mileage Archives - My Car Credit

Is 100k Miles a Lot for a Used Car?

If you’ve spotted a used car at a good price but with high mileage, you might be wondering ‘is 100k miles a lot for a used car?’ The answer to this will vary depending on several factors. Read on to learn more.

Is 100k miles too much for a used car?

There is no one answer as to what counts as too many miles on a used car. This will vary on the age and make of the vehicle. Firstly, you’ll need to put that 100k miles into the context of the car’s age. Average mileage on a vehicle will usually be in the range of 7,000-12,000 miles per year.

If the vehicle is only a few years old and already has 100k miles on the clock, it has seen a lot of usage and may be experiencing higher levels of wear and tear, which could quickly become costly through repairs. So, if we’re asking ‘is 100k miles a lot for a used car’ in relation to a newer vehicle, the answer could very well be, ‘yes’.

If the vehicle has been used for over 10 years, you are potentially getting a much better deal. 100k broken down over 15 years, for example, means the car has been driven less than 7,000 miles a year. However, a more modern vehicle also comes with its own technological advancements, so a 2018 car with 100k miles would potentially drive far better than a model from 2012.

Is a high mileage car worth buying?

Ultimately, you will need to research the different car models and how well they run after reaching 100k miles. If you have a specific car in your sights, you might want to ask about its service history and any accidents or issues from the previous owner.

The lower price and slower depreciation can make high mileage used cars attractive to drivers. A car that goes from 10,000 miles to 30,000 miles will depreciate more than one going from 100k to 120k, for example.

However, they come with many risks – including the lack of a valid warranty and the higher potential for wear and tear. They’re also less likely to be accepted for car financing. Whilst cars with mileage over 100k may be just right for some motorists, lower mileage vehicles come with a level of security that many drivers can’t ignore.

If you’re interested in financing an up-to-date low-mileage vehicle, why not get a car finance quote to get the ball rolling today?

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

Diesel vs. Petrol – Comparing Car Mileage

If you’re looking at buying a new car, there are a number of factors you’ll want to consider. One of the most fundamental is whether you should buy a petrol or a diesel car. In order to come to a decision, you’ll likely be considering the fuel economy of different engines – or, in other words, the mileage of a diesel car vs. that of a petrol car.

This article will look at the mileage of petrol vs diesel, and help you decide which type of engine you’d prefer for your next set of wheels.

Car mileage: diesel vs. petrol

First off, let’s clarify how fuel economy works. It refers to the number of miles a car can travel on a specific amount of fuel. This is measured in MPG, short for miles per gallon. The higher the MPG rating of a vehicle, the more fuel-efficient it is, as it can go further on one tank of fuel and cover more miles per gallon.

What impacts MPG?

There are several factors that will impact the MPG of a vehicle, as well as its actual engine mechanics.

Your own driving style will impact the MPG of a car. If you regularly tow heavy items, rapidly brake or accelerate, speed, frequently idle (for example, at traffic stops), or only travel short journeys, you can negatively impact the MPG. Similarly, if you wear your tyres out and don’t replace them, or don’t regularly maintain your car, this can negatively impact the MPG.

Environmental factors will also play a part. Regular use of the air conditioning, for example, will impact the MPG, but so will opening the windows (as this makes the car less aerodynamic). Cold weather also brings strain, as the engine takes longer to warm up.

One of the most significant factors affecting a car’s MPG is its engine, which is why you’ll frequently see articles comparing the mileage of a diesel car vs. a petrol car.

Diesel vs. petrol – which has better fuel economy?

Diesel cars have better fuel economy to petrol cars, making their mileage better value for money. This is because diesel fuel contains more energy in a like-for-like comparison than petrol fuel. That means that if you’re regularly making long journeys in a petrol vehicle, you’ll end up paying more overall for fuel, even though petrol is cheaper per litre than diesel fuel. It’s all about the law of averages.

