Buying a Used Car: The Best Age and Mileage To Get Great Value
Car shopping? Buying a used car can save you money, but you’ll want to check the vehicle’s age and the number on its odometer to get an even greater value.
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According to Autotrader, the best used vehicle should be between four and six years old, and have less than 50,000 miles. But you’ll also want to consider how the owner drove the car, whether it was mainly driven in the city, highway or a mix — and how well the car was maintained.
Let’s take a look at what to expect when car shopping, and other considerations to bear in mind to get the best deal.
What To Expect When Buying a Used Car
When looking for a used car, there are a few different things to keep in mind. In some cases, you’ll find a fairly new-looking car with a low number of miles on the odometer, but the vehicle is much older than you’d expect. In other cases, you’ll find a used car with average miles that costs thousands of dollars less than one comparable with many more miles.
You’ll also need to be aware of the current used car market and what to expect when it comes to prices.
Used car prices rose sharply during the pandemic, but prices have started to come down — recently hitting a two-year low — and aren’t expected to rise significantly this year. In March 2024, the average used car in America was listed at $25,540, according to Kelley Blue Book (KBB) parent company Cox Automotive.
Although prices are down, KBB noted the least expensive cars are difficult to find. In March, dealers only had a 33-day supply for older, high-mileage used cars priced below $15,000.
Are Some Brands More Reliable Than Others?
According to Autotrader, some brands, including Honda and Toyota, have a reputation for being more reliable than others. Jeep also has a loyal following among drivers who keep them for extended periods of time. Trucks are also known for their durability and build.
Ford, Chevrolet, Toyota, Honda and Nissan were the top five used car brands purchased in March 2024, accounting for 49% of all used cars sold at an average price of $23,089. This was 9% below the average listing price for all vehicles sold.
But not every model from these brands will outperform competitors, Autotrader explained.
Inspect the Used Car Before Purchasing
When looking for a new car, you’ll likely encounter deals that are too good to be true. But no matter what, KBB and Autotrader said you’ll need to perform your own research and vehicle inspection before making a commitment. Here are a few considerations to keep in mind:
Research the car model and check for recalls. Research the car’s model history online and check for recalls to see if the model experiences repetitive issues. Fixing some issues can cost hundreds or even thousands of dollars.
Get a vehicle history report. Ask the owner or dealer for a vehicle history report. This should show you accident history, repairs, maintenance schedule, recalls and sometimes even oil changes. You can also purchase these reports online from websites like AutoCheck and Carfax.
Look for rust. Check under the hood and the underside of the vehicle for rust, especially in states that use salt to melt snow or in hurricane and flood-prone regions, KBB reported.
Inspect susceptible age-related components. Check the components that are the most susceptible to wear and tear, including brake rotors and pads, tires, shock absorbers, radiators, heat cores, and others.
Ask about the vehicle’s driving history. Autotrader noted that some miles may be harder on one car than others. For example, if a car was driven primarily in the city with stop-and-go traffic, it may have more wear and tear on the brakes and transmission than vehicles that mostly drove on the highway.
Keep safety features in mind. Safety features and technology have improved significantly over the years. Older models may not offer as many or lack important upgrades.
Get it inspected by a certified mechanic. You have the right to a pre-purchase inspection before purchasing the vehicle. This is a detailed inspection by a certified mechanic or specialist to assess mechanical, aesthetic and safety conditions, according to J.D. Power.
Consider buying a certified pre-owned vehicle (CPO). A CPO is a vehicle that has undergone inspection and has been repaired as necessary.
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This article originally appeared on GOBankingRates.com: Buying a Used Car: The Best Age and Mileage To Get Great Value
