What are the Mileage Points that Affect Trade-in Value?
When people shop for a used vehicle its mileage is one of the top things that are always observed and taken into consideration. Rightly so, as, understandably, vehicles with more mileage on them have been through a longer life and, perhaps, have had to deal with more issues than newer vehicles, and may be closer to the end of their lifespan. Those with fewer miles on it are more appealing as they still have a lot more tread left on their proverbial tires, and are more apt to serve the customer for more years to come. Mileage points are something you should be looking at when trading your vehicle in, with 3 roughly observed marks for you to consider that may affect your value.
Explore more of our highlighted blogs:
48,000 km – 64,000 km Milestone (30,000 – 40,000 Miles)
This first milestone is set as such because it’s often when a new vehicle warranty will expire, or, perhaps, just before, so it gives you time to trade in and deal with any necessities before said warranty does, indeed, expire. If you’re looking at this sort of benchmark to trade in you’ll want to make sure it’s done prior to the expiration, which can help in the trade-in value, and for those buying knowing the vehicle is still relatively early on in its life.
97,000 km – 113,000 km Milestone (60,000 – 70,000 Miles)
This secondary milestone is when age really starts to become a factor. Your vehicle isn’t a young buck anymore with only a couple years on the road under its belt, it’s a veteran that has been through many tough weather cycles and days and days out on the street. Even still, vehicles at this mark have a great deal of life left in them, and can still be particularly valuable if its service has been kept up with and has remained clean. Utilize this potential to your advantage, and sell in this milestone before your vehicle truly becomes old, and maximize all the value you can.
Below 161,000 km Milestone (100,000 Miles)
This mark is generally considered a cut off where you should be selling or trading in your vehicle before this point. Simply, vehicles with beyond this many kilometres/miles are not valuable for us at dealerships, because they aren’t worthwhile or attractive to customers. Put yourself in a buyers shoes and see if you’d be okay buying a vehicle with that much mileage on it, the answer is probably no. Oftentimes these are vehicles earmarked for wholesale, and thus won’t see that great of value.
Trade In Your Vehicle at Davey Auto Sales
Keep this rough estimate of mileage markers in mind when selling or trading in your vehicle. When you do come to the realization that it’s time to sell, our Davey Auto Sales team are here to help you every step of the way. We’ve been helping customers just like you since 1977, with a convenient trade-in process that gets your vehicle off your hands quickly, with cash in hand or on the way to a new-to-you vehicle from our inventory. Contact our Oshawa team, today, to start the trade-in process.