Henley Autodata predicts that retail buyers will continue to opt for low-mileage cars even if they are older than their high-mileage counterparts.
Martin Keighley, future residuals manager at Henley Autodata, said: ‘Even though high-mileage cars are much more reliable now than ever before, they still scare the retail buyer. This has led to the gap between medium-mileage and high-mileage vehicles widening. It is a trend which is expected to continue, with values for many extra high-mileage cars likely to plummet.’
Keighley believes the vast choice of vehicles and finance options means buyers no longer need to opt for high-mileage fleet cars as a cheap alternative.
He said: ‘The gap between a 60,000-mile and a 90,000-mile car has continued to widen on average by 1-2% over the last three years. This equates to £50-£100 on an average fleet car.’