting older and older this threshold still seems to hold. Which means the older cars have to driven less and less each year to keep under the 30k mark if the owner is looking for a reasonably painless sale when the time comes.

I am assuming the mileage worries comes from the old days of supercars possibly not being robust when it comes to reliability. But with the new cars being so much more reliable and easy to use as a daily driver do you believe that this mileage barrier will disappear or is it here to stay?

Porsche911R

17,580 posts

211 months

Sunday 22nd September
quotequote all
BlackR8 said:
Would be interested in peoples thoughts on this. Having been in and around the market for Ferrari and Lamborghini's and other marques in the last few years I have noticed that the prices of the cars that are over around 30k miles are significantly lower in price and tend to hang around for ages for a buyer. This is the case whether it is a Ferrari 355, 360, F430 or 458 etc, and same again with the Lambo's e.g. Gallardo, Hurracan etc.

I assume this is some sort of psychological barrier in peoples minds, and what is concerning is that despite the cars getting older and older this threshold still seems to hold. Which means the older cars have to driven less and less each year to keep under the 30k mark if the owner is looking for a reasonably painless sale when the time comes.

I am assuming the mileage worries comes from the old days of supercars possibly not being robust when it comes to reliability. But with the new cars being so much more reliable and easy to use as a daily driver do you believe that this mileage barrier will disappear or is it here to stay?
Worse than ever imo, but use the car and sell it cheaper, that’s life.
I sell all my cars sub 30k miles to max return, like you it’s some thing I had noticed so just move my cars on before that.

Helps people get into a cheaper car though so always a market as you buy it cheaper so can sell it cheaper.

60k on sports cars is the BIG sticking number I find.
Unsellable unless daft cheap.

355spiderguy

577 posts

117 months

Sunday 22nd September
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Never understood this mileage thing.

I have always decided the colour and spec of a car that i desire then hunt down or hold out for the right car to come up....mileage not a huge concern.

When i decided on the rare colour of McLaren i wanted, by chance 2 came up at the similar time; one had around 8k miles but 14months older and low on options, the other with 26k miles but had over £50k of options when new; even better that i had hoped to get. It was a no brainer for me especially with the £20k price difference.

To me, a supercar that has 30k miles over a similar car with 5k miles means it has been used and any issues arising have being sorted, rather sitting about doing nothing or been sold as it had too many issues and so offloaded.

I buy on spec, condition and service history; i could only imagine buying low miles leads to anxiety of the next big number it turns in relation to value...ie 5k, 10k, 20k etc....i couldn't be bothered with that.

Crazy4557

272 posts

140 months

Sunday 22nd September
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I have a great spec McLaren 570s bought this year as an approved used car with a years manufacturer warranty. It had 34k miles on it after just 2.5 years and was in mint unmarked condition. I’ll sell for between £75 and £80k next spring, it’ll be the cheapest one out there so I’m confident I’ll find a buyer reasonably quickly.
The mileage didn’t put me off at all, drives perfectly and a safer bet than a garage queen with silly low miles hiding lots of problems if it ever gets used in anger.

mike01606

498 posts

95 months

Sunday 22nd September
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As the saying goes buy cheap, sell cheap....I think people buy cheap then expect it to be worth a lot more.

I have a 360 with close to 50k miles on it (bought with mid-20's). It's relatively worth nothing in the 360 market (probably bottom 5 percentile) so I use it without a thought. I find it refreshing that I can actually drive it.
It's also very well sorted and gets everything it needs, no deferred or hidden issues because as I use it, I want it to be reliable....

If I sold it someone gets a good cheap car they can drive. Still makes no difference to perception though.

thatdude

2,058 posts

73 months

Monday 23rd September
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Is there something significant about 30,000 miles? Are there particularly expensive services to be completed, an expensive overhaul of certain components or something?

There is a similar sentiment in the motorcycling world, where a certain mileage seems to be a sort of cut-off point. I see no issue with "high" mileage bikes providing they've been serviced regularly and looked after. I'd be the same with supercars really if I was able to afford one!

Edited by thatdude on Monday 23 September 08:50

F355GTS

3,491 posts

201 months

Monday 23rd September
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thatdude said:
Is there something significant about 30,000 miles? Are there particularly expensive services to be completed, an expensive overhaul of certain components or something?
nope not at all at least on Ferrari's it's all in the mind

thatdude

2,058 posts

73 months

Monday 23rd September
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F355GTS said:
nope not at all at least on Ferrari's it's all in the mind
at what point do they drop below £10,000...30,005 miles? rofl

davek_964

6,011 posts

121 months

Monday 23rd September
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I wasn't aware that there even was a 30k mile threshold. I know 100k seems to be a barrier, but I assumed it was fairly linear below that - the higher the mileage, the less the car might be worth.

