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How much $$$ reduction per 10k mileage?

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Old 05-12-2012, 06:59 PM   #1
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How much $$$ reduction per 10k mileage?

All things being equal, say for a 2004 Xtracab Prerunner, 2WD,3.4L in very good condition (I'll use mine as an example), how much difference in value would you price one with 120K miles vs one with 80K miles? What premium do you put on less mileage?

How much does -10K add to the value?
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Old 05-13-2012, 06:32 AM   #2
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That's pretty hard to say, especially depending on region, year of model, age, etc. Also, depreciation isn't linear, therefore, it depends on what stage of life as to how quickly it is depreciating.

However, to try to make a feeble attempt at answering the question:

Considering the age of a 2004 (8 years old), I wouldn't think that 40,000 miles would equate to more than a few hundred bucks...or $1000 at most.

Personally, I hate buying vehicles with high mileage. I bought my 2003 with only 2,000 miles on it. So, I ended up with a near brand new truck but didn't have to pay the brand new price. However, I don't mind if I rack up a zillion miles because I know that I maintained the vehicle. When buying a truck with a bunch of miles, you have no idea what a previous owner(s) may have done.

For a test you could run your scenario on KBB or NADA.
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Old 05-13-2012, 07:44 AM   #3
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Quote:
Originally Posted by TacomaJPP View Post
For a test you could run your scenario on KBB or NADA.
This. Most people will gauge their buying price based on these and the overall experience of the test drive.
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Old 05-13-2012, 07:55 AM   #4
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There is no set formula per 10k, the first 10 miles drop it the most. Just based off of used car prices I see, I would actuallysay that percentage wise you lose less with every 10k miles. Obviously something with 120k is more than likely going to cost less than something with 80k, but it is not going to be that much less.
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Old 05-13-2012, 08:08 AM   #5
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Look your trk up and value it with 80k than with 120k.
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