How Mileage Shapes Your Car’s Selling Price
An odometer tracks the total miles a car has traveled. It is displayed on the dashboard. Newer cars show digital numbers, while older ones have rolling digits. Sellers share this number during a sale, and buyers use it to check the car’s history. Fewer miles often indicate less damage, while more miles suggest wear and tear.
Mileage and Car Value Connection
Mileage directly affects a car’s price. A 2020 CarGurus report showed that cars with 50,000 miles sell for 15% more than those with 120,000 miles. Consider a 2016 Toyota Corolla: one with 40,000 miles might sell for $11,000, while another with 140,000 miles could drop to $7,500. Even junk cars are affected by mileage. Lower mileage boosts offers from buyers like runbidsell.com.
Laws You Need to Know
The U.S. enforces strict odometer rules. The Federal Odometer Act requires honest mileage reports. Tampering with an odometer is fraud and illegal. Violators can face fines up to $10,000, or even jail time. States have their own rules too. For example, Texas requires mileage disclosure on titles for cars under 10 years old. Junk car sellers must follow these rules unless the car is too old to count.
Common Seller Questions
Q: What if my odometer stops working?
A: Be upfront. Use repair records to estimate the miles. Truthfulness keeps you safe.
Q: Do I need a reading for an old car?
A: Not always. Most states do not require it for cars over 10 years old. Confirm with your state.
Q: Does mileage matter if the car won’t run?
A: Yes. Fewer miles can increase the price, even for a non-running car.
Why Buyers Focus on Miles
Buyers see mileage as a key indicator of a car’s health. A car with 180,000 miles might soon need major repairs, while one with 60,000 miles could last much longer. For wrecked cars, mileage affects the value of individual parts; a low-mileage engine sells better. Honesty in reporting mileage builds trust, and hiding true mileage makes buyers suspicious.
Steps to Get Your Odometer Reading Right
- Look at your odometer and note the number exactly.
- Find old service papers and check oil change records or files kept in the glovebox.
- Stay honest, lies can get you into trouble.
- Snap a picture of the reading to support your claim.
- Call runbidsell.com and ask how mileage affects your deal.
The Cost of Odometer Tricks
Some sellers intentionally lower the mileage, which is considered fraud. A 2023 Department of Justice study found that 400,000 cars each year have fake readings. Sellers caught engaging in fraud face fines or court cases. Modern cars store mileage in computer systems, and mechanics can detect tampering. Honest sellers avoid these risks and remain trusted.
Mileage Stats That Prove the Point
Data shows the power of accurate mileage. Autotrader reports that every 20,000 miles can cut a car’s value by 8% to 12%. For a $5,000 car, that means a loss of $400 to $600. Even junk cars lose value when they have high mileage. A 2022 iSeeCars poll found that 65% of buyers rank mileage as a top factor, and 39% said it affected their bid for damaged cars. Miles count every time.
What to Do With a High Mileage Car
If you have a car with high mileage, you can still sell it. Be clear about the number and show records if available. Buyers like RunBidSell will provide quotes based on both mileage and condition. Keep in mind that some buyers may reject high-mileage cars, even junk ones; a car with over 200,000 miles might get fewer offers. However, a beat-up car with 50,000 miles might outprice a clean one with 150,000 miles. Know your car’s story and share it openly.