Although there is no official definition for high mileage, a vehicle with more than 100,000 miles would be considered a high-mileage vehicle. Some cars may be capable of reaching 200,000 miles or more.Know More
Some older vehicles may be classified according to the amount of miles the car has been driven rather than the age of the vehicle. Odometers in older cars didn't even measure mileage beyond 99,999. Upon reaching such a high number, the odometer would simply start over at zero. Although mileage alone does not determine the value or condition of a car, it is a contributing factor. Many cars that have reached 100,000 miles have been properly maintained, allowing them to reach such a high number of miles.
As automotive technology improves, modern vehicles may last as long as 200,000 miles. In addition to technology, budget-conscious consumers are also hanging on to their vehicles for longer periods of time rather than getting rid of them to buy a new vehicle. Therefore, it may not be long before 200,000 miles is considered high mileage.Learn more about Buying & Selling
The primary differences in leasing versus buying a vehicle are the ownership, monthly payment amounts and restrictions on use of the vehicle, explains Consumer Reports. Depending on the lease terms for return of the vehicle at the end of the contract, the length of time a person has the car differs.Full Answer >
An auto lien is an agreement that allows a loan provider to legally take the vehicle from the loan recipient if the recipient does not repay the loan as agreed on the date of purchase. Liens are a consequence of agreeing to a loan, and protect the loan provider from loss.Full Answer >
To sell a car, prepare the care for the buyer, establish an asking price and decide where to list the vehicle, according to DMV.org. Additionally, it's necessary to prepare all necessary paperwork, and evaluate the car’s marketability.Full Answer >
Perhaps the greatest advantage of leasing a vehicle is a lower monthly payment; the biggest disadvantage is the lack of ownership at the end of the lease. Whether or not a lease is the right decision ultimately depends on the motorist's lifestyle and preferences, cites 'Edmunds.'Full Answer >