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What Mileage Should I Change my Car

Choosing when to exchange your car for a fresher model is a difficult decision for many of us. With all the different factors to consider it makes sense to break it down into more manageable chunks. However, one of the most prominent factors to be considered is the vehicle’s mileage. Generally speaking, the lower the mileage the less wear and tear the car will have experienced. It is also less likely that the car has been abused or damaged during its time on the road. As a result, the lower the mileage the longer the car should last you.

Unfortunately it is not quite as straight forward when it comes to deciding when to trade up. Everyone has their own set of budgets, needs and buying habits that will influence when they should call it quits. By gaining an understanding of the fundamental aspects you will be able to confidently reach your own conclusions.

Consider Re-sale Value

It’s worth bearing in mind that your current car’s resale value will plummet as your mileage increases. This is especially true when you break into the six-figure category. If you need the best resale price for you car to partially fund your upgrade you should consider switching before your mileage gets too high. To get an idea of re-sale prices and mileage, check out online classified ads that feature your particular model.

Buying Habits

If you like to drive more modern cars and upgrade often, then it makes sense to drive cars with lower mileage. Your car will be fresh and less likely to break down, then you can trade up at the opportune moment to get the most money back.

Others will buy new or very low mileage cars then stick with them for as long as possible. Once the car becomes troublesome or expensive bills start to rack up it can be flogged to start over with a new car.

Alternatively, if having the newest or most reliable car is not so important, you could pick up a high mileage bargain. Picking an older car with high mileage  can cost you as little as hundreds. You will be totally gambling on reliability and potential repairs, quite often you would be better to replace the car than foot the bills when the arise.

There Are Always Exceptions

Some may claim their cars have performed starship levels of mileage whilst the continuing to drive trouble-free. Certain models of cars have been proven as very long serving, many have even reached 200,000 miles and beyond!

Once a car reaches this stage the re-sale value will drop through the floor. Few people will be interested in taking a risk with high mileage cars so it quite often isn’t worth selling. Many owners will simply continue to rack up the miles until the eventual expensive repairs are required. Then they will simply cut their losses and switch to another vehicle. For many this serves as a great money saving exercise but for others it is simply a time bomb waiting to go wrong!

Car Buying Tips  30/01/2015 09:10:35

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