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Related Used Car. Used Honda BR-V. View More. Popular Brands. Follow Us. All Rights Reserved. However, it's important to pay close attention to a range of factors - including the condition of the car, its service history and the way it has been treated before it got to you.
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. The paintwork and interior will most likely be better too. Components usually have both an age and a mileage limit they need to be changed at so always check the service history to find out what parts have been changed and what parts are likely to need changing soon so you aren't caught out.
Mileage shouldn't be the only thing you pay attention to when it comes to checking out a used car, especially if there are other issues worth noting.
For example, a 20,mile car with five owners and incomplete service history is potentially a worse purchase than a 50,mile car with a single owner and all of its service records. The age, condition and type of driving that the car has done are also very important as it can cause major issues down the line after you've invested your hard-earned cash into it. This could mean that a vehicle that's been driven mostly on the motorway is likely to be in better shape mechanically than the same vehicle that was mostly driven around a city because parts like the clutch and brakes will be more worn.
There are three main issues to be wary of with low-mileage cars: lack of use, inflated prices and risk of clocking. Lack of use can also cause problems like battery drain, engine trouble due to lack of oil running through it and stiff or corroded brakes. In other words, as attractive as those low miles may be, they can also foreshadow big-bucks in repair costs.
If the car has a diesel engine, lack of use can also lead to expensive trouble with the exhaust system. Lastly, it pays to be cautious - so those looking to buy a used car with low mileage should always question why it's lower than average. Car clocking - which refers to the tampering of a car's odometer to wind the mileage figure back - is also on the rise. While many car manufacturers provide mileage intervals for servicing, it's important that a car should be serviced regularly in terms of time, too.
On a new Ford Puma , for example, the manufacturer advises servicing every two years or 18, miles — whichever comes sooner. While some drivers will cover fewer than 18, miles over two years, oil degrades over time so it's important not to attempt to save money by skipping a service. In , Rapid Car Check analysed a random sample of one million cars and discovered that 6. With around These could be hiding age-related issues that owners aren't aware, especially with the majority of service and maintenance schedules dependant on mileage.
A car that has covered 60, miles - but is advertised with 40, miles - may have parts that need servicing or replacing. For engine components, like timing belts or chains, this has both safety and significant cost implications. To ensure a low mileage car is legit, look carefully at the interior at the paintwork. An extremely worn interior on a car that appears to have 30, miles on the clock should set alarm bells ringing. I see tons of nissan leaf owners discuss this as battery packs become more advanced.
This is a question I have as well. I would be very hesitant to buy an older ev given how cold our winters get and what a difference that makes in battery life. I got it at well below sticker because one of the salesmen at the dealership got in an accident with it and they had to do all this cosmetic work on it. I have no insight on cars.
I can never spell it correctly on the first attempt. It had , miles on it at the time. It still drives great and has required very little maintenance. I am too embarassed to admit what cars we have. Dumb, dumb, dumb purchases. Having these sweet graphs is helpful for the future.
Another thing to consider is that some cars hold their value really well — Subarus and some Toyotas come to mind. Maybe I should have waited. A few months ago, I replaced my 9yo Versa hatchback owned 7 years , with a 2yo Honda Fit that was just off-lease.
As a fellow spreadsheet nerd, I appreciate the maintenance log! Your log illustrates just how low maintenance some cars can be, though I also think I should expect to pay more just to be on the safe side.
My kid is 4, and we knew the next car we were buying would eventually be his… So, I bought a used used Subaru Outback with 7, miles on it last month.
The Outback had been a lease return. So we bought closer to new because it had everything we wanted on the car after doing our research including me test driving 4 cars in one day from 4 different dealerships to compare trim line and packages so we could hunt for the used car we wanted. One of our 2 cars is a Landrover Defender which is about 19 years old and really good fun. And that is without fuel or capital depreciation. This maths may well swing our decision….
I prefer used older model with low mileage. I hope it will last another years and my 13 year old will drive it as her first car. Not bad, if you ask me. I think with patience you can find a low mileage older vehicle that will last for years and cost relatively little per year. I donated the Cadillac to PBS. I wonder if any readers have any knowledge of cars with a salvage title. Most people will tell you to stay away from these cars, but I know of some people who only own cars with a salvage title because you can purchase them at prices well below market value.
I wonder if there are certain things to look for that might make them worth the risk. We own rental houses and so due to the need to frequently haul large items we decided last year to buy a truck. This also doubles as our teenage sons transportation. We live in the snow belt and wanted 4 wheel drive. New trucks with 4 wheel drive are expensive! It builds character. If you have ever priced a new pickup… Wowza! I have kept my previous 2 cars for over , miles and resold them in good useable condition — keeping good recordsand being a fanatic about maintenance is the key.
