Specific Question about Mileage (another valuation thread)

Not trying to repeat previous discussions about overall valuation, but I'm in the market for a 996 and I'm trying to get a clearer sense on how much miles are worth � that is, how to value two similar cars when one has lower miles? To be clear: I completely understand that garage queens can be more problematic than cars driven consistently, and I'm looking for a driver, not an investment, etc. Personally I'm actually quite happy with a high-miles car that has been well maintained. But my sense is that the market is not kind to 996s with high miles, and I don't want to overpay. So to make the question specific: if you were looking at similarly well-maintained 996.1 C2 coupes, and one had 50K miles and the other had 90k, how much more would you pay for the lower mileage car? (Assume either that BOTH cars have had recent IMSB/RMS/AOS/clutch/water pump, or that NEITHER has, but assume the only big difference is the mileage.)

Given this a bump since it's been a few days. I know there is no "right" answer to this question, but was really curious to know people's various opinions, since collectively they make up the market here.

Check Kelly Blue Book for valuations.

I've found the kbb price to be really inaccurate for these cars, at least for our zip code. I paid 14500 for a nice 99 last year that I bought from an acquaintance and paid the kbb price. A dealer friend offered me 19k and from what I have seen people paying on rennlist I bet I could get 21k out of it if I wanted to sell it and held out a bit.

At this point, they are old enough that it is like buying a collectible, such as old silver dollars. Some people ask a very reasonable price for a gem of a car and others (usually dealers) ask twice as much for a piece of junk. When buying a 996, you have to be patient and willing to walk away from the grossly overpriced examples and the "reasonably priced" examples with significant issues (runs great, but it does have a little knocking sound and the oil is full of metal particles, but I'm sure it's an easy fix so I will knock $500 off...) Low mileage can be a plus if the car is well maintained and driven at some frequency. It's when they sit for months at a time that they develop issues. At this point, I don't think there is any specific price guide to follow. You have to value each example based on it's own merits.

The lower mileage car is probably worth at least $5,000 more.

I would put no more than a 10% premium on the car with lower miles (unless you're planning on parking it in the garage as an investment...not a good idea) ** Remember, when you're talking about a 15 year old car with 50k on it, that's only an average of 3500mi/year. Considering that no-one drives the exact same amount every year I would venture a guess that there are several years where the car was driven even less than that. As we all know, this amount of driving is not good for these cars. In addition to mileage, the maintenance becomes vital as well - If well maintained (with records to back it up) and all else being equal (overall appearance inside and out, performance - no rattles/strange noises) I would lean toward the 90k car (still only 6k mi/yr...that's a "low mileage car" in my book)...Good Luck

50k to 90k over 15 years isn't a big difference. The level of maintenance is more important. Besides the items you mentioned, what is the condition of the coolant expansion tank, suspension, tires, brakes, motor mounts, etc? A thoroughly refreshed 90k car would be better than an all original 50k car.

Yeah, IME of buying my first 911, I'd go for a higher-mileage example with a near spotless maintenance record than one with half those miles and a spotty history. Mine had 82k on it when I bought it, which averages to roughly 5900/mi. a year. That's not really much in the grand scheme of things when you think about it. My 2014 Lexus RX has already almost 68k miles on it.

Thanks for the replies. I think we have to separate out 1. the way the difference in mileage affects the usability and functionality of the car 2. they way the mileage affects the market value of the car I completely agree that a 15-year-old car with 90k miles on it is not excessive mileage, and that if it's been well-maintained it can be in great shape. I also completely agree and understand that a 911 likes to be driven, not parked. I am not trying to make an investment and I don't expect the car to appreciate. But I still might want to sell the car in 4-5 years, and my sense is that it will be really hard to sell a 120k car without just giving it away. In looking at both asking prices and sold prices the market valuation appears to me to be more than 10% between the two cars, maybe as much as 25%. I'm not saying this is the way it should be, but those who are saying not to worry about a car with "high" miles are probably not just trying to sell a 996 with 90k+ miles.

"Besides the items you mentioned, what is the condition of the coolant expansion tank, suspension, tires, brakes, motor mounts, etc? A thoroughly refreshed 90k car would be better than an all original 50k car." ^^Good points^^ "I completely agree that a 15-year-old car with 90k miles on it is not excessive mileage, and that if it's been well-maintained it can be in great shape. I also completely agree and understand that a 911 likes to be driven, not parked. I am not trying to make an investment and I don't expect the car to appreciate." ^^Good idea to your expectations re: appreciation in check... "But I still might want to sell the car in 4-5 years, and my sense is that it will be really hard to sell a 120k car without just giving it away." Eh... it's hard to predict the future - maybe, maybe not. If you're worrying about the future, you're not enjoying the present. As long as you maintain the car properly (ie: spend a decent amount of money and keep it in tip top shape) you'll be able to sell the car for a fair price - repeat, you're not going to make any money on it... I bought my '99 3 yrs ago with 135k mi. for $15k. I've put close to $10k into (and lots of sweat equity) in the last three years. At $25k I'm way behind the sales curve, but I bought the car to drive and work on and enjoy...the sale price is meaningless... ymmv

A 996 with 110,000 miles will be MUCH more difficult to sell later verses a 996 with 70,000 miles. I know this from personal experience. I have sold a 1999 996 with 64,000 miles for $22,000 and I currently own, and tried to sell, a 2002 996 with 123,000 miles. My 2002 is fully documented last 3 years with all maintenance done, it needs nothing, but it has an accident, a few cosmetic issues and miles. Can't give it away. Okay I've had many offers of $10 - 12k but nothing above $14k. There is little (zero) chance someone could go out and buy a 3.6L 996 (2002 -2004) for less than $14,000 that has all the maintenance and new parts my car has but that doesn't seem to matter. It's a tip, high miles, accident. Market value is roller and engine.

Maybe I am in the minority here, but I much prefer a lower or mid mileage car to a higher mileage car, given both vehicles check out and are well maintained. Usually a lower/mid mileage car was kept as a 2nd or 3rd vehicle and driven only on perfect days. They tend to have better maintained paint, with less rock chips or other exterior flaws, and they tend to have nicer interiors with less overall wear. If the vehicle has lower miles and was purchased near the bottom of its depreciation curve, you will often times break even or can even make money if you decide to sell the car within the next few years, assuming you kept the mileage driven reasonable. And as noted, a lower/mid mileage car may appeal to a larger target audience when it does become time to sell. 3600 miles per year works out to almost 70 miles driven per week. Many people that have a 2nd or 3rd "fun" car will drive it once or twice a week and only on a perfect day. IMO this is plenty of use to keep the car in excellent mechanical condition, and it is something I personally have done for many years with many different cars, with no ill effects whatsoever. The best lower and mid mileage cars I've found are those that have had larger service jobs done (as preventative maintenance) and are in tip top shape to drive for several years, possibly needing only oil changes. They are harder to find but can be well worth it, and knock on wood, I haven't had a single major issue with any of my lower mileage purchases. Of course there are exceptions out there, but this is a generalization that I have come to conclude based on my experience buying and selling higher end cars over a 15 year period. Personally I will pay a nice premium for a lower mileage car and not think twice about it. However! There is much to be said on the value of a higher mileage car, especially if you are looking specifically for a driver's car or a dedicated track car. Also a higher mileage car that has had its larger services completed may end up being a tremendous driving car for very little money. There are some gems out there!