Older low mileage vs Newer but higher mileage

Petbri

Petbri

Junior Member
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135
Hi All
I'm still taking my time looking for decent 4200 and was wondering if there are pros and cons of going for a newer but higher mileage car vs a low mileage but a few years older? I am mainly looking at facelifts so there are not many years in it, but often quite a range in mileage. Any particular things to look out with each option? Also some people claim a 'rule of thumb' in terms of price per year or per 10k miles when comparing cars - anybody thoughts on that?
 
outrun

outrun

Member
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5,017
A whole world of debate this one Petbri.

There are 2 schools here I think. 1) Higher mileage and regular use are important as these machine so like to be exercised. However, with higher mileage comes lower residuals and perhaps a slower sale when that time comes. 2) Lower mileage will make a car more desirable and faster to sell for sure. The down side is that it must have been maintained very well and on schedule as sitting around somewhere can do more harm than good. There is a good example of a low mileage Spyder for sale right now for top top money. It looks lovely but has gone large chunks of time with no service and little mileage. This makes it much more of a gamble than it first appears.

Ideally, I think every would agree that buying the best car that you can afford and getting a good history and independent inspection before parting with your cash is the best way to go. Anything else runs a higher risk and could be a false economy.
 
Smasher

Smasher

New Member
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107
Exactly as Outrun says, i was looking for a facelift and ended buying a 52 plate as it was in exceptional condition, and in the right colour combination, and of course low mileage, havent looked back!!
 
zagatoes30

zagatoes30

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21,003
Find the best car you can based on your requirements and then factor in all the pros and cons to negotiate the price. For me overall condition is top then sign of good care and attention over recent years and then overall mileage, I like to see cars that are used and maintained properly as this always points to careful owners (Spyder excluded obviously ;) ). Year only comes into the equation if everything else is the same.
 
Brendan

Brendan

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1,232
Buying a low mileage one will cost you. People seem put off by higher mileage Masers yet they are quite up to it and you could get one for a good price. Unfortunately, when you come to sale it you will get pennies. I ended up buying a newer facelift with higher miles than an older one with low miles.
 
conaero

conaero

Forum Owner
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34,646
I would categorically say the model year makes no difference to the resale value, mileage does.

This does not apply accross models though, even a Classico and face lift 4200, they all have their own residual structure.

For example a GranSport from 2004-2007 value will be descided by spec, mileage, history and condition so a 2004 and a 2007 identical spec will be worth the same value.

Actually, the 2004-early 2006 models are more desirable due to lower Road Fund Licence.
 
conaero

conaero

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34,646
Brendan said:
Buying a low mileage one will cost you. People seem put off by higher mileage Masers yet they are quite up to it and you could get one for a good price. Unfortunately, when you come to sale it you will get pennies. I ended up buying a newer facelift with higher miles than an older one with low miles.
Click to expand...

So its more prudent to buy a 30k mile car than a 70k mile car a put 10k on it and sell it. If your clever you won't loose any money on the low mileage car but you could loose up to £5k on the higher mileage car.
 
outrun

outrun

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5,017
Unless you buy the higher mileage car for a better price Matt. GS is a good example with an obvious gap between sub 40k cars, 40 - 65K cars and 65k and above.
 
conaero

conaero

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Well the ceiling where they tail off appears to be 50k, don't know why but they just do.

The next devaluation plateau would be 70k IMHO.

The worst way to buy a GS would be with late 40's on it and sell it at the 70k mark.

That would equate to £28k to £22k for an LE spec and £24k to £18k for non LE

Of course you could just say life's too short and just drive the thing and don't worry about depreciation
 
outrun

outrun

Member
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5,017
Yup, life's too short! Mine has 57k miles and rising. We'll see what it's worth at 107k.....

The Centenary will put it over 60k so I guess I'll have to just keep it now! Job done!
 
B

bigbob

Member
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8,973
If I was buying as a keeper then I would buy high mileage whereas buying a weekend car for 2-3 years, I would go for a low mileage, popular colour car.
 
S

sjc

Junior Member
Messages
280
Personally, I'd disregard mileage, and buy on history condition and provenance, further to add that if you are going to do low miles per annum, a high miler makes even more sense.
The "must have a low miler" mentality is one of the British car buying publics real mysteries.
 
Felonious Crud

Felonious Crud

Administrator
Staff member
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21,232
sjc said:
Personally, I'd disregard mileage, and buy on history condition and provenance, further to add that if you are going to do low miles per annum, a high miler makes even more sense.
The "must have a low miler" mentality is one of the British car buying publics real mysteries.
Click to expand...

That and number-plates which give away the age of the car.
 
Petbri

Petbri

Junior Member
Messages
135
Thanks guys - very interesting. My take on this is general condition and evidence of good ownership comes before all, mileage makes a difference to value but not necessarily reliability and year makes the least difference if any. Also consider the level of spec, but from what I can see most cars seem have most of the extras on offer at the time.
I'll keep looking.
Peter
 
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