Low miles
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Instructor
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From: Surrey B.C.
Low miles
Did a fair amount of research before buying my car and wondering about the low miles dilema. Seen alot of cars claiming low miles, which can be the sellers perspective, but, what would be considered low miles and how would you determine the value? Then comes the other concern, do you drive this low mileage car? My 02 convertible, that I just aquired, is in this position with less then 7100 miles on it.
Le Mans Master
Joined: Jul 2009
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From: Los Angeles California
Honestly, low miles doesn't always mean better shape. Some people think that a lower miles car is going to last longer, but in reality it may not have been serviced enough between the years. 7100 miles means that in 8 years it may have only gone through 1 oil change (maybe two if you count the break-in period). Oil shouldn't stay in a car longer than a year for the most part. If the car has all the records to show that it's had at least 7 oil changes, I'd say it's probably well taken care of.
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I bought my '03 last September with 8500 miles on it. I considered that a very low mileage car. IMO, anything under say 5K miles per year is a low mileage car. Some people probably have a lower threshhold for the mileage. I put about 12-13K miles per year on my DD.
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From: Foxtrot Delta Tango
Did a fair amount of research before buying my car and wondering about the low miles dilema. Seen alot of cars claiming low miles, which can be the sellers perspective, but, what would be considered low miles and how would you determine the value? Then comes the other concern, do you drive this low mileage car? My 02 convertible, that I just aquired, is in this position with less then 7100 miles on it.
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From: Belleville Il
!!The made a lot of C5's,,going to take a long time to attain collector status,,,not for me!!
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I bought my 04 3 years ago with 8900 on it. I don't drive it everyday, but have made a few trips in it, currently has 24k on it. Still averages out to less than 4k a year. Not really trying to keep it low, it's just not my DD.
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Thread Starter
Instructor
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From: Surrey B.C.
Thanks for the input. I never really thought about the oil change issue and being a jet mechanic you would think I would know better. I plan on driving it but not as a dd. I looked/saw lots of what I thought were high mileage cars, 70,000+ miles and was looking for one under 50,000 so was happy to get one at 7,100. Up here in the frozen north, the high mileage cars are worth more then the low mileage ones south of the border...go figure.
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From: Santa Rosa Beach FL
Did a fair amount of research before buying my car and wondering about the low miles dilemma. Seen a lot of cars claiming low miles, which can be the sellers perspective, but, what would be considered low miles and how would you determine the value? Then comes the other concern, do you drive this low mileage car? My 02 convertible, that I just acquired, is in this position with less then 7100 miles on it.
But if one need guidance and doesn't follow the trends, Kelley Blue Book (KBB) comes closest to listing true value. Just don't neglect to separate private party value from dealer retail value. Some say Edmunds, which is lower than KBB in cases, is the real world pricing. The National Automobile Dealers Association (NADA), on the other hand, has always been way high and unrealistic. How is that? The NADA is an Association supported by dealers who have every incentive to price vehicles higher. NADA represents the interests of car dealers, not car buyers. Tell me, do you trust a used car dealer let alone an 'Association' of them?
6 pages of low-mile discussion:
http://forums.corvetteforum.com/show....php?t=2377633
Last edited by cor28vettes; May 22, 2010 at 12:37 PM. Reason: 6 pages
Burning Brakes
Joined: Apr 2005
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From: Florida
I don't drive any of my cars often. I live 1.5 blocks from my kid's school and 2 miles from work. None of my cars get more that 3,000 miles per year. My family bikes or walks everywhere.
That being said, I change the oil in each of my cars on a yearly basis no matter how many miles I put on them. Also, when I track my car I change the oil. My 2004 Z has 6280 miles and has had the oil changed 7-8 times. Every time I change the oil I put on a new filter.
For a sports car to be considered "low miles" I would say no more than 5,000 per year, but, more likely less than 3,000 year.
That being said, I change the oil in each of my cars on a yearly basis no matter how many miles I put on them. Also, when I track my car I change the oil. My 2004 Z has 6280 miles and has had the oil changed 7-8 times. Every time I change the oil I put on a new filter.