Which? ran a series of independent tests, which found that the average MPG of a diesel car was higher around town, out of town, and on a motorway. As a combined score, the overall MPG of the diesel car they tested averaged 46.8 compared to 41.9 for the tested petrol car.

Overall, in the battle of mileage for a diesel vs. petrol vehicle, diesel’s fuel economy will always win out. Diesel cars are also better for longer journeys at high-speed – that is, for frequent motorway driving – and if you need a vehicle that can tow well. Diesel vehicles have more torque than petrol vehicles, which have to work harder to maintain momentum and power and will therefore use more fuel.

Other factors to consider

It may be that the verdict on diesel’s better mileage is enough to settle your choice as to whether to purchase a diesel vs. petrol car. However, deciding whether a diesel car is right for you is unfortunately not that black and white.

Petrol vehicles produce fewer overall emissions of CO2 per litre of burned fuel compared to a diesel engine – however, because a diesel engine’s mileage is higher than its petrol counterpart, it will tend to have lower CO2 emissions. That said, petrol cars produce far fewer particulate emissions than diesel vehicles – particularly older ones, which emit nitrogen oxide, a substance that’s linked to air pollution and harmful health side effects. Petrol cars therefore result in less local air pollution.

Diesel cars are also bad on short, stop-start trips, as their DPF (diesel particulate filter), which is responsible for minimising harmful particulates, won’t operate as efficiently unless the engine is hot.

Financing your petrol or diesel car

Whether you decide on diesel for better long-distance mileage or petrol for short, stop-start trips, car finance can help you spread the cost of your next car to improve affordability and maximise your budget.

At My Car Credit, we aim to make the finance application process as simple as possible from start to finish. Get the ball rolling by checking your car finance eligibility, then benefit from our extensive network of trusted lenders to get a fair deal whatever your credit score.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

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Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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How Much is Low Mileage Worth on a Used Car?

Man enquiring about worth of used car with low mileage

There are many factors that impact the cost of a used vehicle. With mileage amongst the most important, we question how much a used car is worth with low mileage.

There’s no exact science to determine the worth of a used car’s low mileage. That said, Motorway UK use the guiding principle that low mileage vehicles tend to sell for anywhere from 20 – 30% more than the same vehicle with higher mileage.

If you’re shopping around for a used vehicle, you’ll want to factor mileage into your calculations. However, it’s also worth being aware that mileage is not necessarily the final word in a used car’s retail value.

What is car mileage and why does it matter?

A car’s mileage refers to the total number of miles that the car has been driven. It helps you to gauge how well used the car is. Furthermore, it is also an indicator of how likely the vehicle is to break down in the future.

The higher the mileage, the more wear and tear the vehicle will have endured. That’s why you could have two identical vehicles of the same make, model, and age in one marketplace, but the car with the lowest mileage will be higher priced.

In 2021, the average car mileage in the UK was 7,400 miles a year, but anywhere between 9,000 and 12,000 miles would be considered a normal annual mileage.

How does mileage impact a car’s selling price?

A used car with low mileage is likely to be worth more than one with high mileage. There are different factors that will impact the price at which a used car will retail. These include its condition and service history, the popularity of the model, the number of previous owners, its engine type and emissions, its age, and its mileage.

As a side note, it’s always worth checking the brake pads, tyres, brake discs, and clutch of any used vehicle you’re interested in. Be aware, too, that diesel cars will typically have a higher average mileage than petrol. In addition, cars predominantly driven around urban environments will likely be in better condition than their rural counterparts.

As a general rule, cars are grouped into mileage bands. If a vehicle travels over 20,000 miles, it will lose around 20% of its value. If it then exceeds 40,000 miles, it will lose a further 20% of that value.

So, for example, if a car was worth £40,000 new at purchase, but is resold with less than 20,000 miles on its mileage, it will have lost £8,000 in value, making it worth £32,000. If it is then resold with a mileage of over 20,000 and under 40,000, it will have lost £6,400 in value, making it £25,600.

