Depreciation based on mileage
#1
Pro
Thread Starter
Depreciation based on mileage
Odd question.
im not intending to sell my gt3 any time soon.
But I'm curious what effect mileage has on resale on an already higher mileage gt3 like mine.
For example how much approximate depreciation occurs per 1000 miles on a DD car with 45k miles already?
I ask because I'm in the middle of a short road trip now and am contemplating some longer road trips this year in my gt3.
In some ways i am living by the moniker in the other thread of life is too short to drive boring cars.
But how much penalty is there?
Thanks
im not intending to sell my gt3 any time soon.
But I'm curious what effect mileage has on resale on an already higher mileage gt3 like mine.
For example how much approximate depreciation occurs per 1000 miles on a DD car with 45k miles already?
I ask because I'm in the middle of a short road trip now and am contemplating some longer road trips this year in my gt3.
In some ways i am living by the moniker in the other thread of life is too short to drive boring cars.
But how much penalty is there?
Thanks
#2
Rennlist Member
Who cares. You're already past the point of not return.
#3
I agree. I got a pretty good deal on my .2 GT3 because it had 40k miles on it. It was CPOd so I jumped on it. I now have 52k miles on it and drive it everywhere, including on track. Don't care what happens to resale because it already has "too many miles", but I enjoy every one of them I'm putting on it. If I ever sell it, somebody else will get a good deal and a wonderful car to continue enjoying.
#4
Odd question.
im not intending to sell my gt3 any time soon.
But I'm curious what effect mileage has on resale on an already higher mileage gt3 like mine.
For example how much approximate depreciation occurs per 1000 miles on a DD car with 45k miles already?
I ask because I'm in the middle of a short road trip now and am contemplating some longer road trips this year in my gt3.
In some ways i am living by the moniker in the other thread of life is too short to drive boring cars.
But how much penalty is there?
Thanks
im not intending to sell my gt3 any time soon.
But I'm curious what effect mileage has on resale on an already higher mileage gt3 like mine.
For example how much approximate depreciation occurs per 1000 miles on a DD car with 45k miles already?
I ask because I'm in the middle of a short road trip now and am contemplating some longer road trips this year in my gt3.
In some ways i am living by the moniker in the other thread of life is too short to drive boring cars.
But how much penalty is there?
Thanks
How high is high?
Definitely it would affect how soon to get buyer and resale value. But I think gt3 selling quickly right now for the right price.
My friend a used car sales man always says, you can sell anything for the right price.
#5
Race Director
Odd question.
im not intending to sell my gt3 any time soon.
But I'm curious what effect mileage has on resale on an already higher mileage gt3 like mine.
For example how much approximate depreciation occurs per 1000 miles on a DD car with 45k miles already?
I ask because I'm in the middle of a short road trip now and am contemplating some longer road trips this year in my gt3.
In some ways i am living by the moniker in the other thread of life is too short to drive boring cars.
But how much penalty is there?
Thanks
im not intending to sell my gt3 any time soon.
But I'm curious what effect mileage has on resale on an already higher mileage gt3 like mine.
For example how much approximate depreciation occurs per 1000 miles on a DD car with 45k miles already?
I ask because I'm in the middle of a short road trip now and am contemplating some longer road trips this year in my gt3.
In some ways i am living by the moniker in the other thread of life is too short to drive boring cars.
But how much penalty is there?
Thanks
Based on this then a used car with 6K or fewer miles per year average would be considered a low miles car and one could expect it to command a premium price. One with 9K miles or more per year average would be considered a high miles car and one could expect it to not be able to command a premium price just the opposite.
But how much a premium a low miles car could command vs how much a high miles car might have to be discounted is hard to say.
You might get some kind of idea by visiting a used car site like NADA or KBB and plugging in your car's numbers but playing with the mileage. Get a "price" for your car with 6K miles per year and then 9K miles per year.
You can mitigate the miles somewhat by properly servicing the car and documenting this.
If you can say the car is stock and has not seen any track time that's a plus when it comes to resale.