For a sports car to be considered "low miles" I would say no more than 5,000 per year, but, more likely less than 3,000 year.
Instructor
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From: Long Island/Pompano Beach
I bught my 03 with 7k on it in October of 09 and I currently have over 10k on it. In the winter I didn't drive it for 2 months.
I drive the car. What I found is that when I first started driving it, there were little things that had to be taken care of because the car was sitting so much. ie an annoying check engine light that was related to a valve.
I look at it this way, I bought it to drive it and I have a 7 year head start in mileage.
my .02
I drive the car. What I found is that when I first started driving it, there were little things that had to be taken care of because the car was sitting so much. ie an annoying check engine light that was related to a valve.
I look at it this way, I bought it to drive it and I have a 7 year head start in mileage.
my .02
Le Mans Master
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From: Los Angeles California
My 03 had 20,000 miles on it when I bought it in April. That means there's an average of 2500 miles a year on it. To me that means I have a chore of getting its average back up to 10K miles a year!
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From: Silver City New Mexico
In April I bought a 2003 Anniversary Edition with 12,000 miles. CarFax showed the car had been well cared for. I am the fourth owner. I intend to drive the car for trips and touring as much as I can. I'm 66 and want to enjoy it while I can. I don't have the time available to look at this as an investment; other than an "investment" in fun. 
Only you can answer the question, "Why did you buy this car and what do you intend to do with it?" The answer may help you decide how important the mileage is.
Only you can answer the question, "Why did you buy this car and what do you intend to do with it?" The answer may help you decide how important the mileage is.
Le Mans Master
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From: Palm Harbor not far from Sebring Florida
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I don't drive my '01 that often, in fact I have owned it for 4 years, and only put on 9,000 miles. Two reason for the low mileage in the last 4 years. First up until April of '09, the wife and I worked about three blocks apart. No need to drive two cars. When I bought this Vette, it had 25,000 miles on it and was in excellent condition. The main reason we purchased it was for shows and special events and the weekend cruise. I have been retired since last April, so I have only driven it when I need to go somewhere.
As for keeping the mileage low for resale or collectability that is only part true. It does help for resale. I did my car and if it had 105000 miles it would be worth $14,585 private sale and at my 34,000 miles the price increased to &18,310. Granted this is only an example and the prices will vary.
As far as collectable, not happening, at least at this point in time. There was a post on this forum a few weeks ago where an owner of a '03 Anniversary Edition was questioning what his was worth. It was loaded and had 30 miles YES 30 miles. He bought the car 7 years ago, never drove and lost half the value of what he paid for it.
As for keeping the mileage low for resale or collectability that is only part true. It does help for resale. I did my car and if it had 105000 miles it would be worth $14,585 private sale and at my 34,000 miles the price increased to &18,310. Granted this is only an example and the prices will vary.
As far as collectable, not happening, at least at this point in time. There was a post on this forum a few weeks ago where an owner of a '03 Anniversary Edition was questioning what his was worth. It was loaded and had 30 miles YES 30 miles. He bought the car 7 years ago, never drove and lost half the value of what he paid for it.
Burning Brakes
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From: NEWTON NC
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From: Northern Illinois
Oldtimer
My '98 just turned 23,000 miles. When I bought it in 2001, it had 11,000 miles on the odometer. I didn't buy it as an investment or anything else, just to drive on beautiful summer days. I've never driven it in the rain or washed it, and it's become more of a show car than anything. Initially, I was changing the oil before I put it into storage and when I took it out. I only change the oil once a year now, just before I put it away for the winter. Last year I drove a total of 762 miles. I've got quite a bit of money invested in it and have no plans on selling it. If something happens to me #1 son gets it.
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From: Surrey B.C.
Once again, great info and thanks. After reading all the posts and a few other threads, one of the main themes seem to be " why buy it if you are not going to drive it?" So with that in mind, I cleaned up my daily commuter, a 2002 Honda Civic, and put it up for sale this afternoon.