Be aware that this is just a guiding rule, however, and any of the above factors in combination with its mileage will also impact the used car’s overall worth.

Are there any downsides to a low mileage vehicle?

There can actually be disadvantages to buying a vehicle with low mileage.

Clocking

Car clocking occurs when a car’s odometer (the tool that measures mileage) is tampered with. Unfortunately, clocking is a frequent occurrence, so if you find a vehicle with mileage that seems very low, it’s worth investigating whether it’s too good to be true.

Lack of use

If a car is underused, it’s actually more likely to need future work, as parts like the battery, engine or brakes won’t be used to running regularly. Neglected cars, even if they have low mileage, may actually end up costing you more in the long run than a well-run, but well cared for, vehicle.

Your planned usage

Ask yourself how often you intend to use this vehicle. If you’re planning long, frequent journeys, then it doesn’t necessarily make sense to pay more for a car with low mileage, as you won’t make this money back if you plan to resell it at a later point. Far better to opt for a model that’s perhaps a tad more expensive, but similar in make, and with a decent, well maintained service history.

Financing your car

If you’ve found the right low mileage used car, the next step is financing your purchase. That’s where My Car Credit can help. We compare deals from a large and trusted network of lenders to find car finance that fits your need. Get a car loan quote today or contact our team of specialists to find out more.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

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Advantages and Disadvantages of PCP Car Finance

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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Is It Worth Buying a Car Over 100K Miles?

With the average new car costing between £12,000 for small models and £35,000 or more for more luxurious rides, many motorists opt for a second-hand vehicle. There are big savings to unlock, particularly if you’re willing to opt for an older and well-used vehicle with more than 100K miles on the odometer. This is an option that many Brits embrace, with the latest statistics suggesting used car sales outpace new car sales by around three to one in the UK.

So, is it worth buying a car over 100K miles? Below, we look at the pros and cons of purchasing a high-mileage car.

Understanding the miles/age ratio

Before we get started, let’s take a moment to define where a car with 100K+ miles on the odometer sits on the condition scale. As a general rule, a five-year old car should have done around 75,000 to be classed in “average” condition. Anything over is considered a “high mileage” while anything under is considered in “good” or “excellent” condition.

Another factor to consider is the age of the car as this can have a significant impact on overall condition and performance. Many modern cars may have more than 100K on the odometer but will still be in great condition with lots of life left in the engine. This is because newer models feature more advanced technology. A 2019 model that’s done 100K will likely offer better longevity than a 2016 model with 100K and will be priced accordingly.

The pros of buying a car with 100K miles

There are plenty of plus points to enjoy when purchasing a high-mileage vehicles, with some of the best spotlighted below:

Lower purchasing price

The cost of buying a new car has increased exponentially over the past few years. This means most Brits need to take out credit to get behind the wheel of a new car. When you buy a second-hand vehicle with 100K+ on the odometer you can drastically reduce the cost of ownership. Some people choose to pay with cash, allowing you to eliminate debt completely. If you don’t want to pay for your second-hand vehicle outright and plan to take advantage of low-interest car loans, the lower price tags of vehicles with 100K miles keep your payments low and affordable.

Lower depreciation

It’s not unusual for the value of a brand-new car to decrease by up to 30% in the first year of ownership. In the first five years, the value of the car will likely drop by 50% or more. By opting for an older vehicle, you’re avoiding this initial depreciation. Furthermore, the ongoing rates of depreciation tend to be lower for cars that have done 100K miles or more. This means that in a few years, you may be able to sell the car for a similar price to what you purchased it for. In some cases, you may even be able to secure a higher price.

Cheaper insurance

High purchase prices generally translate to bigger insurance bills. One of the main benefits of buying a second-hand car with 100K+ is the big savings you’ll enjoy from your insurer. Older and more utilised vehicles are a lower risk for insurers, which means your monthly premiums will drop to reflect this.

The cons of buying a car with 100K miles

While there’s lots to love about buying a car with 100K miles, there are also some cons to consider.

