How to Sell a Car With Over 200k Miles?

How to Sell a Car with Over 200k Miles?

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Selling Car Privately

Selling privately usually takes 52 days on average, demands more effort and carries higher risks. Hovewer this approach often results in a higher selling price.

• CarGurus – listing price is $4.99
• Autotrader – listing price is $49
• Ebay – listing price varies from $19 to $79
• Craigslist – listing price is $5
• Facebook Marketplace – listing is free

Selling Car Online

Online car-buying companies offer fast, secure methods for selling your high-mileage car. They cater to a wide range of vehicles, including used, damaged, or non-running cars.

The process can be as quick as 48 hours, and these services typically handle all paperwork and offer a free car pickup.

• Peddle – no fees, instant cash offer
• Wheelzy – no fees, cash offer winin few minutes
• CarBrain – no fees, quick cash offer

Related: 12 Companies that Pay Cash for Cars

How to Price a High-Mileage Car?

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The price of a high-mileage car will vary depending on a number of factors, including the make and model of the car, the condition of the car, and the current market conditions.

However, a few general tips can help you price your car fairly:

1. Get an estimate of your car’s value. Check Kelley Blue Book car’s valuation tool. It will give you an idea of the fair market value of your car.
2. Take high mileage into account. The amount of depreciation will vary depending on the make and model of the car, but it’s typically around 10% per 100,000 miles.
3. Consider current market conditions. If the market for high-mileage cars is weak, you may need to lower your price to attract buyers.

Be willing to lower and negotiate the price. The longer it takes for you to sell a car, the more your car value depreciates and it might be harder to find a buyer.

Take your time into account as well, and consider if it is worth waiting and keeping the car instead of selling and allocating the money to your needs right away.

Related: How to Price Your Car?

How to Prepare a High-Mileage Car for Sale?

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Prioritize Maintenance and Essential Repairs

Cars with over 200k miles need more looking after. Changing parts like belts makes buyers more interested. Quick repairs boost the car’s value. Also, topping up fluids, checking the AC, and switching out the battery and tires helps your car attract buyers.

Thorough Cleaning: Inside and Out

To sell a used car, cleaning it well is important, especially if it’s an older car. Cleaning inside areas like the carpets can make your car worth $500-$1,000 more. Fix the seats if they look bad, but only change them if they’re really damaged. On the outside, take off stickers to keep the car looking like it did when new.

Get a Pre-Sale Inspection

Before selling a car with a lot of miles, get it checked by a mechanic. This helps you know the car’s real condition and can make buyers trust you more. Usually, these checks cost between $100 and $200. But spending up to $250 for a detailed look can be worth it to make buyers feel more sure about buying.

Take Good Photos to Attract Buyers

Photos of your vehicle make a first impression and might attract or repel potential buyers. It is important to be honed and provide accurate information about your vehicle and its condition.

Here are some tips on how to take good photos:

• Natural light – it is best to shoot outside, in an open space with lots of natural daylight. Avoid direct sunlight or choose a lightly cloudy day to avoid glare and better showcase the car’s details.
• Clean car – wash your car’s exterior and clean the interior. Clean surfaces will show that you care for your vehicle and attract more interested buyers.
• Multiple angles – it is important to show your car from all angles.  Take photos of your car’s front, back, sides, top, and interior, including the dashboard, seats, and cargo area.
• Zoom on details – if your car has unique features or damage, zoom in on them so buyers can get a closer look. For example, if your vehicle has a sunroof, advanced sound system or any scratches on surfaces or other damage, show it. Otherwise, at the time of the meeting or test drive, the buyer can get disappointed and turn down the offer.
• High quality – make sure your camera lenses are clean and use high-quality settings. Blurred, pixelated photos usually repel viewers and might indicate poor care of the vehicle.

Should You Sell High-Mileage Car for Parts?

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Whether or not you should sell a high-mileage car for parts depends on your experience and knowledge of dismantling the car and selling car parts.

The process of dismantling a vehicle can take 15-25 hours if you are competent. Further process of assessing parts, listing them for sale, and handling inquiries and transactions will also take additional time.

Moreover, doing it without any experience will result in extra hours and potential safety hazards.

Not all parts sell quickly, and you will need extra storage space to keep the parts.

How long it can take:

• Disassembling the car: 20-40 hours
• Cleaning and inspecting the parts: 10-20 hours
• Listing the parts for sale: 5-10 hours

If your car has non-repairable damages or repairs are too expensive and exceed the value of the car it would be better to sell the car to Peddle, Wheelzy or CarBrain. It will only take a few minutes, and you avoid the hassle of selling individual parts and potentially low returns.

Related: 17 Online Car Buying Sites

Why is it Difficult to Sell a Car With Over 200k Miles?

