Quick Answer: Is It OK To Buy An Older Car With Low Mileage?

How much profit do dealers make on used cars?

Dealers pay around 2 to 3 percent of the invoice price of the car up front, and this is then rebated quarterly after the car is sold.

If they sell the car quickly, the rebate most likely will be larger than their finance costs, and they make a profit on the difference..

How much mileage is bad for a used car?

How many miles are too many? Really, it depends on a lot of factors but, if in doubt, shoot for the 12,000-mile/year average. Even so, don’t be afraid of cars that are outside of this range, provided the used car in question has been well maintained and there are records to show that.

What used cars NOT to buy?

30 Used Cars Consumer Reports Gave the ‘Never Buy’ LabelChrysler Town & Country. Chrysler’s new minivan will hopefully rate better than Town & Country. … BMW X5. 2012 BMW X5 | BMW. … Ford Fiesta. Compact cars by Ford had a bad run between 2011 and 2014 | Ford. … Ram 1500. 2015 Ram 1500 | Ram. … Volkswagen Jetta. VW Jetta | Volkswagen. … Cadillac Escalade. … Audi Q7. … Fiat 500.More items…•

Is it OK to buy a car with 100k miles?

No, in most cases, buying a car with 100K miles is not a bad idea. In fact, there are a number of benefits to buying a high-mileage car. For example, cars with 100K miles cost less to purchase, register, and insure, all while depreciating slower than low-mileage cars.

Should I buy a car with 300 000 miles?

Only in the last decade or so have people finally started to realize that when properly maintained, many cars can hit 200,000 miles. Some can hit 300,000 miles. … Many cars will have no trouble passing 200,000 miles without any significant issues — while many others still adhere to the 100,000-mile cutoff.

Is it better to buy an older car with low miles?

Some older cars may have seen fewer than 5,000 miles per year, making that 15-year-old example above a 50,000-75,000-mile car. … When buying an older car, whatever the mileage, it’s important to learn as much as you can about the history of the car.

What mileage do cars start having problems?

Typically, putting 12,000 to 15,000 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.

Should I buy a 15 year old car?

Most cars from 15 years ago are still on the road. 15 years isn’t that long. Look for one under 100,000 miles and you’ll have yourself a nice score. … Buying a 15–25 year old car is the best way to go.

Is it bad to buy an older car?

Reliability. If reliability is your top priority, you probably don’t want to buy a vehicle that’s too old. After all, the older a car is, the less reliable it’s likely to be, even if it’s a well-maintained, low-mileage vehicle, such as a Toyota or a Honda.

What is the best age and mileage for a used car?

From the data we’ve accumulated, it would appear that the best plan would be to purchase a car just a few years old and drive for another two to three years. This strategy reduces both maintenance and repair costs, as the car is still likely under warranty, as well as avoids the two major dips in depreciation.

Can you drive a car with 300 000 miles?

Ah, the feel of the open road. A person could drive 30,000 miles a year (the average is 15,000) and rack up miles pretty quickly, but someone who drives very little will still see their car age when the interior fades and rubber parts begin to dry. …

What mileage is best for used cars?

Mileage will vary between vehicles, but a decent rule of thumb to follow is that people drive an average of about 12,000 miles a year. Therefore, 120,000 miles would be a good mileage for a used car that’s about 10 years old. Of course, some cars will have less or more miles on the odometer.

Is a 10 year old car too old?

In reality, there is no concrete answer for this – it all depends on the car. A well-maintained 10-year-old car could possibly be a better investment than a newer model which hasn’t been looked after. As a very general rule of thumb, a car is usually reliable up to 5 years providing it has been maintained.

Are 10 year old cars worth buying?

In India, buying a car close to 10years old will be more than 50000 Kms mileage for sure in most of the cars, and if someone is showing you less, chances are that they have edited the kms. Moreover the vehicle might be 3rd hand or a 4th. So whilst buying an old car, upto 5years old is good, in my opinion.

Is a 20 year old car too old?

Twenty year old cars will likely be in pretty good condition, so long as the car spent its life in a salt free state and was maintained and garaged. You can always tell a garaged car, the paintwork will be original and still fresh looking.