No complimentary servicing

One of the major benefits of purchasing a nearly-new car is the warranty and complimentary servicing that’s often thrown in by the dealership. When you purchase a second-hand vehicle with more than 100K miles on the odometer, chances are the car is no longer under warranty and has exceeded its free servicing timeline or mileage limit. This means any work done on the car will need to be paid for out of pocket.

Heavy wear and tear

There’s no two ways about it – cars with 100K+ on the odometer have racked up a lot of time on the roads. This means the engine and all other components have been put through their paces. For example, a car with 100K+ miles may have been used as a taxi or rideshare vehicle. In some cases, this can make second-hand cars a risky purchase as they may be well past their prime.

Restrictions on finance

Bearing in mind the point made above about wear and tear, this can make a car with 100K+ on the clock a poor prospect for car finance lenders too. It will be much harder to find a lender prepared to finance your car. As such, this could limit your options if you do wish to go down the finance route. Most lenders will stipulate that your proposed car must have done under 100K miles.

The bottom line on buying a car with 100K miles

Is it worth buying a car over 100K miles? The answer depends on your budget, personal preferences, and what level of risk you’re willing to take on. Many British motorists choose to purchase cars over 100K miles and are very happy with their decisions. The key is to do your research and learn about the reliability of different models and how they fare after racking up 100K miles or more. When you’ve settled on a particular car, be sure to dive into its service history and do some sleuthing about its previous owner and any accidents it may have been in. This arms you with the knowledge to make an informed decision when purchasing a well-used car.

Sure, you may not get to enjoy that coveted “new car smell” when you purchase a second-hand vehicle. But the savings you can unlock are a huge bonus and are the reason many motorists decide to buy a car with 100K+ miles. And of course, you can always recreate the new car smell with air fresheners, leather conditioners and odour eliminators that will make you feel as though you’re driving straight out the showroom.

Find out what you can afford

Is it worth buying a car over 100k miles? For the right vehicle, the answer could be yes. However, the benefits of a low-mileage car are hard to resist for many motorists. If you’d like to get behind the wheel of a newer vehicle that hasn’t been heavily used, car finance is a great option. Our car loan calculator UK is a great place to start, helping you crunch the numbers and get a good idea of how far your budget will stretch with a competitive loan.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

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What’s the Best Month to Buy a Car?

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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Age vs Mileage – Which is More Important for a Used Car?

When it comes to buying a used car, age and mileage are two of the key considerations which will affect both the condition of the vehicle and its price tag – as well as your decision whether to seal the deal or not. But is used car mileage more important than age, or vice versa? The answer isn’t quite as simple as either of those options.

What’s in a number?

As key indicators of how far through its lifespan a vehicle is, age and mileage are both important points to consider when weighing up whether to buy a used car or not. However, they’re both entirely relative.

For example, a 10-year-old car with 100,000 miles on the clock could be in far better shape than a five-year-old one with half that mileage, if the owner has been more assiduous in their maintenance of the vehicle. Similarly, a car that has been used mostly on motorways and for long-distance journeys is likely to suffer fewer problems than one which has spent the majority of its life in the stop-start traffic of a busy city.

With that in mind, it’s important to look at the car’s condition, service record and list of previous owners before making a decision. Used car mileage and age are both useful indicators of its value – but with no context, they can only tell you so much.

What’s the best age to buy a used car?

Following on from all of the points discussed above, there is no one-size-fits-all answer to this question. The best age to buy a used car will vary from vehicle to vehicle, with the car’s previous history a far bigger factor in whether it represents a sensible purchase or not.

However, it may be helpful to consult some statistics to inform your decision. According to the Society of Motor Manufacturers & Traders (SMMT), the average age of a used car at the time of scrappage was 13.9 years in 2015 in the UK. The average age of a used car on the road, meanwhile, was 7.8 years.

