The absolute best age to purchase a second-hand car is when it is between two and three years old. Two-year old cars have a full year left before they will need their first MOT, and are almost guaranteed to be in nearly-new condition, while three year old cars often sail through that first MOT without any issues.
A well-maintained 10-year-old car could possibly be a better investment than a newer model which hasn't been looked after. As a very general rule of thumb, a car is usually reliable up to 5 years providing it has been maintained.
All in all, the best age to buy a used car is around the 5-year mark, as this minimizes depreciation and maximises reliability for the price you'll pay, meaning you're less likely to have any problems or need to pay any more money for later on which is a common problem with really cheap or much older vehicles.
When buying a used car that's 10-years-old or older, your primary concerns are purchase price and reliability. Don't pay more than that 10-year-old car is worth. And, pick a car with a solid reputation for dependability. No car is really too old if you follow those rules.
Used car prices remained strong in 2022 despite the UK experiencing record levels of inflation and falling consumer confidence. According to the latest Used Car Price Index for December 2022, the average asking price of a five-year-old car was up 0.17% on the previous month.
What does 2023 hold? Overall, all the dealers we spoke with were optimistic about used car sales in 2023. In the short term, they all agree that whilst the production and delivery of new cars continues to stall, used car demand and prices should remain strong as motorists search for good quality cars to buy.
Whether you're shopping for a new car or a used one. New car prices are on the rise, breaking records monthly. Used car prices are starting to fall, and our experts tell us that both of those trends could be with us well into 2023.
For many used vehicles you are wanting to look at cars under 200,000 kilometres. However you can find exceptional used cars on the market that have over 200,000 kilometres that is in excellent condition and has at least 5 years of roadworthiness left.
Be Cautious With Anything Older Than 12-15 Years Or 150,000 Miles. Now that we have the variables out of the way, it's time to dive deeper into what “problems” your car can run into as it ages and accumulates miles.
While it's a good idea to consider the age of a vehicle and the number on its odometer, it's more important to look at how well the owner maintained the car. A 10-year-old car with 100,000 miles may have received more TLC than a five-year-old model with 50,000 miles.
As a general guide, the average mileage of a used car is usually considered to be around 9000 to 12,000 miles. Anything that's driven less than this will be seen as 'low mileage'.
New cars are so reliable that, on average, one could be expected to remain trouble free for years at a time. A five-year-old car may encounter a problem every three years. Even 10-year-old cars would only be expected to have a problem every 18 to 20 months on average.
In general, buying a higher mileage newer is better than buying an older car with less miles. The reason for this is simple: parts in a car, especially the rubber components deteriorate over time, regardless of mileage.
Typically, putting 13,000 to 14,000 miles on your car per year is viewed as “average.” A car that is driven more than that is considered high-mileage. With proper maintenance, cars can have a life expectancy of about 200,000 miles.
This is because the majority of depreciation will occur over the first 8-10 years. It's at this point that your car would have dropped in value and is most likely to be the lowest in terms of how much its worth.
The latest NSW research was consistent with national data showing drivers of older cars, made before 2000, were four times more likely to die than those in a new car, said James Goodwin, the chief executive of the independent car safety ratings group ANCAP.
Often, 100,000 miles is considered a cut-off point for used cars because older vehicles often start requiring more expensive and frequent maintenance when mileage exceeds 100,000.
It's always worthwhile to assess the service record of any used car, and if it hasn't been consistent, then it could be cause for trouble. Most cars around the 200,000-kilometre mark and above with a reliable service history should be an excellent purchase if the price is right.
Average age of all vehicles registered in Australia was 10.1 years, unchanged since 2015. Tasmanian vehicles reported the oldest average age at 12.8 years, whilst the Northern Territory and Australian Capital Territory had the youngest fleet with an average age of 9.4 years.
Now Moody's Analytics says prices for used vehicles could fall by 11% or more in 2023 because of interest rates and the higher cost of living. It could be a good time to buy. Luckily, there are just as many benefits from buying new or used cars.
As new-car production improves, demand for used cars will ease up and prices will continue to fall in the new year. The firm estimates that used-car prices will drop 10%-20% in 2023; new cars, on the other hand, are predicted to see a modest decrease of just 2.5%-5%.
In terms of the best time of the year, October, November and December are safe bets. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals. All three goals begin to come together late in the year.
The car industry has been oversupplying for years as the business model favoured volume of vehicle registration, which led to perpetual discounting or favourable finance rates. With high demand in both the used and new car market, there's less incentive for the prices to be reduced.