How Much Do Miles Affect Value?
Thread Starter
Le Mans Master
Joined: Oct 2004
Posts: 5,841
Likes: 19
From: CLT, North Carolina
How Much Do Miles Affect Value?
Condition and apparently miles driven are very important when deciding a price for buying or selling a C4. Is there a rule-of-thumb or a guide to help evaluate a car for miles? It seems like everybody wants low miles but how much of a premium should you put on low miles? All other things including condition being equal, how much does low miles help? How much does high miles hurt provided the car has had good maintenance and everything is in good working order?
Greg
Greg
Last edited by Greg Gore; Jan 17, 2006 at 01:30 PM.
Team Owner
Joined: Aug 2000
Posts: 40,156
Likes: 45
From: San Pedro CA
not really... the more miles, the cheaper they get.
if you see a low mileage trailer queen, I get worried. there will be leaks to deal with - and it will cost a premuim. And unless you are ready to park it and look at it, the first 1000 miles you add (and the associated paint chips) will knock money off of it faster than a Bush Supreme Court nominee gets kicked.
if you see a low mileage trailer queen, I get worried. there will be leaks to deal with - and it will cost a premuim. And unless you are ready to park it and look at it, the first 1000 miles you add (and the associated paint chips) will knock money off of it faster than a Bush Supreme Court nominee gets kicked.
Race Director
Joined: May 2002
Posts: 10,306
Likes: 15
Originally Posted by bogus
not really... the more miles, the cheaper they get.
if you see a low mileage trailer queen, I get worried. there will be leaks to deal with - and it will cost a premuim. And unless you are ready to park it and look at it, the first 1000 miles you add (and the associated paint chips) will knock money off of it faster than a Bush Supreme Court nominee gets kicked.
if you see a low mileage trailer queen, I get worried. there will be leaks to deal with - and it will cost a premuim. And unless you are ready to park it and look at it, the first 1000 miles you add (and the associated paint chips) will knock money off of it faster than a Bush Supreme Court nominee gets kicked.
Mileage is critical in the price of a Vette. Always buy the lowest mileage Vette (that has been maintained)
Obviously, it does not make sense to pay a premium for a Vette with a few hundred miles if you are just going to drive the doors off of it. Or it might make sense if you like older cars that look new, just keep in mind it is going cost you in the wallet.
Personally, I like to buy Vettes in the 30-40,000 mileage range. You can get a car that is in almost new shape but most times it has depreciated 50%
It really comes down to each car though. I've seen some people drive their cars so hard that after 40k miles they are pretty beat up both mechanically and cosmetically. I've seen other cars with 100k miles that look great costmetically but parts start to wear out such as alternators, water pumps, belts, hoses etc etc
A car has a useful life and although we know Vettes can go 200,000 miles+ Most people judge the car on 0 - 100,000 miles.
Most people don't like to drive a car with more miles then that because they feel they can run into big expenses (which is true)
Last edited by xlr8nflorida; Jan 17, 2006 at 03:23 PM.
Race Director
Joined: May 2001
Posts: 14,165
Likes: 9
At the same time though you have to remember that a car that can potentially be over 20 years old can still have mechanical problems even with low miles. The LT1's seem to be the worst of these with the water pump seizing from non-use, and then it pukes on the opti and takes it out.
That's why I say I'd rather have car with a reasonable amount of miles on it as opposed to a garage queen provided everything else was equal. Now as we know everything else usually is not equal, so that has to be considered as well.
Contrary to popular belief automobiles are made out of moving parts that are designed to move. The worst thing you can do for them is to let them sit for extended periods without running. I'm not saying you have to drive the crap out of them either, just fire them up once a week or at the very least once a month and drive them around a little while.
That's why I say I'd rather have car with a reasonable amount of miles on it as opposed to a garage queen provided everything else was equal. Now as we know everything else usually is not equal, so that has to be considered as well.
