More than a third of dealers believe there is a growing market for used cars with over 100,000 miles on the clock, according to new research.
July’s Startline Used Car Tracker found that 35% of dealers surveyed see an expanding market for higher-mileage used cars.
Four in 10 said the quality of modern vehicles means they can still have considerable life remaining after passing 100,000 miles.
Almost a third, 32%, described customers purchasing higher-mileage vehicles as pragmatic buyers, while 15% said cars with more than 100,000 miles typically sell well.
Paul Burgess, chief executive of Startline Motor Finance, said: “The average used car has been getting older and higher mileage since the pandemic and we thought it would be interesting to get a dealer perspective on the situation.
“What we’ve found is that a significant minority of dealers seem to feel positive about 100,000-mile cars, saying they often carry their wear well, have plenty of life left and that there is a definite group of pragmatic buyers for these vehicles.”
Buyers remain cautious
Despite growing dealer confidence, 38% said motorists often regard cars with more than 100,000 miles as too much of a risk.
More than a third, 35%, said the condition of vehicles at this mileage can vary widely, while 23% believe some brands cope with higher mileages better than others.
More than a quarter of dealers, 28%, said vehicles with over 100,000 miles can require too much investment to prepare for retail.
The same proportion said more comprehensive warranties are needed to give customers confidence when buying cars at this mileage.
Burgess said Startline commissioned the research after figures from the RAC and eBay suggested there were six million cars on UK roads with more than 100,000 miles recorded, but only one in four consumers would consider buying one.
Appetite falls beyond 150k miles
The research found that 68% of dealers would be willing to retail cars with more than 100,000 miles.
However, this fell to 23% for vehicles with more than 150,000 miles and just 8% for cars that had covered over 200,000 miles.
Burgess said: “It’s interesting to see the drop-off here. While most dealers see at least some 100,000-mile cars as a good buy, interest quickly declines as mileage increases and relatively few will retail cars with 200,000 miles.”
The July Startline Used Car Tracker questioned 60 dealers and 300 consumers.
The monthly research is carried out by APD Global Research and monitors changing attitudes towards used car demand, fuel choices, affordability and market conditions.
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