cost of mileage in depreciation

[flat6buster]

Can the collective give me an indication of the effect of adding miles to our E320CDI in tgerms of its value?

I have a fair bit of travelling to do for a work project in the next few months and it got me wondering about the cost of this in relation to depreciation on the car.

It is a 2006 S211 320cdi currently on 55000 miles. What would, say, an extra 15000 miles in a short space of time do to the value?

 

[s88]

nowt

 

[LTD]

At 6 years you would expect 12k miles per year anyway.

Do what the car does best - drive it !

 

[W2--]

Not a lot I will say. Maybe a 2-5 hundreds pounds.

The fact is your car still get some way to depreciate, so mileage won't affect too much, well unless you've got mega mileage on it.

 

[hawk20]

If you go to the What Car website they have a section ion valuations. Put the car in with 55k and then do again with an extra 15k miles and see the effect on value.

Typically extra miles knock off a few pence per mile -around 5-7p on many cars. So an extra 15k miles would only knock the part ex price by £750-£1000.

 

[flat6buster]

If you go to the What Car website they have a section ion valuations. Put the car in with 55k and then do again with an extra 15k miles and see the effect on value.

Typically extra miles knock off a few pence per mile -around 5-7p on many cars. So an extra 15k miles would only knock the part ex price by £750-£1000.

Thank you. If the project goes on longer than anticipated then i need to work out when i am best off chopping it in for a new one. I would probably lease if it went on for long so all costs are controlled.

Sent from my Galaxy Note using MBClub UK

 

[PXW]

Thank you. If the project goes on longer than anticipated then i need to work out when i am best off chopping it in for a new one. I would probably lease if it went on for long so all costs are controlled.

Sent from my Galaxy Note using MBClub UK

'tis a difficult calculation. If your car is worth say £10k (no idea whether it is, just for argument's sake), and you buy a new 212, then how long will it take for the new car to lose £10k? A year? Yet your current car is very low mileage, and with good care easily capable of 150-200k miles...OK, at the end of that it's worthless, but that's still far cheaper than swapping it. Leasing confuses the picture, because the depreciation cost is wrapped up in the monthlies, but the underlying economics ar the same.

If you had a vehicle that couldn't take the mileage it might be different...but the place I've come to is that my point of change is when the car becomes unreliable - I do need to know it will start in the morning. Until that point my cost per mile just keeps dropping, as depreciation falls away...

 

[Deleted member 65149]

Typically extra miles knock off a few pence per mile -around 5-7p on many cars. So an extra 15k miles would only knock the part ex price by £750-£1000.

I really don't think it would make that much difference on a 6 year old car. The condition of the car is more important. I would have put the extra 15k miles on its own at a real value of no more than £200 in this instance.

 

[hawk20]

I agree the older the car the less the effect as there is less of a value to be affected. Figure I gave is used for 3-5 year old cars. Maybe a bit older some.

 

[SilverSaloon]

i suspect it will only effect it in terms of attractiveness to a buyer if it makes it roll over a figure some people shy away from (for some weired reason) 100,000 etc when you come to sell it. otherwise it wont make any difference in reality.