Contrary to popular belief automobiles are made out of moving parts that are designed to move. The worst thing you can do for them is to let them sit for extended periods without running. I'm not saying you have to drive the crap out of them either, just fire them up once a week or at the very least once a month and drive them around a little while.
Race Director
Joined: May 2002
Posts: 10,306
Likes: 15
Originally Posted by Nathan Plemons
At the same time though you have to remember that a car that can potentially be over 20 years old can still have mechanical problems even with low miles. The LT1's seem to be the worst of these with the water pump seizing from non-use, and then it pukes on the opti and takes it out.
True, that is why I said maintained plus on a critical part like a water pump I would put a new one in anyway - not worth the risk.
Contrary to popular belief automobiles are made out of moving parts that are designed to move. The worst thing you can do for them is to let them sit for extended periods without running. I'm not saying you have to drive the crap out of them either, just fire them up once a week or at the very least once a month and drive them around a little while.
True, that is why I said maintained plus on a critical part like a water pump I would put a new one in anyway - not worth the risk.
Contrary to popular belief automobiles are made out of moving parts that are designed to move. The worst thing you can do for them is to let them sit for extended periods without running. I'm not saying you have to drive the crap out of them either, just fire them up once a week or at the very least once a month and drive them around a little while.
Corvette Stories
The Best of Corvette for Corvette Enthusiasts
Top 10 Corvette Engines RANKED by Peak Torque (70+ Years of Muscle!)
Joe Kucinski
Corvette ZR1X Will Be Pacing the Indy 500, And Could Probably Race, Too!
Verdad Gallardo
Top 10 Corvettes Coming to Mecum Indy 2026!
Brett Foote
Top 10 C9 Corvette MUST-HAVES to Fix These C8 Generation Flaws!
Michael S. Palmer
10 Revolutionary 'Corvette Firsts' Most People Don't Know
Joe Kucinski
5 Reasons to Upgrade to an LS6-Powered Corvette; 5 Reasons to Stay LT2
Michael S. Palmer
2027 Corvette vs The World: Every C8 vs Its Closest Competitor
Joe Kucinski
10 Most Common Corvette Problems of the Last 20 Years!
Joe Kucinski
5 MOST and 5 LEAST Popular Corvette Model Years in History!
Joe Kucinski
Race Director
Joined: May 2001
Posts: 14,165
Likes: 9
My dad's 1946 pickup is a prime example of this. When it runs, it tends to run great. Unfortunately it doesn't get driven as frequently as we would like and such can be a real PITA sometimes.
Last edited by Nathan Plemons; Jan 17, 2006 at 03:52 PM.
Team Owner
Joined: Aug 2000
Posts: 40,156
Likes: 45
From: San Pedro CA
Originally Posted by xlr8nflorida
Not true and a myth, one of my Vettes has always been under 20k and with no leaks. It never did more then 2,000 miles a year in its life.
Mileage is critical in the price of a Vette. Always buy the lowest mileage Vette (that has been maintained)
Obviously, it does not make sense to pay a premium for a Vette with a few hundred miles if you are just going to drive the doors off of it. Or it might make sense if you like older cars that look new, just keep in mind it is going cost you in the wallet.
Personally, I like to buy Vettes in the 30-40,000 mileage range. You can get a car that is in almost new shape but most times it has depreciated 50%
It really comes down to each car though. I've seen some people drive their cars so hard that after 40k miles they are pretty beat up both mechanically and cosmetically. I've seen other cars with 100k miles that look great costmetically but parts start to wear out such as alternators, water pumps, belts, hoses etc etc
A car has a useful life and although we know Vettes can go 200,000 miles+ Most people judge the car on 0 - 100,000 miles.
Most people don't like to drive a car with more miles then that because they feel they can run into big expenses (which is true)
Mileage is critical in the price of a Vette. Always buy the lowest mileage Vette (that has been maintained)
Obviously, it does not make sense to pay a premium for a Vette with a few hundred miles if you are just going to drive the doors off of it. Or it might make sense if you like older cars that look new, just keep in mind it is going cost you in the wallet.