With that in mind, it makes sense to steer clear of cars over eight years old, since you’ll be buying one above the average age. Generally speaking, buying a second-hand car that is under five years old is likely to stand you in good stead for many years. Of course, an older model will almost certainly be significantly cheaper, while there are definitely good deals to be had even with cars that are in double figures.

Do your homework

Taking all of that information into account, the simple answer to the question posited in the title of this article is that neither age nor mileage is more important than each other in isolation. Instead, each will have a bearing on the car’s overall condition, but that condition must take pride of place when it comes to making a final decision when you’re buying a car or looking to finance a used car online.

Don’t rush into any deals, make sure you do your due diligence and research a car thoroughly before you sign on the dotted line. Sticking to that advice will ensure you avoid any nasty surprises and keep you on the straight and narrow when it comes to buying your next vehicle.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

How Quickly Can You Buy a Car?

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What’s the Best Month to Buy a Car?

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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How Much Mileage Is Good for a Used Car?

UK motorway adding large mileage to a used car

It’s one of the most commonly asked questions whenever someone is searching for a second-hand set of wheels. As an important indicator of how intensively a car has been used – and how much longer it’s likely to last before significant maintenance work must be undertaken – used car mileage is a key consideration for any buyer.

However, it shouldn’t be the be-all and end-all when it comes to deciding whether or not to splash out on a used car. The age of the car, its service history and its current condition are all equally as indicative of a car’s likely longevity. With that in mind, weighing up all those factors is crucial to arriving at a balanced decision.

Age: just a number?

While most buyers will regard mileage as the chief concern when it comes to weighing up a car’s merits, its age can actually be just as influential on how much it could cost you further down the line. That’s because manufacturers are now offering longer warranties with their vehicles. This means that a younger car has a good chance of remaining eligible, while an older one could be discounted on those grounds before any other issues are taken into account.

For example, Kia has set the standard for others to follow when it comes to extended warranties, offering seven years on all of its models. Hyundai, Toyota, Mitsubishi and Subaru are not far behind, with five years of warranty provided for most of their vehicles. What’s more, Renault offer four years for the majority of their models. Remember, of course, that there is often a mileage ceiling for warranties as well – but that age is generally the first factor which will preclude a car from coverage.

Condition is key

Besides used car mileage and age, condition is another incredibly important factor to consider when buying a second-hand car. After all, a 10-year-old vehicle that has covered over 100,000 miles but has been driven sensibly, serviced on time and generally well cared for is a great proposition. In comparison, a car half its age, with a fraction of the mileage, driven recklessly and maintained on a shoestring budget is less so!

The cosmetic appearance of the car is the first thing you’ll notice about it, so pay attention to any dents, scrapes or bumps that haven’t been treated by its previous owners. This will give you an indication of their overall attitude towards the vehicle and will likely reflect how the car has been treated on the whole. The same goes for uneven paint jobs, rusting and discolouration. In addition, any grinding, juddering or unpleasant noises during a test drive are major red flags that shouldn’t be ignored.

As well as subjecting the car to a thorough examination and a test drive, it’s also essential that you cast an eye over the paperwork. Ask to see its complete service history – if one isn’t provided, steer clear straight away – and check for major surgery. In particular, look out for big ticket operations like cam belt replacement, which can affect many other components of the car. This could result in a hefty bill if the work needs to be carried out under your ownership.

How much mileage is good for a used car?

Having said all that, many buyers are still keen to have a ballpark figure in their head when it comes to considering used car mileage. As a general rule of thumb, a car is expected to cover an average of between 10,000 and 12,000 miles per year. With that in mind, it’s simply a case of doing the sums and checking to see whether your prospective new motor has been under or over-performing during its lifespan to date.

For those buyers who wish to take advantage of car financing to fund their purchase, it should be remembered that most lenders will put a cap on the number of miles a vehicle has driven to be approved for a deal. That exact figure will vary from lender to lender and can change depending on the unique circumstances of the arrangement. However, it’s normally around 100,000 miles. Bear that in mind if you wish to obtain a PCP, PCH or HP deal when buying a used car.

