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How important is the mileage on a used car? |
Mileage is probably the most important factor in determining the value of a used car. The "normal" mileage for a used car is about 12,000 miles for each year of its life. In other words, a five-year-old vehicle should have about 60,000 miles on its odometer. So when looking for a used car, try to find a vehicle with the least amount of miles you can. If the mileage on the car is less than 12,000 miles per year then that vehicle may be a good buy. Dealers would usually ask more for these cars.
If the car has more than 100,000 miles it should be much more cheaper because dealers pay much more less for over 100,000 miles cars. Keep it in mind.
A lot depends on the make too. Hondas and Toyotas tend to be more expensive with higher miles than BMWs or Volkswagens because they are more reliable.
Example if you buy 2001 Honda Civic with 115,000 miles you would not be able to get it much cheaper than Kelly Blue Book wholesale price, but on the other hand if you buy 1999 BMW 740 with the same amount of miles you could probably get it $2000-3000 below wholesale price if not more than that. |
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What is the difference between the "Sticker price" and the "invoice price" of a new car or truck? |
The sticker price is the amount listed at the bottom of the manufacturer's sticker that's pasted onto the window of the new car or truck. This price is also known as the "M.S.R.P." which stands for "Manufacturer's Suggested Retail Price." This is the official asking price for the vehicle.
The invoice price is the amount that the dealership pays to the manufacturer for that new car or truck. In reality, the dealership may actually may end up paying less than what you see on the invoice because they receive money back from the manufacturer so called "holdback" and/or a rebate and/or other incentives for selling a certain volume of cars. That's how a dealership can sell you a new car or truck at a low close-to or below invoice price and still make a profit. |
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