I never take them to a dealer but use a reliable and honest local mechanic. I have a Prius now and it has been the most carefree car I have ever owned. Presently at 76, miles, I hope to keep it a lot longer. I too have a Prius, the cheapest kind with now about k miles. FW, I have 3 teenage boys and a husband.
We do a 14 hour road trip twice a year. Best family car EVER. We too are all in favour of older used vehicles and we hunt for ones with low mileage too. Both were steals frankly and required a lot of due diligence but if you are serious there are deals to be had. And like you said, you need to find that sweet spot which requires research.
And, as you mentioned, we have a kid and hoping for another one in the future and know that Carol will be just fine for our family. My husband however bought a BMW 3 series coupe in with 90, miles and a sunroof in powder blue. He seems to have hit the sweet spot and loves this little car to death. It has needed some repairs, but is still no where near what it would have cost to buy a new one. It was ten years old when we bought it three years ago! My husband and I cannot stand car shopping….
We buy new and pay cash. For a time period, new and old car overlap. When the old one dies we live with one car. Currently, we have a 21 year old car and a 1 year old car. Both cars are low mileage for their ages with reasonable insurance costs. We will drive the old car into the ground. It is so easy to pay for repairs because back in the day there were fewer bells and whistles to break. Are they refurbished tires? I will take my recently used car and even pay for an extended warranty.
Look at what I saved there!!! The price of the tires is reflected in our monthly spending reports, most recently here. I drive a Camry with k miles on it. Still going strong. I drive a Honda CRV, bought new, and feel no guilt….. Hondas and Toyotas have a reputation for going to , miles…. Our kids drive a Civic and a Corolla and holy crap, the insurance on the is SO much less than on the Civic.
Of course, this is especially relevant for younger drivers; the difference for older drivers might be more negligible. My DH and I have 6 kids so I drove a large vehicle for 25 years…. Got a good trade in value for my k mile expedition and wrote a check for my new sweet ride.
Hope to drive it for another k! Great article and as a former marching band cool person I was band pres too so extra cool! I understand needing room for instruments. Girl trumpet players rule! I have a Corolla, my wife has a Camry. Both paid off. My husband and I decided to move from a warm state to one where it snows. We bought the Maxima at about 1. In fact, we now live in a bit of a fancy neighborhood and you need to be part of the community to use the local trails.
We had a guy follow behind and take pictures of our truck while headed to a trailhead. Hubby was offended. I was cracking up. Like, he really, really loves cars and they need to be f-a-s-t.
He also makes boatloads more than I ever will. There are those among us who make enough in pay to seriously not have to think much about saving more. He has an uber-expensive Audi he just loves. I love going for rides with him, but holy moly is he bleeding money from the depreciation.
One thing though — Mr. Frugalwoods seems quite handy. Why is that? We like to go for what we call the Grandma car. A car with very low miles, that is a much older vehicle. For instance when we were looking for a van exchanging our Subaru Forester we found a honda odyssey with under 24, miles. Grandma cars are the best! Your graphs lack a very important piece of information.
I just bought a low mileage 1. I took a totally different approach than your logic. I looked for cars that lost significant value the first year but also needed to have a good factory warranty.
The people first warranty from VW is great. And VW loses a ton of value after the first year. But I have the confidence to load the kids up and drive across the country in my low mileage 1. Avoid used car lots, they are auction bought rebuilt cars. Trade in or repossessed are the way to go. Gotta run the Carfax to make sure your car will qualify for a transfered factory warranty. Life is too short to drive the wrong car or a POS high mileage car you baby down the road due to a fear of breaking down.
But honestly I see cars becoming much like phones. With significant upgrades in safety and technology every year. Earlier this year, we traded in our Prius C for a used Nissan Rogue. We needed more space because we now have two boys. When we had the Prius C it was perfect for just the three of us but now with the newborn now 4.
We paid it off immediately with cash since we do not want to deal with car payments. We love it so far and hopefully it will be in our family for years.
The only setback is gas usage. Some of it is the high gas prices here in the SF Bay Area but still going to the gas station on a weekly basis adds up to a lot of money spend on gas compared to when we had the Prius C. I live in Pennsylvania and the weather, road conditions and hilly terrain are all tough on tires. Cheap tires with a k warranty wore out constantly. I bought a set of 80k warranty tires from Costco early and have put k on my car since then, and am on my third set of tires, which have been pro-rated for the warranty.
A great deal for those of us who drive a car for many years. Suggest that you look into Discount Tire which takes a very different approach to their tire warranties. Paying cash is key because most all? We have a 4Runner with almost , miles on it.