I had my 360 up for sale a few months ago (and that is around 35k miles I think) - and although I admit it wasn't priced particularly high, I was getting serious interest at a sensible price.

rich12

1,661 posts

100 months

Monday 23rd September
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Found the highest mileage Huracan last week with 86,000 miles on it. That still went for £100k (trade) so that surprised me.

andy97

3,637 posts

168 months

Monday 23rd September
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I have recently seen an R8 V8 for sale on AT with 127k miles on it at a dealer. Highest miles I have seen. I thought it was too expensive at £29k but some cars will do the miles!! And plenty of 911 Turbos have done over 100k miles.
(I am ignoring the “R8 isnt a supercar debate”)

WCZ

7,167 posts

140 months

Monday 23rd September
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stigma can be much lower than that, 10,000 miles in an arpeta or something similar is high mileage imo and will devalue the car £100k in some instances

it's a shame really

355spiderguy

577 posts

117 months

Monday 23rd September
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WCZ said:
stigma can be much lower than that, 10,000 miles in an arpeta or something similar is high mileage imo and will devalue the car £100k in some instances

it's a shame really
In that Aperta situation, it would probably still be around £100k more than list!

On the McLaren front, MAC 720S is using his 720 as a daily wracking up decent miles and shall be ironing out any issues whilst doing so...if i were looking to buy a 720 in the future that's the one i would be looking to buy over forecourt ones with 4k miles.

In the 'classics' world, i always found it amazing how these older low mileage Ferraris with say 12k miles reappear for sale years later with the same mileage ( and occasionally lower ) so i would be more comfortable buying one with 30, 40 or 50k miles based on current condition, current maintenance records and how much the owner has used it.

JuniorD

6,566 posts

169 months

Monday 23rd September
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Some prospective buyers might be happier buying a expensive "supercar" that's been clocked back to 29,999 miles over a far cheaper, genuine mileage one hehe

warch

1,722 posts

100 months

Monday 23rd September
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andy97 said:
I have recently seen an R8 V8 for sale on AT with 127k miles on it at a dealer. Highest miles I have seen. I thought it was too expensive at £29k but some cars will do the miles!! And plenty of 911 Turbos have done over 100k miles.
(I am ignoring the “R8 isnt a supercar debate”)
That's why neither of these cars are proper supercars, they're too well made and reliable * /runs/.

I'd have thought though that modern supercars should be good for fairly big mileages if well maintained, the problem is that use, especially on the road does cause wear on all sorts of things besides the engine and drivetrain. I'd hate to think how much a suspension refresh is on a Lambo or something.

  • This is supposed to be a joke, not an incitement to a 25 page flamewar.

355spiderguy

577 posts

117 months

Monday 23rd September
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rich12 said:
Found the highest mileage Huracan last week with 86,000 miles on it. That still went for £100k (trade) so that surprised me.
If that was the yellow one LH16 PET that's the exception to the rule.

An ex Lord Aleem car that has had about 1000 different drivers all thrashing it within an inch of its life.

No ta.

garystoybox

247 posts

63 months

Monday 23rd September
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I know with Ferrari main dealers it was always 20k miles and under to get good price, although this indeed seems to be increasing to 30k, with fairly linear fall off in value. I think the ideal used buy would be something which has racked up a regular 3k p.a. I.e. used enough to keep the juices flowing but not enough to prematurely wear out components. Todays latest supercars do seem to be less susceptible to fragility and so they bloody should be given their cost.
I don’t really agree with ‘buy one with lots of miles as all of the problems will have been ironed out’. Surely these cars should be relatively faultless from new? Personally I’d much rather have a 3-4 year old car with 10k on it than 30k. I do agree that I wouldn’t want one with 500 miles on the clock.

hunter 66

2,836 posts

166 months

Monday 23rd September
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Used to be Ferrrari and Lambo that were milage sensitive...... now it is Porsche , hard to shift a GT model unless it has under 500 miles ..

BlackR8

Original Poster:

228 posts

23 months

Monday 23rd September
quotequote all
355spiderguy said:
If that was the yellow one LH16 PET that's the exception to the rule.

An ex Lord Aleem car that has had about 1000 different drivers all thrashing it within an inch of its life.

No ta.
Goes to show even a seriously abused modern supercar can do the miles without a problem!

rich12

1,661 posts

100 months

Monday 23rd September
quotequote all
355spiderguy said:
If that was the yellow one LH16 PET that's the exception to the rule.

An ex Lord Aleem car that has had about 1000 different drivers all thrashing it within an inch of its life.

No ta.
It wasn't that reg nor was it vat q so not sure if it was or not.