Extenuating circumstances

Of course, the above ballpark is meant merely as a guideline that can help influence your decision. There are also exceptions to the rule which can mean that a higher mileage isn’t necessarily indicative of a problem. For example, if the vehicle has been used as part of a professional fleet, it could easily cover upwards of 30,000 miles a year, which sounds like a lot of tarmac under its belt.

However, company cars often spend much more time driving in motorway conditions as opposed to urban metropoles. This can mean that the steady nature of coasting is far less taxing than the stop-start rhythms of a busy city centre. What’s more, a company-owned vehicle is almost certainly going to have been serviced regularly and cared for with a professional approach, meaning it’s less likely to suffer from serious issues under the bonnet.

Trust your instincts

When approaching a potential automotive transaction, thinking about how much mileage is good for a used car is a solid starting point, as is factoring in its age, track record and current condition. However, there’s simply no substitute for your own judgement when it comes to these matters. Buy with your head (and not with your heart) and you’ll find that your own instincts will often alert you to whether a deal is a sound investment or not.

Thankfully, much of your homework can be done in advance of an in-person inspection. With a wide variety of car buying sites available online, you can research different makes and models, ask questions of dealers and see 360° photos of the vehicles in question. You can even use a car finance calculator to ascertain how much the car will set you back in the long run through used car finance! Trust your gut, then reinforce that decision by doing your due diligence and you won’t go far wrong. Happy trails!

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

Advantages and Disadvantages of PCP Car Finance

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Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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What to Check When Buying a Used Car

Searching for a second-hand car can prove to be a challenging task, especially if you don’t know your head gaskets from your gearbox transmission fluid. Of course, the fact that used car salesmen have long carried a reputation for exaggerating the assets at their disposal doesn’t make the task any more appealing. But thankfully the automotive world has come a long way since then. What's more, there are key things to check when buying a used car that will make your experience easier.

Nowadays, you can conduct a significant amount of research online, long before you set foot in a dealership forecourt or clap eyes on the vehicle in question. With a wealth of information at your fingertips, including 360° images of the interior and exterior, a full history of its past performance and user reviews from other owners of the same make and model, you’re better equipped than ever before to land yourself a bargain. You can even find used car finance easily online to help you fund your purchase!

Having said all that, there’s still no substitute for giving the tyres a good kick and running your eye over the vehicle in person before you sign on the dotted line. For anyone unsure about which questions to ask and which tell-tale signs to look out for, here’s a quick reminder of what to check when buying a used car from a dealership, at an auction or via a private seller.

Buying a used car checklist

With so many things to keep in mind, it’s a good idea to separate out each area of concern into a different category. This can greatly simplify the process and make it far easier to remember everything when compiling a buying a used car checklist. You should make sure you cover the following areas:

Under the bonnet

As the beating heart of any vehicle, the engine should always come in first on your list of what to check when buying a used car. Make sure there are no signs of leakages in and around the engine, which could come from the oil, the coolant, the transmission fluid or the power steering fluid. It’s also a good idea to leave the engine running and inspect the tailpipe for discoloured emissions, which can indicate an issue.

In the driving seat

Get into the driver’s seat and switch the ignition on, which will allow you to instantly see on the dashboard whether any warning lights come on. While you’re here, you can also confirm the car’s mileage and try out all signalling lights, as well as satisfy yourself that all the climate controls, windows, central locking system, infotainment panel and any other electronics are all in good working order.

On the road

It should really go without saying, but the number of buyers who finalise their purchase without taking the car for a test drive is quite staggering. Make sure you get behind the wheel and on the road to get a feel for the car’s brake response, clutch biting point and ease of changing gears. Any delay, resistance or grinding is a red flag that not all is well with the gearbox or brakes, both of which are absolutely crucial to the running of the car.

In black and white

Documentation is still an all-important piece of any car purchase, since it will not only enable you to see a detailed breakdown of the car’s past history including any insurance write-offs, but will also allow you to prove it is yours after the fact and help you get the car taxed when the time comes. Don’t move forward with any deal if the vendor can’t provide a service history, a V5c and an MOT for the vehicle.

