WHAT PRICE FOR MILEAGE

[Barney Eaton]

As our cars age and mileage creeps up,  what part do you think mileage plays or should play in the pricing?

Presently there are two 1990 white convertibles for sale on our site.   One is a under 14K car with 16 way seats and factory CD,  the other is a Select 60 which has a certain appeal and it has 73K

If the overall condition was the same how much do you think the mileage should affect the asking price.........or the price you would pay.

Would you pay $1,000 more for a car with 10K less mileage?  (that would be 10 cents per mile)  

In this case there is a tad under 60K difference between these cars.....is the lower mileage car worth $6,000 more or is $3000 a more realistic figure....

Again in this case we are not quite talking apples/apples since one is a Select 60.....but try and overlook that and consider similar cars.

[John_S_in_Penna]

A friend of mine, who has been a dealer

emphasizing Cadillacs, has tended to get

1970's Cadillacs.  He told me that "low mileage"

would add 10% to 20% to a car's value, in his

estimation.  He didn't say how low was "low,"

but I gathered he was talking of 20,000 miles, 30,000 miles.

There are innumerable low-mileage 1976 Eldorado

convertibles around, and quite a few Cadillacs

from the late 1970's.

 

For very early cars--say the 1910's or early 1920's--

people didn't drive great distances, and it's COMMON

for those cars to have 20,000 or 30,000 miles on them!

But I realize, Barney, you're asking about Reattas in particular.

Edited December 8, 2016 by John_S_in_Penna (see edit history)

[Blue90]

At a certain point you have to decide what mileage is worth to you in response to what will be the main use of the car (show, drive).  I'm sure we would all like to own low mileage rides but I'm not sure it makes much of a difference with a Reatta.  I use my car as an example:  Most of you know my car; 1990 Maui coupe.  I bought this car in 2003 with 160,000 miles on it for $5,000; all maintenance receipts, car beautiful.  Most people (except my wife, mind you, not-a-collector-Karen) thought I was crazy.  Fast forward 13+ years and the coupe now has over 230,000 miles;  Still looks beautiful, still runs strong, I'd drive it anywhere.  I couldn't afford a low mileage Reatta so for a high mileage car I got just what I wanted.  It was worth it to me.  And I bought local.

[ChrisWhewell]

I think it depends on what one intends to do with the vehicle.   If the goal is to drive it around, I don't think mileage matters much, because of the age of these vehicles by now.  Like, are the electronics, Teves, and other systems and features any more reliable on a 30 year old car with 10k miles, than the same one that's been driven 80k miles ?  Rubber gaskets, seals, etc. deteriorate with time regardless of whether the vehicle is driven or not, and sometimes not driving a vehicle can be worse than driving it.  If on the other hand the goal is to put the car in a personal or other museum, or buy it to leave as part of an estate in the hopes these cars will become desirable as a 68 Camaro Rally Sport someday, lower mileage might add a little value.   I just drive mine, I can't take it with me, and have no intention of starting a collection.   I bought my 90 2 years ago with 78k on it, which I thought was reasonable and the car only ran me 2500 babelbucks.   What's mileage worth ?    For one extreme, pick a highly sought car like a Hemi 'Cuda and look at what mileage is worth on those.  Then, pick another mediumly-sought car and do the same.   Then, ask - "who of this generation of so-called millenialls is going to want this car?"  My guess is, nobody is going to ever want to pay a premium on a Buick Reatta that they intend drive around in - so the market is limited to museums or personal collectors.    Millenialls won't buy these cars, this generation can't even change a windshield wiper and Reattas need maintenance !    I think a car with less than 10k miles on it is probably worth $5k more than one with more than 20k mi but the market is very limited.   Am I good at rambling on and saying nothing, or what !! ??   Ok, time for another cup of coffee

[padgett]

Personally would rather have the higher milage S60 but I like the features. OTOH I have six cars and want a Caddy XLR once the price comes down a bit so will probably sell the GTP since a bit redundant and the Crossie is both faster and easier to park.

 

Never mattered that much when odos only went to 99,999.9

[NCReatta]

I would prefer a 150,000 mile car from California or Arizona over a 50,000 mile car from Michigan or Minnesota. Issues caused by mileage (transmissions, cosmetics etc) can be repaired. Rust never goes away. 

[Barney Eaton]

Marck has a very good point, that bargain car in New York state may soon prove to be less than a bargain.

[padgett]

Bottom line, better to have a car driven 5,000 miles a year garaged in a no-rust state than one with 10,000 total driven in salt even once.

 

When I go to the beach, on return the car gets a thorough pressure wash over and under.

[ChrisWhewell]

That was the predominant reason I bought mine.   The undercarriage and engine compartment looked showroom new.    That was September 2015 and I knew absolutely nothing about the Reatta.   Bought it around 7 pm and drove off.    Tried to turn on the headlights but the switch was broken.   It took me about 15 minutes to find how to open the gas tank door.  I'd just figured, if the undercarriage, engine compartment, etc were so nice, I could handle fixing all the other little crap.   My my, I've learned so much.   And have you all to thank for your help too.   I can't thank you enough, thank you again.

[lancemb]

For low mileage examples, I doubt it matters if it comes from a rust belt state, as the cars would have only been driven in the summer.

[39BuickEight]

It all comes down to the individual buyer and what they are looking for.  Some higher mile cars have been better cared for.  Each car always stands on its own, and each buyer is looking for something different.   Chris makes a lot of good points too.