Personally, I like to buy Vettes in the 30-40,000 mileage range. You can get a car that is in almost new shape but most times it has depreciated 50%
It really comes down to each car though. I've seen some people drive their cars so hard that after 40k miles they are pretty beat up both mechanically and cosmetically. I've seen other cars with 100k miles that look great costmetically but parts start to wear out such as alternators, water pumps, belts, hoses etc etc
A car has a useful life and although we know Vettes can go 200,000 miles+ Most people judge the car on 0 - 100,000 miles.
Most people don't like to drive a car with more miles then that because they feel they can run into big expenses (which is true)
Ask Mr Mojo. He has a 93 and a 95. I don't remember which is which, but one is a high mileage 6spd, the other, a low mileage A4.
The problem is that the low mileage A4 has caused him more grief in the first 3 months than the 6spd has ever caused.
2000 miles a year is just enough to keep the seals soft... but many times a car with low miles is simply not driven enough to keep those seals soft. I have read too many posts on this forum over the last 5.5 years to tell ya... get an older trailer queen and you will have to do serious PM.
Team Owner
Joined: Oct 2004
Posts: 81,241
Likes: 3,062
From: altered state
St. Jude Donor '05
Think it depends on the car and the demand for them. I'm selling a somewhat collectible car (An 87 TSI) with 52k miles, car is cherry. Out of curiosity I asked my insurance broker to make an adjustment in value for miles being as they are low.....$50. 
Team Owner
Joined: May 2002
Posts: 24,337
Likes: 25
From: San Diego , CA Double Yellow DirtBags 1985..Z51..6-speed
IMO, mileage affects price VERY MUCH, but affects value very little.
For the same amount of time, letting my car sit has caused more damage to it than driving/racing it has.
For the same amount of time, letting my car sit has caused more damage to it than driving/racing it has.
Team Owner
Joined: May 2002
Posts: 24,337
Likes: 25
From: San Diego , CA Double Yellow DirtBags 1985..Z51..6-speed
Originally Posted by Nathan Plemons
At the same time though you have to remember that a car that can potentially be over 20 years old can still have mechanical problems even with low miles. The LT1's seem to be the worst of these with the water pump seizing from non-use, and then it pukes on the opti and takes it out.
That's why I say I'd rather have car with a reasonable amount of miles on it as opposed to a garage queen provided everything else was equal. Now as we know everything else usually is not equal, so that has to be considered as well.
Contrary to popular belief automobiles are made out of moving parts that are designed to move. The worst thing you can do for them is to let them sit for extended periods without running. I'm not saying you have to drive the crap out of them either, just fire them up once a week or at the very least once a month and drive them around a little while.
That's why I say I'd rather have car with a reasonable amount of miles on it as opposed to a garage queen provided everything else was equal. Now as we know everything else usually is not equal, so that has to be considered as well.
Contrary to popular belief automobiles are made out of moving parts that are designed to move. The worst thing you can do for them is to let them sit for extended periods without running. I'm not saying you have to drive the crap out of them either, just fire them up once a week or at the very least once a month and drive them around a little while.
Well stated.
Racer
Joined: Jun 2004
Posts: 392
Likes: 7
From: Massachusetts
Low mileage cars suck. I own a 1991 Z28 Camaro with only 16,567 original miles and its a nightmare. I feel like i can't drive it or do anything with it. All it does is sits in the garage. I have owned it since 2001 (about 5 years or so) Tell you the truth, if i ever buy another Fbody or Corvette used, i would want to buy one with some miles on it (in the 30,000-65,000 range) It has miles on it, and won't have to worry about keeping it perfect or having the value go down if it has a paint chip or any of that. My father bought his vette brand spanking new back in 85. He added about 55k miles in the last 20 years. He did drive it, but not to much. 55,000 is right in the middle which i like. He told me if he known i would be obsessed about corvettes he would of kept it in the garage and the only miles on it would be from bringing it back from the dealership 
That would of sucked for me But i can drive the corvette in the summer and dont have to worry about miles/value. Just enjoy the car 
C4s were meant to be driven. Some CF member said, and i totally agree with him. Have fun with it. Life is short.