On the eye

When buying a used car, check everything that the seller is telling you with your eyes and your ears. For example, dinks and dents to the exterior bodywork could point to a past accident they would prefer you didn’t know about, while strange sounds during operation might highlight an ongoing issue. Take stock of the car’s outward appearance, its purported age and the service history to see if they all tally. If they don’t, the seller might be trying to pull the wool over your eyes.

Safety first

Last but not least, it’s essential to make sure you prioritise safety every time you buy a used car. This means checking all the nitty gritty details of a car’s operational status, including making sure that the windscreen wipers, air bags, headlights, seatbelts and other safety features are in perfect working order. You should also verify whether the car comes with a spare tyre, jack or any other maintenance tools, as well as measuring the tread of the tyres themselves. Any tread that is less than 3mm will mean they’ll need replacing sooner rather than later.

Evaluate your options

Whatever vehicle you wish to buy and whoever you’re trying to purchase from, it’s important not to rush into any decisions. If you uncover faults with any of the items mentioned above, you can insist the seller handles it, negotiate a reduction in price or simply walk away from the deal. With eight million used cars sold in the UK each year, you should always remember that there are plenty of other options out there.

With that in mind, if you have any doubts about a used car, checking the market for other alternatives is always a good idea. Listen to your head – not your heart – and err on the side of the caution with any second-hand purchase and you can’t go wrong. As always with these types of deals, price is a major factor, but it should never be the defining one. Don’t plump for a substandard set of wheels just because they come at a discount price.

At My Car Credit, we make it easier to buy used cars on finance, so you don’t have to compromise on the quality of your purchase because of the up-front costs. To find out more, simply drop us an email at enquiries@mycarcredit.co.uk and we’ll be happy to run through your options. Whether it’s a new car or a used one, we’re here to make the whole process that little bit easier. Get in touch today!

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

How Quickly Can You Buy a Car?

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What’s the Best Month to Buy a Car?

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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The Pros & Cons of Buying a High Mileage Car

When purchasing a used car, there's one question that sparks fiery debate – does mileage matter?

The answer? It depends on who you ask. Those in favour of high mileage often have a penchant for classic cars, praising the durability and cost-effectiveness of well-loved models. In contrast, low mileage lovers worry about the potential maintenance expenses and overall wear and tear that comes with large amounts of use.

Ultimately, there’s wisdom on both sides of the argument. Read on as we explore the pros and cons of high-mileage cars in more detail, to help you make the right decision.

Pros of buying a high mileage car

Cost-effective

While increased mileage on relatively new cars points to overuse, excluding an older model based on its odometer could mean you’re losing a real bargain.

Used high-mileage cars are more cost-effective on several fronts. Firstly, the initial price is dramatically reduced, and in some cases, you’ll pay less on insurance than you would for a newer model. Additionally, an older vehicle with more miles has already proven itself to be trustworthy. Thanks to the frequent lubrication and reduced carbon build-up associated with regular use, you may incur fewer maintenance costs down the line.

Depreciation

To summarise, depreciation is the amount of money a car loses over its lifetime. Like all cars, high-mileage cars depreciate. However, they don’t do so as fast as newer models. So, if you’re looking to buy and sell cars for profit, or just to get a car that keeps its value, you’re more likely to succeed with the well-driven variety.

Classic cars

Rare and unique classic cars are bound to have been around the block a few times, often racking up plenty of miles in the process. However, collectors won’t be fazed. After all, who could pass up a Subaru BRAT, Mazda MX5 or Delorean DMC-12?

Cons of buying a high mileage car

Harder to secure car finance

Mileage matters when purchasing a car on finance because once you go over 100,000 miles, lenders are hesitant to provide funding. As a result, you may get stuck with a lousy deal that costs you more money long-term.

