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Old 04-10-2022, 03:18 PM   #1
ex-boxing champ
 
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Is it true that a car loses some value once it hits 100K miles?

Recently a transmission shop owner and then 2 weeks later a car salesman both told me that once a car hits 100K miles then it loses a good amount of resale value. Is there any truth to this or is this a myth? They told me to sell my car before it hits that mark.
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Old 04-10-2022, 05:57 PM   #2
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Cars lose value for just about everything. You can have a MY22 and as soon as the MY23 comes out, loss in value. It's mostly shopper perception. My SS Sedan lost a little bit of value when I passed 36K miles even though it happened well after the 3 years. I think 36K miles makes some people think that the warranty is over, so that milestone panics some people.

What you have to ask yourself is are you going to keep it well into the 200K range? Do you want to upgrade? If you want to upgrade, I'd keep the miles low for now as trading a vehicle in under 100K vs one over 100K will make a little difference (won't break the bank, but it could mean a couple of thousand).
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Old 04-10-2022, 06:26 PM   #3
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A car or truck loses value as soon as you drive it off the lot and usually equals out the longer you own the vehicle. It’s only worth so much anyway at 100,000 miles or more.
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Old 04-11-2022, 06:19 AM   #4
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Reference your original post:

https://www.camaro6.com/forums/showthread.php?t=603990

Don't take their word for it: keep the car beyond 100,000 miles and see if they're right for yourself.
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Old 04-11-2022, 06:49 AM   #5
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I have never bought a used car with more than 75 K miles and I don't think I ever will.

To your question: Every mile counts when it comes to resale. As the miles pile on the buyer market shrinks. Is 100K a bigger drop point than some other point? I think so. That number brings to mind a car that is ready to start having the need for expensive repairs whether that is true or not.

However, if the car suits you and you like it and it has been well maintained up to that point then don't worry about resale value. Just keep on driving and smiling. Your high mileage car will always be worth more to you than someone else. You know the car - they do not.
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Old 04-11-2022, 07:00 AM   #6
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I understand 100k to be more of a stability in price point. The vehicle likely won't get much cheaper. If your car is still running fine, drive the wheels off it, keep up the maintenance - you know the issues your car has, you don't know the issues the next one has.
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Old 04-11-2022, 11:20 AM   #7
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this is only the 2nd car ive owned with less than 100,000 miles on it.bought it with 7k on it,now at 75k.as long as youre maintaining it and not doing neutral drops 100,000 is just a number.change your trans fluid and filter,check or replace your serpentine belt and flush brake system and antifreeze every 5 years.keep it clean and waxed...you should be good to go.
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Old 04-11-2022, 11:41 AM   #8
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I think the only time there is such a "magic number" for a car is when that number is linked to a major maintenance milestone. And not sure how much this applies to a niche vehicle like the camaro.
My example: years ago Honda recommended timing belt change at 90,000 miles. Anytime you traded an Accord or Civic with more than 90k miles they asked if you had that work done. I had a few of these cars, and always lied when I traded them.
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Old 04-11-2022, 04:05 PM   #9
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If you ever plan to sell your car, then of course less miles is better than more miles. It's not like something instantly blows up on the car when you hit 100,000 miles. It is more so that the general public think's of cars as high mileage once that 6th digit appears. You will certainly be able to sell a 75k mile Camaro for more than say a 100k one, even though they might be in identical condition. However the difference won't be that much, so I wouldn't stress too much keeping the mileage under 100k. You have to keep the miles extremely low if you actually want mileage to make a big difference in the sale price later. And I am talking like sub 25k miles or something before it really adds significant value.
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Old 04-11-2022, 05:22 PM   #10
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Yeah, but if you can hit 1,000,000 miles, I think it gets some of that value back ��.
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Old 04-11-2022, 05:39 PM   #11
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400,000 times down the 1/4 mile dragstrip = 100,000 miles. Play your cards right and make a bunch of money. .
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Old 04-11-2022, 08:45 PM   #12
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I think it depends on the make and platform type. My last daily driver 5.3 liter Tahoe, I bought at 116k and sold last week at 267k. Daily driving a 2022 1SS now. I am not expecting the same out of it, as I don't think they are designed for that sort of lifespan. Sure is more fun though. Got 140k miles out of a 4th gen Z28 without too much drama, so I have good hopes.

I think in warranty and out of warranty would be the biggest price modifiers. From my time working in shops many years ago, I did learn that a bad owner can hurt a car a lot more in 25k miles than a good owner usually does in 100k, though.
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Old 04-27-2022, 02:33 PM   #13
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Totalled my 2016 2ss a couple months ago. Insurance valued me at 28k.. I had 130,000 miles on it.
130,000 smiles ��
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Old 04-27-2022, 02:50 PM   #14
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The simple way to look at it is you have 2 identical Camaros, one has 80K miles, another has 120k miles. Which one is the more attractive buy if they're both the same price?
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