Fleet News

Bids confusion over high-mileage vehicles

FLEETS with high-mileage cars are taking a gamble at auction because buyers don't know what price to bid for them.

High-mileage vehicles with 100,000-plus miles are suffering from huge price variations as a result, Glass's Information Services has claimed.

Adrian Rushmore, managing editor at Glass's Information Services, said: 'Once a petrol vehicle reaches 100,000 miles and a diesel reaches 110,000, the rate of depreciation actually starts to flatten out, but there are significant variations of prices around the norm.

'Used cars undoubtedly withstand the effects of higher mileage better now than they did even 10 years ago but the stigma of having a six-digit number on the odometer still has a considerable influence.'

Glass's is extending the mileage tables in its Guide to Car Values this month in a bid to help buyers understand the relationship between mileage and prices above 100,000 miles.

Rushmore added: 'As a result of high levels of consumer spending there is more buying activity being concentrated around new and younger used cars and this is not helping demand for high mileage examples.'

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