That would of sucked for me But i can drive the corvette in the summer and dont have to worry about miles/value. Just enjoy the car C4s were meant to be driven. Some CF member said, and i totally agree with him. Have fun with it. Life is short.
Melting Slicks
Joined: Jul 2003
Posts: 2,384
Likes: 124
From: Reno/Sparks Nevada
I sold my '85 C4 coupe with 180,000 miles for $7,000. It was in very nice looking condition both in, out and under the hood. No headers or fancy aftermarket exhaust, engine chrome and stuff. The engine since it's last rebuild had over 120,000 miles on it. All major components have been replaced or rebuilt at least once on the car. The paint had some chips, the door panels were separating just a little. What sold the car was that it was a very nice and clean looking driver. Torch red paint was glossy, interior was very clean with new vinyl 2-tone seat covers and original door panels and carpeting, '90 polished Vet wheels, stock LT1 mufflers. Back in '98 when I painted the car it got all new weatherstrip, mouldings, emblems, rub strips, and spoiler. Everything to make it look new, but that was 7 years ago. The car does show it's 7 year old exterrior. I think what is most important is it's condition, mileage is unimportant if you show you have maintained it. This car just looked and ran good. It could use a new motor in the next year or so. That's why I sold it, I didn't want to drop a few thousand more and having to keep it. I went and bought a C5, and glad I did. I miss the C4 though, it was/is a nice car.
Art
Art
Le Mans Master
Joined: Aug 2004
Posts: 6,479
Likes: 0
From: Ponte Vedra
Originally Posted by xlr8nflorida
Not true and a myth, one of my Vettes has always been under 20k and with no leaks. It never did more then 2,000 miles a year in its life.
Mileage is critical in the price of a Vette. Always buy the lowest mileage Vette (that has been maintained)
Obviously, it does not make sense to pay a premium for a Vette with a few hundred miles if you are just going to drive the doors off of it. Or it might make sense if you like older cars that look new, just keep in mind it is going cost you in the wallet.
Personally, I like to buy Vettes in the 30-40,000 mileage range. You can get a car that is in almost new shape but most times it has depreciated 50%
It really comes down to each car though. I've seen some people drive their cars so hard that after 40k miles they are pretty beat up both mechanically and cosmetically. I've seen other cars with 100k miles that look great costmetically but parts start to wear out such as alternators, water pumps, belts, hoses etc etc
A car has a useful life and although we know Vettes can go 200,000 miles+ Most people judge the car on 0 - 100,000 miles.
Most people don't like to drive a car with more miles then that because they feel they can run into big expenses (which is true)
Mileage is critical in the price of a Vette. Always buy the lowest mileage Vette (that has been maintained)
Obviously, it does not make sense to pay a premium for a Vette with a few hundred miles if you are just going to drive the doors off of it. Or it might make sense if you like older cars that look new, just keep in mind it is going cost you in the wallet.
Personally, I like to buy Vettes in the 30-40,000 mileage range. You can get a car that is in almost new shape but most times it has depreciated 50%
It really comes down to each car though. I've seen some people drive their cars so hard that after 40k miles they are pretty beat up both mechanically and cosmetically. I've seen other cars with 100k miles that look great costmetically but parts start to wear out such as alternators, water pumps, belts, hoses etc etc
A car has a useful life and although we know Vettes can go 200,000 miles+ Most people judge the car on 0 - 100,000 miles.
Most people don't like to drive a car with more miles then that because they feel they can run into big expenses (which is true)
Race Director
Joined: Oct 2001
Posts: 19,653
Likes: 428
From: Melbourne Florida
Cruise-In IV Veteran
I was watching the Barret-Jackson auction last night and this topic came up...
The short version is if you buy a garage queen, keep it as such and don't try to make a driver out of it or you'll be in for a nightmare...
