High Mileage Worse Than Accident Damage, Reports CarMax
RICHMOND, VA - Americans see mileage as the main factor causing vehicle value depreciation, according to an online survey conducted for CarMax, Inc. Frame damage and not keeping up with regular maintenance were other major factors, according to the survey. Additionally, women were more likely than men to say failing to keep up with regular maintenance leads to vehicle depreciation.
The following poll results reflect adults' perception of the biggest depreciation factor of a car's value:
- Vehicle Mileage 33%
- Accident or Frame Damage 24%
- Keeping Up with Regular Maintenance 22%
- Current Market Data 12%
- Flood Damage 7%
- Title Issues 2%
While mileage is one of the biggest causes of vehicle depreciation, regular car maintenance can significantly lessen the depreciation, according to the CarMax.
The survey was conducted nationwide by Ipsos Public Affairs on behalf of CarMax and interviewed more than 1,000 U.S. adults online June 11-15, 2009.
For more information, visit the CarMax Web site at www.carmax.com.