I've got a problem, I drive too much. Round trip 50 miles a day to work. I work from home two days a week most of the time so I drive on average 150 - 200 miles a week. I currently have a 2006 Nissan Altima that gets about 28 mpg on the highway and takes a quart of oil every fill up. (I'm burning oil from the piston rings yeah so worst case of where to be losing it from) I can get $700 for the car right now from CarMax and sell it with a clean conscious. (I wouldn't feel right passing this off to another end user)
Here are my options:
1) Take the $700 now buy a new to me car.
2) Spend an extra $4 each fill up and see how long it lasts (and also get an aftermarket engine oil treatment that claims to seal the leaky valves)
Either way I'm going to be in the market for a new to me car. When selecting a used car does anyone know what the ratio of price to mileage I should be looking for. Three examples for demonstration purposes (not that I love a Veloster just one of the many cars I'd consider):
1) 2015 Hyundai Veloster, 4k Miles, $17,000
2) 2013 Hyundai Veloster, 19k Miles, $14,600
3) 2013 Hyundai Veloster, 38k Miles, $13,000
Using option 2 and 3 It's $1,300 for 19K miles which is close to two years worth of driving or using option 1 vs. option 3 it's 34k miles for $4k in price or three years worth of driving. How have others made a decision on price to mileage, is there a ratio I should look for?