Both were bought from my BIL who bought them new and took meticulous care of them. I am going to be hard pressed ever to want to drive anything but a Toyota or Honda. I own my tocoma and have k on it. Still runs good. I payed it off in So tell me how much money have I saved not buying a new car.
I you buy it to own it and take care of it you will save a lot more money in the long run by not having a car payment and a high insurance payment. That is my thinking. Had more trouble with brand-new purchases and none with my used.
Have a very reliable mechanic as well my secret for keeping a car young. When it comes to cars, the simpler the better.
Manual transmissions are more reliable than automatic transmissions. Avoid hybrids, CVT transmissions, modern emission controlled diesels, and anything turbocharged. Probably the simplest, most reliable, and easiest to repair car in the world would be a manual transmission Toyota Corolla. Automatic transmissions can be good but you have to do your research. Recently, two Toyota Tundras reached one million miles.
Honda builds the best engines but Toyota has better transmissions, with the overall win going to Toyota for overall quality and reliability. I am now at K. I understand frugality and purchasing used, however. We have mostly bought new and traded the cars in while still low mileage at trade in. Because of this we have always been able to get good trade value and drive a newer car without the fear of breakdowns.
We are much older and would not be happy getting stuck somewhere with a breakdown. Yes, I know new cars can breakdown too but just not as likely. We cannot justify the aggravation of old cars with high mileage. We always pay cash, no interest on loans as we do not need to finance.
I think when a person gets to the point that they can pay the cash difference, it is much easier to make a deal and drive newer safer cars that will not need maintenance every time you turn around. Also our daughter is an adult now but when we bought her a car it was a one year old car. We did not want to worry that she would get stuck with a breakdown in the middle of an isolated road.
I know many will argue against this but peace of mind is worth a lot to us. The charts here have me rethinking that. If you can get it just before the flattening point you really are getting the best of both worlds! Oh, and I aspire to spreadsheet things as often as you do. I also intend to but somehow never start or never keep up with it as long or thoroughly as I should. This is true for everything from vehicle maintenance to those big household expenses you showed before.
Thanks for being a good super nerd example! Minor grammatical note: Since only two cars, the Prius is the one owned longer longest for three or more. I am currently driving a Toyota Rav 4 4wd. I bought it one year ago. The owner of the car lot had used it as his vacation vehicle for when he jetted down to Florida we live in Kentucky.
So, it was six years old when I bought it and had 26, miles on it. I paid cash, and even got him to come down a little on the price. Hope to drive it for many years to come. Love Toyotas.
My year-old son is learning to drive in my Toyota Camry. I bought it used in with the plan to pass it on to him when he started driving. Hope it gets him through high school, college, and beyond! I inherited the ? Suzuki Wagon R from my mother. Maintenance and repairs incl. Thanks for the analysis. It is true you always run the risk of a lemon. Then I lost my job in NJ and two and a half months later got a job in So. I made the best of my bad options and financed a Nissan Sentra with 62, miles in Dec My FL job is 74 miles in each direction.
At first, there was a sponsored carpool by work. Then one day that went away about the same time all of my co-workers moved to other towns or retired. I paid her off as quick as I could. I have carpooling buddies again. But it is allllll maintenance — brakes, oil changes, struts, tires, flushes, and a new window motor.
The difference between the two used cars. The first one I trusted a friend-of-a-friends-mechanic I purchased the car from. Next day, my ex-stepfather mechanic gave it the once over. The only thing I would change on your analysis Mrs. FW is I would buy earlier on the depreciation curve because of the potential mileage I would be forced to drive in a year.
I would also like to pay cash for my next car. Our 21 year old car is a Nissan Sentra. We love it! Our mileage is lower than yours but we have never had a large repair bill. We owned a Toyota that had a lot more repairs. Gardener, I agree. I have just learned to pay as low as you can if you have to finance cash is always better and have a mechanic you trust.
As for repairs, I suspect if I did not drive her as much she would not need the repairs. I think you are right about the 6 year or so sweet spot. I love the Frugalwoods philosophy for many aspects of my life. However, I am on the opposite end in terms of car purchases. The way I view frugality is to buy new cars with a very high trade in value.
For this type of car there is another flat line slope between 30 and 60K miles. Even a car dealer will eagerly offer a premium for this type of trade in. I advised both of my sons to trade in three year-old Subaru Imprezas for newer models.
They were impressed with the outcome and enjoy driving their new Imprezas. In this situation, I would advise against a private sale, since the full sales tax on the new car would have to be covered.
With a trade-in, only the sales tax difference is charged to the buyer. As a former owner of high mileage cars who was stuck helplessly with many thousand of dollars worth of repairs, I have made a vow to never drive a car with over K again. The financial and emotional headaches are not worth it for me.
