Author Topic: Buying Used Car - When to sell  (Read 1029 times)

LearningMustachian72

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Buying Used Car - When to sell
« on: June 17, 2020, 04:18:59 PM »
Hey!

I’m buying a used car for roughly $20k that will have roughly 40k miles. I know this isn’t cheap but We need a larger vehicle with AWD for what we will be using it for (Subaru Outback).

My question is, should I sell it before it gets to 100k miles.

I have had Toyota’s in the past and typically run them into the ground but wondering if there is more value in selling before 100k and building this into my long term budget?

Thanks in advance!

Buffaloski Boris

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Re: Buying Used Car - When to sell
« Reply #1 on: June 17, 2020, 07:19:51 PM »
Why sell a running vehicle?  A good car is just getting broken in at 100k. So long as it’s running and the repairs are less than a car payment you’re money ahead. So no, I wouldn’t plan to sell a vehicle at 100k unless it was a hunk of junk or we strongly disliked it.

You can get a well broken in 4x4 for a whole lot less than $20 large.

ixtap

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Re: Buying Used Car - When to sell
« Reply #2 on: June 17, 2020, 07:22:30 PM »
You will get more for the car at 100k miles than 200k, but then you will have to replace it with something that will cost even more. I thought one of the benefits of a Suburu was supposed to be that they last? 100k is like calling someone old at 35.

Turnbull

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Re: Buying Used Car - When to sell
« Reply #3 on: June 17, 2020, 07:26:02 PM »
I don't even like to buy vehicles until they have about 100k miles.

friedmmj

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Re: Buying Used Car - When to sell
« Reply #4 on: June 17, 2020, 07:38:12 PM »
I don't even like to buy vehicles until they have about 100k miles.

Good take.

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chemistk

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Re: Buying Used Car - When to sell
« Reply #5 on: June 18, 2020, 05:55:44 AM »
I think you need to look at what your vehicle needs may be 5 to 7 years in the future, which is when (on average, not mustachian levels of driving) you'll hit that 100k mark.

The only thing more important to the average used car buyer than mileage is age. A car that's 3 years old with 100k miles is, cosmetically, going to look pretty great, minus the expected rock chips and scratches from extensive highway driving. The interior is also going to be in very good condition and will be more up-to-date than a 10 year old used car. The 10 year old used car will inevitably have more cosmetic blemishes and faults in the interior.

By this, I mean, it might be mostly a moot point whether you sell it before or after 100k miles. Or whether you sell it near 200k miles.

A quick KBB exploration (not exactly the scenario you'd be in):

A 2015 Subaru Outback with 95k miles is estimated to sell private party (in my area) for $10,950
An identical 2014 Outback with 105k miles is estimated to sell private party for $10,050
A similarly spec'd 2010 Outback with 195k miles is estimated to sell private party for $4,650

If you average 10k miles a year, $900 in additional depreciation costs is not a bad deal. If you don't expect major repairs (although, it is a Subaru) then holding it for another 5 years isn't so bad, either.

So that gets me back to my original point - your car will hold some measure of value for a long time assuming you can keep it looking decent and keep it running. Will it serve your needs in 5 years? 10? If it likely will, I wouldn't even worry about selling it at any point in the future.


ketchup

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Re: Buying Used Car - When to sell
« Reply #6 on: June 18, 2020, 08:23:23 AM »
I don't even like to buy vehicles until they have about 100k miles.
This is my take too.  Our two current vehicles were bought at 91k (now 108k) and 140k (now 202k).  As long as you pick out something decent, it's a whole lot cheaper to go 100k-200k than to go 0-100k.  If you sell at 100k, you're just giving someone else a deal.

LearningMustachian72

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Re: Buying Used Car - When to sell
« Reply #7 on: June 18, 2020, 08:39:55 AM »
Thanks for all of the input!

I have always been of the camp to buy and drive until they basically can’t but never did any of the math that some of you broke out here.  That is what I was looking for, thanks again!

 

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