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Many buyers perceive high-mileage vehicles as less reliable or nearing the end of their lifespan. This is because, as a vehicle accumulates miles, the likelihood of parts failure or needed repairs increases.

The main reasons why it can be difficult to sell high-mileage cars:

• Possible repairs – buyers might be concerned that a car with over 200k miles will have frequent and expensive repairs.
• Safety concerns – cars with high mileage can have hidden maintenance issues, making them more prone to malfunction while in use, which can lead to potentially dangerous situations on public roads.
• Low resale value – the car’s value decreases with its mileage, so buyers won’t be able to resell it afterward, making it less appealing for investment.
• Financing – it’s usually harder to get financing for high-mileage vehicles. Many banks and credit unions have restrictions on the age and mileage of cars for which they’re willing to provide loans.
• Car’s age – the older the vehicle, the more scratches and visible wear off it has, which makes it less appealing for buyers.
• Lack of newer technology – older cars may not have the same features as newer cars, such as automatic windows or heated seats. This can also make the car less appealing to buyers.

Related: What is The Best Mileage to Sell a Car

Who Are the Potential Buyers of a High-Mileage Car?

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Although high mileage can reduce the pool of buyers, there are still people who are interested in buying high-mileage cars. The type of buyers depends on income level and reason for buying a car.

• Low-income buyer – your potential buyer might be a low-income family that needs a second car or can not afford a newer vehicle for their daily needs.
• Need for reliable vehicle – if well maintained, some vehicles can be driven for way more than 2,000 miles. Buyers can overlook the mileage if the car’s make or model is known for its durability.
• Need for temporary car – some buyers only need a car for short periods of time. Also, it can be a purchase for a new and inexperienced driver.
• Reselling – some buyers can fix the car and try to resell it or, if they have experience, even dismantle it and sell individual parts.
• Mechanics or DIY buyers – the car or its parts might be used as a base for some DIY projects.

Things To Do After Selling High-Mileage Car

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After you’ve successfully sold your high-mileage car, there are several steps to complete the transaction smoothly and legally:

• Complete paperwork: make sure the title transfer is adequately executed and filed. This typically involves signing and dating the title and providing it to the buyer. Remember to keep a copy for your records.
• Bill of Sale: prepare a bill of sale that includes the car’s make, model, and VIN, the sale price, and the names and addresses of both buyer and seller. This serves as legal proof of the transaction.
• Remove license plates: in some states, like Oregon, Arizona, Alabama and others, you should remove your license plates after selling the car.
• Notify the insurance company: contact your insurance company to cancel or adjust your auto insurance policy. If you have another vehicle, you may be able to apply any remaining coverage or pre-paid premiums to that vehicle.
• Sign Release of Liability form: it is required to fill this form at the DMV because it protects you from any future liability involving the vehicle.
• Cancel your roadside assistance program: if you have a roadside assistance program specifically for the car you sold, remember to cancel it.

Best Cars for High-Mileage

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It can be challenging to ascertain a vehicle’s durability or maintenance ease, but reliability and maintenance costs are vital for cars that drive beyond 250,000 miles.

When selling a car with a reputation for reliability and longevity, you will likely get a better offer and complete the sale in a shorter time.

Based on the car’s reliability ratings, owners’ experiences, and iSeeCars, CarEdge, and RepairPal data, Hotcars.com has listed the best cars for exceeding the 300,000-mile threshold and continuing running.

Some of the best cars for high mileage:

• The 2021 Honda Civic – has an average service life of 300,000 miles. Repairs and maintenance will cost an average of $5,245 over ten years.
• The 2021 Toyota Land Cruiser – has an average service life of 250,000 miles. Repairs and maintenance will cost an average of $6,782 over ten years.
• The 2021 Nissan Altima – has an average service life of 250,000 to 300,000 miles. Repairs and maintenance will cost an average of $5,561 over ten years.
• The 2018 Toyota Highlander – has an average service life of 300,000 miles. Repairs and maintenance will cost an average of $5,771 over ten years.

Is it Worth Fixing a Car with 200k Miles?

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Deciding whether to fix a car with 200k miles or sell it involves assessing multiple variables. Here are a few key considerations:

1. Car Make and Model: Some vehicles, like the Toyota Corolla, are celebrated for their longevity. If your car belongs to a brand known for reliability, it might merit repair even with its high mileage.
2. Car’s Condition: The current condition of your car is crucial. A well-maintained, good-conditioned vehicle might be worth investing in repairs. In contrast, a poorly maintained or damaged vehicle might not be.
3. Repair Costs: The anticipated repair expenses play a significant role. High-cost repairs might make selling the car a more feasible option. For instance, selling could be the better choice if the car requires a new engine.
4. Personal Circumstances: Your personal needs also matter. If a car is essential for your daily activities, you might prefer to repair it. Conversely, if you can manage without a car, selling it and utilizing the money for a new purchase might be a better plan.
5. Resale Value: The car’s potential resale value should also be factored in if you intend to sell it. For example, if the car’s worth is merely $1,000, repairing it might not be financially sensible.

