28/05/2008

Help with high mileage valuation

I used your site to do a valuation on my Mercedes, the prices given were as follows:

TRADE IN - EXCELLENT £8,810
TRADE IN - AVERAGE £8,010
TRADE IN - BELOW AVERAGE £7,070

My question is as I have 176,000 miles on the clock and your site would only allow me to put in 150,000 how much less would the valuation be? Is there a set amount of money per mile or would it not make any difference? Thank you

Hi Richard,

they are quite high values for such a high mileage vehicle, and the market is very slow at present, so I would guess values would be lots lower unless it is a really special car.

What is important for values on a high mileage car is condition, but obviously there is a point above which condition becomes less relevant than how comfortable a buyer is with high miles. I have to say I think 176k compared to 150k would carry quite a hefty penalty in private sale/trade in. Depends on the vehicle, how high demand is running and how limited supply is, particularly at certain price points, but it would be more than a small amount.

Sincerely,

John Glynn
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