The “new normal” 200,000 miles…
During the 60’s and 70’s the typical automobile in
America reached the end of its life right around 100,000 miles. Buying a car
with 100k on the odometer was the equivalent of testing your luck. Even though
it seems that 100k has stuck with consumers as a maximum mile marker to buy a
used car, experts say modern cars haven’t even reached the half-way point of
their lifetime at 100k miles. In today’s market, cars can expect to see a
lifetime of 250,000 miles or more. New car dealers have felt the “Catch-22” of
building better automobiles over the past few decades. Makers have to build
better automobiles to attract buyers, but building better automobiles also
means consumers keep their cars longer. New car makers have always tried to
figure out how to build better cars without making consumers less likely to
upgrade later, and profits have been affected by consumers who are in no hurry
to get out of a car that still runs well.
The automobiles of the past are nothing like the
automobiles of today. Without delving too deep into technological advancement,
mechanical design, fuel efficiency, modern electronics and improvements in
quality standards, cars are simply made better today. They are safer and last
longer. The average age of an automobile on the road today is
11.1 years old. Considering age and the EPA national driving average of 15,000
miles annually, the typical automobile would have about 165,000 miles on the
dash. Consumers are holding on to their cars for longer than ever before, and
for a variety of reasons. Technological improvements have many models driving
without problem for hundreds of thousands of miles. The automobiles of
today are built to last more than 200,000 miles with simple regular care. That
fact is reinforced by makers like Hyundai and Kia which now include 10
year/100,000 miles warranties on their models. Cars with over a million miles
have been documented all over. Those are exceptional cases, but the new normal
is well made brands like Honda, Volvo, Hyundai and Toyota being sold with
150,000 miles or more to consumers looking for affordable and reliable
transportation. We regularly stock cars like this 2014 Honda Accord
While the majority of the change in the type of
automobile on the road today can be credited to better made automobiles, the
recession also played a part. People uncertain about their financial future or
dealing with financial hardship related to the recession held on to their
automobiles. For years, the gap between purchases of new cars and used car has
been growing steadily. For every new car sold in the US any given year, 2.5
used vehicles are sold. For 2013, consumers purchased 44 million used cars and
only 17 million new cars. New age consumers, equipped with access to unlimited
information and aggregated access to thousands of local dealers that post their
inventory online are less likely to accept the huge depreciation losses when
buying a new car. A new car loses 11% of its value in the minute after
purchase. After five years, consumers lose 37% of the initial value.
For many consumers, the odometer is the
most important part in researching their purchase, and it’s still smart to
consider miles. It’s not smart to only consider mileage. If you consider the
fact that a car will last 100,000 even with owners that completely disregard
maintenance, a car with less than 100,000 miles may actually carry more of a
risk. When you find an automobile that has 150,000 or more miles, you know the
car was well maintained and still running most likely due to regular care. For
car buyers, the decision should be based on the quality of the automobile.
Buyers should look at reliable makes and indications of regular care over
anything else. Mileage should not decide your purchase for you. As with most
other things, research and information will help you make the best decision. As
cars get better, and consumers get smarter, considerations like mileage become
less rigid.
If you’re in the looking for used, affordable, quality
automobiles, check out our inventory page.