Choosing to repair or sell a car with 200k miles is subjective. Consider all the pros and cons before making the final call.

If you opt for repair, remember to:

• Obtain a quote from a mechanic for an estimated repair cost.
• Compare prices from various mechanics to ensure you get the best deal.
• Insist on quality repairs to ensure the car’s longevity.
• Keep up with the car’s maintenance once repairs are completed. Regular servicing, oil changes, and filter replacements are critical.

Related: 6 Places to Sell Car Parts

Can I Trade in a Car with Over 200k Miles?

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Trading in a car with over 200k miles is entirely possible, but you should be aware that the offered value might not be as high as you’d hoped. Cars are known to be depreciating assets, meaning they lose value over time, and this depreciation accelerates with increased age and mileage.

The trade-in value is influenced by various factors, such as the car’s make and model, its condition, and the prevailing market rates for similar vehicles.

If your car is a well-regarded make and model renowned for its longevity, you might get a better trade-in deal than with a less popular or durable model.

If you’re pondering trading in a high-mileage car, it’s crucial to seek an estimate from a dealer first. This will provide an idea of the dealer’s proposed offer for your trade-in.

Related: Is it Better to Trade in or Sell? Ultimate Guide

What Paperwork Do I Need to Sell High-Mileage Car?

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List of Required paperwork varies by state, but to sell a car and legally transfer the ownership, you will need to provide your ID and Certificate of Title. This is the most important document proving your ownership.

Some states require additional documents such as valid registration tags, the bill of sale or emissions test certificates.

Status	Document:	Document:	Document:
Required in All States	Certificate of Title	Odometer Reading	Release Of Liability
Required in Some States	Bill of Sale	Registration Tag	Emissions Test
Optional Paperwork	Vin Check	Service Records	Owner’s Manual

The Most Common Problems With High-Mileage Cars

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High-mileage cars often encounter these common problems:

Engine troubles:

• Oil leaks, causing potential overheating.
• Wear off belts and hoses needing replacements.
• Blocked oil filters, restricting oil flow.
• Engine misfires, often due to faulty spark plugs or timing belts.

Transmission issues:

• Fluid leaks, causing the transmission to overheat.
• Worn-out gears needing replacements.
• Slipping gears due to low transmission fluid or a malfunctioning module.

Suspension issues:

• Worn-out shocks and struts that cause a rough ride.
• Worn-out springs, causing the car to ride lower.
• Loose or damaged ball joints, leading to wheel misalignment.

Brake issues:

• Worn-out brake pads that need replacements.
• Worn-out rotors needing replacements.
• Air in brake lines, causing spongy or unresponsive brakes.

Regular mechanical inspections are key for early identification and prevention of these issues.

How Many Miles Do Cars Last?

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The lifespan of a car, typically around 200k miles, can vary greatly based on factors such as the car’s make and model, maintenance regimen, and the driving conditions experienced.

Certain car models, like Toyota Corollas and Honda Civics, are renowned for their durability and can comfortably surpass 200k miles with diligent upkeep. Conversely, cars might start showing significant wear and tear as early as 150,000 miles.

Key factors affecting a car’s lifespan include:

• Make and model: Certain cars are inherently more reliable and durable.
• Maintenance: Consistent servicing according to manufacturer guidelines and promptly resolving any issues is crucial.
• Driving conditions: Cars subjected to harsh environments may not last as long as those in milder climates.

Regular check-ups by a qualified mechanic can help identify potential issues early, preventing them from escalating.

To prolong your car’s lifespan:

• Regularly change oil and filters to ensure smooth operation.
• Follow the manufacturer’s servicing schedule to maintain all car components.
• Address mechanical issues promptly to prevent further damage.
• Adopt gentle driving habits, avoiding harsh acceleration, braking, and overloading.
• Store the car in a cool, dry location to minimize exposure to harsh elements.

What is the Best Time of Year to Sell a Car?

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Spring and fall often emerge as the prime seasons to sell a car, largely due to the higher demand during these periods as people seek to purchase vehicles for the new driving season.

Here’s a seasonal guide based on data from Kelley Blue Book:

• Spring (March-May): Considered the optimal time to sell a car, spring sees many potential buyers seeking a vehicle for the upcoming driving season.
• Fall (September-November): Ranking second, fall witnesses heightened demand as people look to secure a car for the winter season.
• Summer: Generally a slower period for car sales, summer often sees people vacationing and less inclined towards car purchases.
• Winter: Another relatively slow period, winter usually sees people stay indoors more, reducing interest in car buying.

However, remember that the ideal time to sell your car may vary based on the type of car and current market conditions.