I prefer depreciation of my car instead of time and money spent for tow trucks, loaner cars, and repair shops. This is such good info!! One other thing for people to consider-I bought a Nissan Leaf with I think this car was so inexpensive because it is a shorter range electric vehicle and it can go about 80 miles on a full charge depending on if you are driving on a highway, blasting AC, etc. This short range works wonderfully for me because I live in a small city and the furthest I drive is typically 20 miles away, round trip.
It can work well in a larger city that has more charging stations. I charge my car at home x a week by simply plugging it in our outdoor electrical socket when I get home from work and unplugging it in the morning.
In our old rental house, I charged it at a free charging stations that was a 5 min walk from our house. My husband has a regular gas car that his parents gave him in high school, so we use that for road trips.
All of this to say, a short-range electric vehicle has been an awesome, inexpensive car for our family! Not to mention the environmental benefits.
I bought mine from Carvana. Used electric vehicles can be hard to find, and they had a great selection to choose from. They delivered it, which was very helpful for buying a short-range electric vehicle from a few states away. I highly recommend both Carvana and Nissan Leafs. Thanks for the info! I will def be checking out Carvana.
In my area it is challenging to find decent used vehicles for sale. Newer cars, used or not, are always more expensive. Make sense? With a good mechanic, you can keep them going for years and then repeat the process when the repairs are more expensive than the depreciation on a newer vehicle. Basically cars are glorified motorized wheelchairs. I never cared to have a particularly sexy wheelchair. Twenty thousand dollars goes a long ways towards a healthy lifestyle for a physique which makes any car look fabulous.
Great post! I would love to see an analysis on circumstances where the owner is driving significant miles per day. I am personally a proponent of NOT doing that when at all necessary, but in my experience it is not always avoidable.
And this is where I see the numbers tend to break down a little less cleanly on high vs low-mileage purchases. I have always followed this advice but after numerous multiple thousand dollar repairs, have been second-guessing myself. Currently attempting to pull together an analysis of our current and previous cars using the above methodology, and hoping to find that it holds up in these cases too! Buy an older car its cheaper than a newer one.
I have a Honda CRY with , miles. We found this car salvage place that only accepts Honda with front in back end damage. Engine untouched. It was ready 6 weeks later. I love the car so much not sure if I can give it to my daughter when she turns Great gas mileage. We have had no maintenance needed. Just oil changes. It is so nice to not have car loans. A Monte Carlo, inherited free in with 68K miles.
I drove it for a few years before totaling it in an accident. Then I started driving the free Monte Carlo. Amazing timing, my car over heated and i decided to pack it in this morning! I blogged about my choices for a new secondhand car here in Australia. Its not much different but its important to consider also where and how you are using the car. Our major repair recently was the AC compressor — we get temps anywhere up to 41C F in summer.
I have a Toyota Yaris and have put 73, miles on my car as of October, exctly two years. I drive two hours a day miles round trip for work. I take very good care of it. It was not the financially wisest choice, but it has given me peace of mind because it is so new. I would agree with everything you said, except for one thing. The data shows that this did indeed happen, but based on your graph, this was just a hunch.
While buying used can be a frugal, good investment, I buy new. I pay cash when buying new. I buy exactly what I want — no more, no less. Great article. I agree with the whole idea of not buying a used car with low-mileage.
I made the mistake of buying an SUV with only 12K miles. I ended up spending 5K on repairs within 2 years and I felt that I was swindled. Glad your prius has been cheap to keep up. Our prius needed a new main battery which the dealer wanted 4K for but I was able to find online replacement for 2K thru greenbean.
There is nothing frugal about that. Similar car repairs are double to triple in my area. Yes, I buy the parts and a friend works me in at his shop. Yes , I understand about saving money and all but I did buy my Corolla in brand new and I am still driving it today at miles later, never replaced a motor, still the OEM motor and trans , how could buying my car new be bad?
I understand some makes do last longer with regular maintenance but new car cant be all that bad. That was a good purchase. It actually provides a neat connection to their great grandpa, who babied that car. We have a Toyota Tacoma we bought in with k and it was babied by one owner.
Due to inflation, if we needed to sell it today, we would actually be able to sell it for more than we paid for it. And we have a Honda Pilot we bought in with k miles and as of now, almost , we are up to k.
It also was a one owner car who had meticulous maintenance records. It has been our family car and we drive ALOT between town, road trips, and my real estate business. Even though the accord off the lot purchase has been amazing, due to all the new technology changing so fast, I would not trust a new accord to last for almost 30 years. Thanks for reminding me to stick to the older car plan and saving me several thousand!
Two previous cars cost 40 pence or 45 pence per mile.
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