Conclusion. For us, always consider a perfect balance between mileage and age. Both factors are equally important when properly calculated. But no matter how old or how long the car has been driven, one more important factor many buyers tend to overlook is how the car has been used and maintained by the previous owner.
Is Mileage More Important Than Age? The short answer is no. There is no clear winner in the battle of mileage vs age. This is because, when shopping for a used car, you don't just base your decision on either one.
As such, a vehicle that has higher mileage will most-likely be costlier than a similar vehicle with fewer miles. Generally, a car with lower mileage also offers better ride quality. In most cases, the service life of most car parts is dependent on mileage.
What are the advantages of buying a low mileage car? Low mileage cars tend to be more desirable on the used market because they've seen much less use - meaning components that are affected heavily by wear and tear - like the brakes, clutch, tyres etc may last longer into your ownership before needing replacing.
What's the “Sweet Spot” for Used Car Age? In retaining “like new” quality and inheriting a slower depreciation rate, the best used car age for buying is 2-3 years. In fact, Americans are saving up to $14,000 on a 3-year-old vehicle.
When buying a used car that's 10-years-old or older, your primary concerns are purchase price and reliability. Don't pay more than that 10-year-old car is worth. And, pick a car with a solid reputation for dependability. No car is really too old if you follow those rules.
All in all, the best age to buy a used car is around the 5-year mark, as this minimizes depreciation and maximises reliability for the price you'll pay, meaning you're less likely to have any problems or need to pay any more money for later on which is a common problem with really cheap or much older vehicles.
As a general rule, most vehicles begin to seriously degrade at around 150,000 miles. It is considered rare, and therefore outstanding longevity, if a car reaches 200,000 miles on the road. That said, there's more to identifying good versus bad mileage on a used car than just the odometer reading.
If you find a car with more than 200,000 km on it, don't be too concerned. A vehicle that has gotten regular oil changes, tire rotations, tune-ups, and a little high-mileage maintenance, should still have some life left in it. Well-built trucks and large SUVs should last longer than other vehicles overall.
Both factors are equally important when properly calculated. But no matter how old or how long the car has been driven, one more important factor many buyers tend to overlook is how the car has been used and maintained by the previous owner.
Typically, putting 13,000 to 14,000 miles on your car per year is viewed as “average.” A car that is driven more than that is considered high-mileage. With proper maintenance, cars can have a life expectancy of about 200,000 miles.
And buying a used, reliable vehicle that you'll drive for at least five to ten years is typically the best way to save the most money.
Do kilometres matter when buying a car? In general, buyers often want the car they are buying to have less than 100,000 kilometres on the clock at the time of purchase.
According to Consumer Reports, the average lifespan of today's cars is about eight years or 240,000 kilometres.
A conventional car can last for 200,000 miles. Some well-maintained car models will reach 300,000 or more miles total. The average passenger car age is currently around 12 years in the United States. Choosing a well-built make and model can help extend your car's longevity.
This is because the majority of depreciation will occur over the first 8-10 years. It's at this point that your car would have dropped in value and is most likely to be the lowest in terms of how much its worth.
Reliability fades with age
Even when mileage is low, the older a car gets, the less reliable it becomes. Modern cars are much more reliable, even as they age. Five-year-old cars record what is considered a major problem every three years, while 10-year-old cars are more likely to face a problem every 18 to 20 months.
Keep driving it and you save money not only because you don't have to make payments on a new car, but also because insurance premiums are lower, and in some states, so are registration fees and personal-property taxes.
Basically, the rule goes that you provide a down payment of 20% of the balance, sign a loan for a four-year period, and pay no more than 10% of your monthly income on car expenses. These expenses include any money you put towards your new vehicle, including gas, insurance, and loan payments.
The average car in the U.S. is about 11 to 12 years old, which means most will have 132,000 miles to 144,000 miles on the odometer. Proper maintenance and care could help them hit 200,000 miles or even more.
To save others from making this costly mistake, I came up with the 1/10th rule for buying a car. It's simple: Spend no more than 10% of your gross annual income on the purchase price of a car.