The answer lies in how you plan to use the car...if you are going to drive it get one with some miles on it, as stated above..
Quick story...a friend of mine bought a C5 Lingenfelter twin turbo...very low miles, a garage queen to be sure... things started breaking within a month of him driving it and after throwing a bunch of money at it, the car sits in his garage broken and has for 2 years now..this car has killed all his vette enthusiasm...very sad...
The short version is if you buy a garage queen, keep it as such and don't try to make a driver out of it or you'll be in for a nightmare...
The answer lies in how you plan to use the car...if you are going to drive it get one with some miles on it, as stated above..
Quick story...a friend of mine bought a C5 Lingenfelter twin turbo...very low miles, a garage queen to be sure... things started breaking within a month of him driving it and after throwing a bunch of money at it, the car sits in his garage broken and has for 2 years now..this car has killed all his vette enthusiasm...very sad...
Team Owner
Joined: Sep 2002
Posts: 22,209
Likes: 12
From: OBAMA IS HITLER
Fuzzy, that sure is a sad story.
When initially purchasing a car meant to drive, too many miles turns me off (say, 100,000+) because you're definitely into the 1rst and most expensive full maintenence cycle. Without records, don't believe for a second that a previous owner did much of anything for it. And on the other hand, one with too low mileage scares me 2x as bad. No way will I buy a garage queen with my hard earned money only to turn around and dump even more money into the premium already paid on the car. I hate the concept of a garage queen to begin with. No drive = no fun = ripping one's self off.
Thats one reason I was happy to drive 5 hrs. one way to purchase my current '90 daily driver.......2 1/2 years ago when I bought it, it had 62,000 mi. on the clock, and today it just hit the 74,000 mark.
When initially purchasing a car meant to drive, too many miles turns me off (say, 100,000+) because you're definitely into the 1rst and most expensive full maintenence cycle. Without records, don't believe for a second that a previous owner did much of anything for it. And on the other hand, one with too low mileage scares me 2x as bad. No way will I buy a garage queen with my hard earned money only to turn around and dump even more money into the premium already paid on the car. I hate the concept of a garage queen to begin with. No drive = no fun = ripping one's self off.
Thats one reason I was happy to drive 5 hrs. one way to purchase my current '90 daily driver.......2 1/2 years ago when I bought it, it had 62,000 mi. on the clock, and today it just hit the 74,000 mark.
Race Director
Joined: May 2002
Posts: 10,306
Likes: 15
The short version is if you buy a garage queen, keep it as such and don't try to make a driver out of it or you'll be in for a nightmare...
This is not accurate. A well maintained car is not a nightmare.
I have a driver and the Z does shows and a few cruises so bascially a thousand or so miles a year. I have had no problems with it in 3+ years other then an alternator.
I guess the alternator went because I didn't use it huh?
I bet next time I fire it up, it springs a leak too
This is not accurate. A well maintained car is not a nightmare.
I have a driver and the Z does shows and a few cruises so bascially a thousand or so miles a year. I have had no problems with it in 3+ years other then an alternator.
I guess the alternator went because I didn't use it huh?
I bet next time I fire it up, it springs a leak too
Team Owner
Joined: Jun 2005
Posts: 46,295
Likes: 2,596
From: Northern, VA
St. Jude Donor '15
"In honor of jpee"
Originally Posted by xlr8nflorida
The short version is if you buy a garage queen, keep it as such and don't try to make a driver out of it or you'll be in for a nightmare...
This is not accurate. A well maintained car is not a nightmare.
I have a driver and the Z does shows and a few cruises so bascially a thousand or so miles a year. I have had no problems with it in 3+ years other then an alternator.
I guess the alternator went because I didn't use it huh?
I bet next time I fire it up, it springs a leak too
This is not accurate. A well maintained car is not a nightmare.
I have a driver and the Z does shows and a few cruises so bascially a thousand or so miles a year. I have had no problems with it in 3+ years other then an alternator.
I guess the alternator went because I didn't use it huh?
I bet next time I fire it up, it springs a leak too
