High mileage = hard to re-sell?

Been trying to calculate the best combination of age and miles that would give me minimum depreciation, as well as minimal repairs. However, since I have automotive ADD, I'll probably want to sell it in a couple years, and don't want to not be able to sell because of mileage.

Fortunately, I drive 12-14k a year.

For example - I really want a Mazda3 hatch:

http://atlanta.craigslist.org/atl/cto/4416976000.html

or should I pay a little more for lower miles?

http://oklahomacity.craigslist.org/cto/4425483813.html

http://orlando.craigslist.org/cto/4397768370.html

http://dallas.craigslist.org/dal/cto/4404093357.html

http://oklahomacity.craigslist.org/cto/4441664159.html

etc, etc...

Maybe for 125k and under do I think their worth much more. Any higher than that and it just doesn't matter enough to me. I usually buy high mileage for real cheap expecting to fix it, though.

In my mind, there is a point somewhere between 100k and 200k miles where a vehicle starts to get "clapped out." A well-kept car can look very nice, almost new even, with 100k on the clock. By the time 200k rolls around, the car will have cosmetic issues, significant wear on the interior, various knocks and rattles, diminished performance, fluid leaks, worn suspension, etc. etc. Some of these issues can be fixed for a reasonable cost. Others not so much.

I will pay more for a lower-mileage vehicle, but I am a pampered sort of guy, and I am accustomed to nice things.

If I was considering a Mazda3 hatch with an automatic, I'd go with one of the cars that had a 5 speed auto transmission instead of the 4 speed in the earlier years. I think 2006 was the switchover to the 5 speed auto.

I think general condition becomes more important than mileage once you get around 100,000. I have bought cars with over 200,000 that were far better than the same model with close to 100,000. Most of the difference is probably just how well the car had been cared for. This can be hard to tell from pictures. It usually requires in person inspection and driving.

There was a study that shows there are step changes in price at some round numbers. For example a car with 98,000 miles sells for more than a car with 100,000, but the difference is negligible between something like 100,000 and 102,000.

+1 on condition over mileage; for me the cutoff is around 50,000 miles. Anything past that I'm more interested in condition and records. My montero (bought with 210k miles) is in WAY better condition than my miata and truck (bought at 150k and 100k respectively). The guy had receipts for all 60k mile services at the dealer (holy $5k water pump/timing belt/labor batman!) and other assorted receipts.

On the flip side, it was listed on craigslist for 3 months at a fairly low price but no one else bought it because of the high miles. When the price got low enough to be worth it to me, I went to look and immediately bought it. So as a seller, high mileage is a harder sell unless you have records and find the right person, and even then you're probably going to have to price it lower/wait longer to sell.

Regardless of whether mileage or condition matters more out here in real life, mileage does matter to the average joes that are coming to look at your car when you plan to sell it.

I've sold close to death low mileage beaters quickly and had great high milers sit forever.

Yeah, mileage is big to the non car hobie folks. So so so pissed at a friend who just traded in a 98 GS-R with 160k on it for $1300 towards a new civic si as it was "getting up there and needed a timing belt they said" and "time for something new as I've had this too long". It was in good shape though last time I road with him and of course I hear about it when he drives up in the new civic.

That's the sweet spot for me, something that's at about 150k with one or two owners is past the point where a lot of defects would have killed it or at least be noticeable if it was mistreated. If you buy right you can drive it till a bit before 200k for almost free.

In reply to johndej:

I can't understant why people don't get that a timing belt is maintenance and not a repair. It only becomes a repair when you don't do the maintenance.

Right, even though WE may know that high miles is less telling than condition, the average Joe will not. Sounds like I need to look for just over 100k, then drive for 20-30k or so, and re-sell.

High miles might mean clapped out, or, that the owner took care of it well enough to reach those high miles. I'd rather have my 440,000mi 4Runner, than a 100,000mi BMW with deferred maintenance.

What do you think of this theory? A car with 90,000 miles is worse than one with 125,000. The reason? At 90,000 miles, it is approaching the point where it needs some major service, and the owner has decided to sell it. At 125,000, that work has already been done (but the owner is tired of it or is tired of putting money into it) and wants to sell.

No evidence to back this up, but it occurred to me over some Sailor Jerry that it was possible. (As I search for a Mini Cooper S in my price range)

pinchvalve wrote: What do you think of this theory? A car with 90,000 miles is worse than one with 125,000. The reason? At 90,000 miles, it is approaching the point where it needs some major service, and the owner has decided to sell it. At 125,000, that work has already been done (but the owner is tired of it or is tired of putting money into it) and wants to sell. No evidence to back this up, but it occurred to me over some Sailor Jerry that it was possible. (As I search for a Mini Cooper S in my price range)

I've thought of this also. If an E36 M3 has made it a certain amount of miles, there's a good chance that the major service has been done, for example.