#6
Rennlist Member
What would be the price difference for the same GT3 with 35k and 45k miles? Maybe $10k??
At 45-50k miles your car's next owner will be planning to drive it, not have it sit in a garage. Maybe the question should be, would a non-GT car depreciate faster based on mileage compared to a GT3? If the answer is yes, just drive and maintain it.
At 45-50k miles your car's next owner will be planning to drive it, not have it sit in a garage. Maybe the question should be, would a non-GT car depreciate faster based on mileage compared to a GT3? If the answer is yes, just drive and maintain it.
#7
Originally Posted by balefire
Odd question.
im not intending to sell my gt3 any time soon.
But I'm curious what effect mileage has on resale on an already higher mileage gt3 like mine.
For example how much approximate depreciation occurs per 1000 miles on a DD car with 45k miles already?
I ask because I'm in the middle of a short road trip now and am contemplating some longer road trips this year in my gt3.
In some ways i am living by the moniker in the other thread of life is too short to drive boring cars.
But how much penalty is there?
Thanks
im not intending to sell my gt3 any time soon.
But I'm curious what effect mileage has on resale on an already higher mileage gt3 like mine.
For example how much approximate depreciation occurs per 1000 miles on a DD car with 45k miles already?
I ask because I'm in the middle of a short road trip now and am contemplating some longer road trips this year in my gt3.
In some ways i am living by the moniker in the other thread of life is too short to drive boring cars.
But how much penalty is there?
Thanks
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#8
Burning Brakes
At this point, cars are either low miles or not. You are firmly in the not category at this time. If you wait 10 years and don't drive the car who knows. But who cares. Drive the car if you want to drive the car. It's an amazing car.
#9
#10
I might be in the minority but I on a higher mile car I would only go on condition, service record, ppi. Seen cars with 60k miles that are in better condition than 30k mike cars.
#11
Rennlist Member
My ex-993 had 62K miles when I took the picture just before I sold it in 2011. Original paint, etc.
Miles don't matter to me assuming it is the right car that has obviously been properly maintained and lovingly cared for. The blue car pictured at the bottom had 120K miles when I traded it to a friend as partial payment for my GT3 in 2013. I don't believe that "reasonable for the age" mileage will have as much of an impact on value as a car gets older. The collectors who value numbers and uber-low mileage will always pay a premium. I doubt that those us who drive and enjoy our cars and don't treat them as objets d'art aren't nearly as concerned about the miles on the odometer.
Miles don't matter to me assuming it is the right car that has obviously been properly maintained and lovingly cared for. The blue car pictured at the bottom had 120K miles when I traded it to a friend as partial payment for my GT3 in 2013. I don't believe that "reasonable for the age" mileage will have as much of an impact on value as a car gets older. The collectors who value numbers and uber-low mileage will always pay a premium. I doubt that those us who drive and enjoy our cars and don't treat them as objets d'art aren't nearly as concerned about the miles on the odometer.
#12
All materials on vehicles deteriorate. Some faster than others. Environment sometimes has a more detrimental effect than age or mileage.
Rubber, when subjected to the hot/cold cycles found in the engine compartment will require replacement more frequently. However, in some areas of a vehicle, the rubber will decompose whether the car is driven or not.
Vehicles driven in cold, icy climates and near ocean spray are subjected to corrosion from salt and other chemicals.
Maintenance and extreme usage of drivetrain components have widespread effects, both positive and negative.
High mileage, in a controlled environment with proper maintenance, should not be the only factor used to determine value, especially with a GT drivetrain that has proven its durability during decades of extreme use.
Rubber, when subjected to the hot/cold cycles found in the engine compartment will require replacement more frequently. However, in some areas of a vehicle, the rubber will decompose whether the car is driven or not.
Vehicles driven in cold, icy climates and near ocean spray are subjected to corrosion from salt and other chemicals.
Maintenance and extreme usage of drivetrain components have widespread effects, both positive and negative.
High mileage, in a controlled environment with proper maintenance, should not be the only factor used to determine value, especially with a GT drivetrain that has proven its durability during decades of extreme use.