Maintenance costs

In most cases, provided they’ve been looked after, low mileage cars are in better condition. As the miles creep up, prepare for more diligent maintenance routines to offset higher levels of wear and tear. After a certain mileage, you may also have to deal with faulty car transmissions, oil leaks and fuel pump failures.

It’s fair to say that with a high mileage car, you may have reliability issues. This isn’t ideal when it comes to getting into work on time and driving family around – no one enjoys standing on the hard shoulder waiting for the breakdown services to arrive!

New features

Newer cars come equipped with a range of impressive technology including high beams, automatic emergency brakes, adaptive cruise control and even heated steering wheels (because why not?). In contrast, older high-mileage models lack sought-after safety features and impressive new gadgetry, which could be a deal-breaker for some.

Whatever you choose, we’re here to help

At My Car Credit, we can help you to find the right finance option when purchasing a car, whatever its mileage. To find out how we can help you, give us a call on 01246 458 810 or drop us an email at enquiries@mycarcredit.co.uk.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

How Long Does It Take to Buy a Car?

What is the Oldest Car a Bank Will Finance?

I want to buy a car on finance, how much can I borrow?

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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Old Car Finance: Used Car Finance Age and Mileage Requirements

Woman driving a car of low age and mileage bought on car finance

Ultimately, the limits on used car age and mileage will be determined by each individual car finance lender. These will also vary depending on your individual circumstances. In addition, each lender will have their own set of specifics when it comes to this area. However, there are some general guidelines around age and mileage that will help you when it comes to used car finance.

General rules

A car’s age at the end of the proposed finance term will be restricted to 12 years old. For example, when you apply for car finance loaned over a five-year period, the car cannot be over seven years old at the time of the initial purchase.
Your car’s total mileage will be limited to 100,000 miles from the start of the proposed car finance term.
There might be some mileage restrictions included in the term of your loan. Quite often, you may find some car finance lenders allowing for around 10,000 miles a year.
A less general rule involves the value of the loan. Some lenders will only agree to car finance for an older vehicle depending on the amount of the loan. Usually, this amount is set around the £3,000 mark, but this can vary.

The exceptions

Some of our lenders will review your application on a more individual basis. In exceptional cases, they may disregard some of the general rules outlined above. What’s more, factors such as the strength of your credit profile and the type of car you are looking to finance will be considered. In these cases, My Car Credit and the lender may request extra checks on the car, such as an MOT or HPI check.

Are you thinking of financing a used car that doesn’t quite meet the general guidelines? We’d advise you discuss it in more detail with your Car Credit Specialist at the time of your application? In conclusion, we’re here to help – from handling your application and helping you find a car to sourcing the best car finance lender for your circumstances.

How My Car Credit can help you find the right used car

As part of our promise to provide the best car-buying experience, My Car Credit offers a comprehensive My Car Search.

Our extensive stock feed of quality used cars is updated on a daily basis. Crucially, all the cars we have available are sourced from our network of trusted car dealer partners.

We take full responsibility for vetting all of our dealers for their credibility. This is based on their status with the Financial Conduct Authority (FCA), their financial stability and customer service standards. By choosing your car through us, you’ll get the best choice of cars, the best car buying experience and excellent after-sales service.

If you would like further advice or guidance on choosing the right used car for your budget, please get in contact on enquiries@mycarcredit.co.uk or call 01246 458 810.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

How Quickly Can You Buy a Car?

5 Best Car Picks for Elderly Drivers

What’s the Best Month to Buy a Car?

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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If you’ve spotted a used car at a good price but with high mileage, you might be wondering ‘is 100k miles a lot for a used car?’ The answer to this will vary depending on several factors. Read on to learn more.

Is 100k miles too much for a used car?

Is a high mileage car worth buying?

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There are many factors that impact the cost of a used vehicle. With mileage amongst the most important, we question how much a used car is worth with low mileage.

What is car mileage and why does it matter?

How does mileage impact a car’s selling price?

Are there any downsides to a low mileage vehicle?

Financing your car

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