How do miles affect price?

[monteperformanc]

All else being equal, how much does a GN's value change if you compare say a 30,000 mile car to a 60,000 mile car, to a 90,000 mile car, etc? I'm talking nice cars in the same condition. Any ideas?

 

[theCATman]

Assuming they are in equal condition with the only difference being mileage, price shouldn't vary that much. Maybe $1,000-$1,500 ??

I find it very hard to believe a 90K mile & a 30K mile car being in equal condition, unless the 90K owner was VERY particular, which I guess is possible.

Then again, there are some 30K mile cars out there that were neglected & are in worse shape than a 90K mile car that was babied.

 

[novaderrik]

if a 90k mile car looks too nice for 90k miles, then maybe the odometer is messed up.
i know of an 87 GN that is like that- when it flips 10 miles, it sometimes flips the 100 mile digit, too. i saw it first hand a few weeks ago- the headliner on my boss's GN was sagging, so he got a new one and i installed it for him. when we finished putting the interior back together, he took me for a ride. when the mile digit flipped from "9" to "0", it not only flipped the "10's" digit to 5, but also flipped the "100's" digit, as well.
he said it doesn't do it all the time- just kind of randomly. he claims maybe 35,000 miles on the car, but it reads closer to 80k miles. but it sure looks like a 35k mile car.

 

[gmpower]

I think it really depends on other what group the car is being marketed to. On forums such as this one, mileage does not affect the price too much because many of us care more about the condition and maintenance than the actual miles, since many of us intend to drive our cars.
On sites like Barett Jackson and Ebay, there are a more weenies with deep pockets that just buy them to add to their collection, and mileage is usually the first thing they look at because they dont know enough about these cars or maybe not much about cars in general to factor other things in besides mileage.

 

[novaderrik]

I think it really depends on other what group the car is being marketed to. On forums such as this one, mileage does not affect the price too much because many of us care more about the condition and maintenance than the actual miles, since many of us intend to drive our cars.
On sites like Barett Jackson and Ebay, there are a more weenies with deep pockets that just buy them to add to their collection, and mileage is usually the first thing they look at because they dont know enough about these cars or maybe not much about cars in general to factor other things in besides mileage.

low mileage is just another thing to brag about- look at some of the GNX owners that have cars that only have a few hundred or a few thousand miles on them. just the thought of actually enjoying their car and lowering the value of their investment causes them to wake up in a cold sweat in the middle of the night. tell them about a GNX that has over 100k miles or- gasp- gets driven to a mall every day (probably in the rain sometimes- the horror!!!) makes them physically angry.

 

[monteperformanc]

I've been looking at GN's for sale and I came across 3, almost equal in condition, but the 64,000 mile car is being listed for $13,000, and the 90,000 mile car is being listed for $9,500. I also saw one with 30,000 miles with lots of problems being listed for $16,000. I'm tempted to just by a 90,000 mile car and have more money to put into it, but I was just concerned that it is not as desireable based on these asking prices.

 

[Smokin-6]

If 2 really nice GN's were side by side and one had 30,000 miles and the other 70,000 but both were priced at 13,000 dollars, would you take the one with 70,000 miles? Hell no, milage to me makes a diiference unless there are no GN's around and you have no choice. I would like to own a GN by the way!

 

[faster]

I know it effects people when they ask me how much for my T and I tell them $15K. Then they ask how many miles and I say 150K on the body but the whole drivetrain, brake system and suspension are new. Doesn't matter to them, even though it is a garage queen compleltely rust free southern matching number car that has never been north of Atlanta and never been hit.

I then tell them go price a completely rust free T as nice as mine!

Yea, there are exceptions I bought a 23K showroom T for $4500.00 from a pawn shop but deals like that don't come along very often. The reality is you have to think about what it will cost to restore an iffy car versus just buying rust free car that does not need the cosmetic and interior work to make it really nice. Paying more for the great car is cheaper in the long run and mileage is subjective depending on how the car was taken care of and how it was driven.

Mikey

 

[turbojay]

My GN has 130k and anyone that looks at it thinks it's got only 30k on it. It's got new paint job, suspension, body bushings, tie rods, roller cam, lifters, rollers, etc...Mileage is important to a point but if the car has a lot of new parts and looks/drives good, mileage is not that important.

I would hate to own a low mileage GN/GNX, I love my GN too much to just leave it in the garage...I want to drive it all the time.