Why Are Dealerships Stocking and Selling Cars With More Than 150K Miles?
It wasn’t too long ago that dealerships avoided selling used cars with more than 150,000 miles on the odometer. Very rarely did they, and there were usually some particular circumstances around it. Whether it was a limited model or it was in immaculate condition, there was a reason why they were selling the specific models. Nowadays, with the market of both new and used models being as crazy as it is, dealerships routinely stock used high-mileage cars to help shoppers.
What does this mean for shoppers like yourself, and how can you be sure you are getting a good car?
High mileage used cars aren’t like they were in years past
One of the big reasons dealerships are more comfortable selling these high-mileage models is that modern cars last longer. Gone are the days of vehicles needing to be replaced after a few years of driving or more serious repairs required sooner. In 2021, IHS Markit noted that the average age of cars is now 12.1 years, which is a rise of 2 months. While that doesn’t seem like a huge increase, it’s an increase nonetheless. As a result, fewer used cars end up at the scrapyard because drivers can repair the vehicle instead.
Aside from cars being, on average, older, a few other aspects give dealerships the confidence to load up the lot of high-mileage used models. One of the main reasons is that new car prices have been steadily rising, making used cars more valuable. This also ties back to the fact that used cars are being repaired instead of scrapped.
The microchip shortage is the final reason it’s more common to find high-mileage used cars on dealership lots. This shortage turned the automotive industry upside down and made finding new models more difficult. As a result, the prices of used vehicles have increased nearly 40%! More importantly, many used models sold are coming off lease, turning shoppers to consider higher-mileage used models. Because of this, drivers are getting more confident in buying these high-mileage used models.
There can be plenty of profit in these models
When dealerships are looking at putting these models on the lot, they can see some great profit hidden in these models. The high-mileage models available can help shoppers not only get a sedan that they can trust for many more years. More importantly, the dealership’s models are in good condition in many cases, only needing minor repairs. It’s also important to understand that dealerships take models that do not require significant work. In many cases, these high-mileage models come with clean vehicle history, no major accidents or repairs, and only need minor repairs or cosmetic services.
Because of how upside-down the current automotive market is, offering used cars with higher-than-expected miles can be a good thing. It can help drivers like yourself get behind the wheel of something they can trust. Additionally, reputable dealerships that are selling models these high-mileage models wouldn’t put their reputation at risk by selling a used model that couldn’t be trusted.
Buyers are more comfortable with high-mileage used cars
In the past, the idea of a used car with high mileage was concerning. You may have thought you were getting a great deal, but you could spend quite a bit of money after a little bit. But, many of the more modern used cars, even those 10-12 years old, are much more reliable.
If you are shopping for a car and find yourself drawn to Honda and Toyota models, you can feel more confident in your purchase. Many of these different models, even with high miles, can last for many years. Honda and Toyota are popular choices because of the longevity and reliability that they can offer. Purchasing one of these models, in particular, will help you to get a car that can easily last.
Tackle more adventures with confidence
Shopping for a used car can be a memorable experience thanks to the popularity and abundance of different used cars available. Drivers are going to love what a used car can offer. More importantly, you can get an outstanding used car if you look at your local dealership’s different high-mileage options.
No matter what you are looking for in, choosing a high-mileage model may be best.