Calculating Your Expected Mileage
You’ll have to calculate how many kilometres you intend to travel in your car, over the course of the contract period, before you can sign the lease.
The lease will quote a repayment rate based on a fairly low mileage rate. As the contract will hold you to not exceed this distance, it’s better to calculate and incorporate the correct mileage into the financing plan in the first place.
To work out your daily or weekly average, just keep an eye on your odometer for the drives you’re making now, and then multiply that average across the duration of your leasing contract.
Even short commutes can push your mileage up, so it’s important to make an effort to calculate your distance. Don’t just assume your car usage will stay below the mileage caps.
How Does Mileage Affect the Value of Your Hyundai Car?
Mileage is one of the biggest factors in determining the resale price of a used car. Assuming the car isn’t already old, lower mileage means it’s more likely to still be in good condition.
Of course, a car with high mileage that was regularly maintained is going to be less run-down than a neglected one with low mileage. The reality of buying used cars is that you can never be sure of which situation you’re dealing with this time, so it’s best to go with the rule of thumb.
With used cars, lower mileage usually translates to lasting longer until its next owner needs to take the car in for any major servicing. Certainly, because all used car buyers look at the mileage, it’s better to own a car with lower mileage and therefore higher resale value.
The one exception to the mileage rule is old cars, of more than 10 years, that come with low mileage. Cars that haven’t been driven regularly are unlikely to be in good condition. Just like high mileage can wear down the engine, sitting around in a garage for long periods will cause mechanical damage too, from corroded spark wires to brittle rubber hoses.
Financing Your Next Hyundai Car with Phil Gilbert Hyundai
Looking to trade in your old car for a Hyundai? Phil Gilbert Hyundai is a Hyundai car dealership offering financing plans for a wide range of new and used Hyundai models.
Visit us at either of our Croydon and Lidcombe locations in Sydney, for expert advice, servicing and financing. Contact us today and call (02) 9132 4287 for more information.