Im looking at a 05 Avalanche it is loaded with sun roof, heated seats, power mirrors everything. Even nice rims.. I put a ad in want to buy on craigs cars/trucks and this guy came right back.. This truck has 113,000 miles he wants $12,500 said his wife is on to him to sell his toys with 2 babies on the way. Other 2 is 06 vet and a Harley.. Is this to many miles??? How do I cipher this???
Per Jack Valance:
I don't know a lot about motor vehicles, but I've got a '98 Suburban with 190k on it which, if the roof hadn't rusted trough, would (according to my mechanics) be good for 350 minimum).
This was the only new car I've ever owned. Never again.
My formula for buying used cars was to look for an older-than-usual vehicle with fewer-than-usual miles on it and then divide the price by the number of miles I thought it still had in it to get dollars per mile.
$12,500/(350,000 - 113,000) ==> about 5 cents per mile.
That's a *lot* better than mine:
$45,000/190,000 ==> 27 cents per mile when I have to sell it bco the roof rusting through....
Or, if the roof hadn't rusted through: $45,000/350,000 ==> 13 cents/mile... or even $45,000/500,000 ==> 9 cents/mile.
Now that I've gotten the new car thing out of my system, my rationale for used vehicles has been upgraded by one more thought: buying used gets the cost/mile down low right away without having to hope the thing will go some long distance without an unforeseen event like body rust.
Kelly's blue book
I don't have all your info, but He might be close to the actual book value. The numbers I came up with were higher. The 5.7l will easily go 250k miles, providing the intake gasket is changed in time.
Cheers
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