Several decades ago, car owners would beam with pride, and rightly so, when their vehicles showed an odometer reading of more than 200,000 miles. That high figure was a sign that the car or the truck they drove was stronger than most, that it was almost like part of the family. But over those intervening decades, between then and now, car owners have had less success getting their vehicles to survive the 200,000 mark, and most will trade-up for something newer by 100,000. The cost of motor vehicle insurance may be lower for an older car
, but if your miles are high, that also signifies a lot of driving, which can increase the cost of your coverage.
According to one study, only 1% of used vehicles in 2019 had ever reached 200,000 miles, though it was possible to purchase one with that high number. For every Chevrolet Silverado, Toyota Prius, and Honda Civic sold that year, approximately 2% of them were sold with more than 200,000 miles. That number inched up to 3% for Toyota Tundras and GMC Yukons, 4% on Toyota 4Runners and Chevy Tahoes, and nearly 5% on Chevy Suburbans. That might imply a competitive marketplace for high mile used cars, between Chevrolet and Toyota, but the top two used vehicles sold in 2019 with the highest miles were the Toyota Sequoia, at 9%, and the Toyota Land Cruiser, at 15%.
Since today happens to also be Odometer Day, compare yours with the average. How high does your odometer currently read and how long have you owned your vehicle?
If you or someone you love has been the victim of a wrongful death, a personal injury, or a motor vehicle accident, please contact the law offices of Beers and Gordon P.A. for a free consultation. Our firm serves all of Seminole, Orange, Volusia, Lake, and Brevard counties, including Oviedo, Winter Springs, Altamonte Springs, Sanford, Longwood, Winter Park, Lake Mary, and Greater Orlando. Our attorneys have over 50 years of combined experience ready and willing to go the distance on your case. Call us right away at 407-862-1825.