If you’re looking to buy a classic car, you might find yourself staring at a bunch of mileages that vary a great deal. The only mileage that can be considered original are the ones that are documented by a service and ownership history.
You can often find a good guide for high mileage vehicles online. Whether you’re a buyer or a seller, we have some tips for you here.
Let’s get to it!
The value usually goes down (most of the time!)
No surprises here. If a classic car has a high mileage, the value of it usually goes down. However, the value might not dip as low as it would for a non-classic car, as there isn’t the sentimentality to take into account.
The condition, age, and service history will be taken into account here, as well as the general popularity of the car model and how much people are willing to pay for it regardless of its current condition and/or mileage.
Cosmetic wear & tear is affected
The more that a classic car has been driven, the more cosmetic damage that the chassis and bodywork are likely to have sustained.
As you’d expect, this can also have an effect on the car’s value, as the aesthetics of a classic car are usually one of the main selling points that people are interested in.
Old cars have odometers that usually go up to 100,000 miles, roughly 160,000 km. When they reach 100,000 miles, they turn over and start at zero again.
Current condition, service and restoration history are everything!
When buying a classic car, take a look at the owner’s log book and file folder. Look for large gaps in the service history. Look for a change in odometer. Many people change the odometer to zero when they restore a classic car.
Many collectors claim that the mileage is original, human memory doesn’t have a good track record. Believe only mileage claims that are verified by documentation. A lot can happen to a car in 40, 50, or 60 yrs.
For modern classics, be careful when reading a Carfax Report, the conversion from Miles to Kilometers confuses the computer into believing there is a mileage anomaly.
Good luck in your search, mileage is only one factor in your decision making.