If you know a little bit about cars you probably already know that mileage plays a big role in the value of a vehicle. Why? Most people believe that the higher the mileage on a vehicle, the higher the likelihood of car problems down the road. That makes demand go down for higher mileage cars, which in turn makes the price go down.
I’ve found that higher mileage is NOT a direct indicator of how long a car will last. If you offered me the choice between a car with 50,000 miles that was poorly maintained vs a car with 80,000 miles that was well maintained, I’d choose the car with the higher mileage every time. However, most buyers that I’ve met would choose the lower mileage car.
That’s something you’ll need to keep in mind as a car flipper – miles matter to buyers.