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I am in the market for a commuter car (good gas mileage) but my goodness the pricing is unrealistic when compared to new vehicles. I am estimating a 200,000 mile useful life of a vehicle. I am seeing .10 to .12 cent per mile in remaining life value in the used car market while new car pricing is around .07 cents in useful life (assuming a 200,000 miles) for cars I am considering. ( I am looking at the Nissan Versa and other inexpensive vehicles). I am going to be putting a LOT of miles on the vehicle.
An example of what I am seeing is used cars that sold new for 16 to 18,000 dollars with a 125,000 miles listed at 12,000 dollars????? I have seen some Nissan Versa's with 50,000 miles on them listed at 10,000 dollars when a new one is under 12,000????
It's called supply and demand. You and many other want it, few people have them for sale. Price goes up. has nothing to do with how long the vehicle will last since some will blow up with low miles because of how its driven and where used, while others will last a hundred thousand miles beyone your estimate. Used car prices is dictated by demand for that car. A dealer can have a slightly used monster gas guzzler on the lot and a snazzy looking gas mizer. If the demand is for low mpg vehicles, the gaz guzzler will have a lower proce to cost where the gas mizer will have a higher price to cost.
I was seeing the same thing and so bought a new Kia Forte which I recommend. Dealers tell me there's a shortage of used cars because of the klunker program.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Have you any evidence that the Versa is lasting 200,000 miles? Just curious.
I have a 1997 Escort 5 speed that I bought with 140,000 miles on it a few years ago for $950. I see them now with more miles than that for $2,300-$3,000. I think it's not only mileage with high gas prices, but also the cheaper cars are selling better with people out of work, and that drives the prices up. If you had your Lexus repo'd when you got laid off, and just got a new job, a little beater will do fine to get you to work for a while. I know someone trying to unload a low-mileage 2002 Suburban and not having any luck.
The used car market is indeed hot these days, and it's certainly a sellers market. High demand and lower supply being the obvious reason here, coupled with rising gas prices, which seems to heavily favor frugal cars on the market.
Suburbans and Trucks aren't quite as easily sold.
In all honesty, if one can afford it, it's probably better to buy new.
I was seeing the same thing and so bought a new Kia Forte which I recommend. Dealers tell me there's a shortage of used cars because of the klunker program.
I think car leasing has more to do with it. More people are starting to lease again so used car prices should dip in the next couple of years.
Have you any evidence that the Versa is lasting 200,000 miles? Just curious.
I have a 1997 Escort 5 speed that I bought with 140,000 miles on it a few years ago for $950. I see them now with more miles than that for $2,300-$3,000. I think it's not only mileage with high gas prices, but also the cheaper cars are selling better with people out of work, and that drives the prices up. If you had your Lexus repo'd when you got laid off, and just got a new job, a little beater will do fine to get you to work for a while. I know someone trying to unload a low-mileage 2002 Suburban and not having any luck.
I am just using 200,000 miles as a "benchmark" figure for comparison purposes. I am using that figure just to compare the estimated useful life of the same vehicle make/model.
I agree, used car prices are out of whack. I asked the salesman at the Honda dealership why used Accords cost more than new Accords and he said supply and demand. He also told me that people are buying used cars because their used car warranty is better than their new car warranty. Strange. I'd say if you can afford a new car that is the way to go right now. Best wishes.
I am in the market for a commuter car (good gas mileage) but my goodness the pricing is unrealistic when compared to new vehicles. I am estimating a 200,000 mile useful life of a vehicle. I am seeing .10 to .12 cent per mile in remaining life value in the used car market while new car pricing is around .07 cents in useful life (assuming a 200,000 miles) for cars I am considering. ( I am looking at the Nissan Versa and other inexpensive vehicles). I am going to be putting a LOT of miles on the vehicle.
An example of what I am seeing is used cars that sold new for 16 to 18,000 dollars with a 125,000 miles listed at 12,000 dollars????? I have seen some Nissan Versa's with 50,000 miles on them listed at 10,000 dollars when a new one is under 12,000????
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