Age and Mileage: Important Considerations When Buying a Van
Commercial vans are workhorses, designed to last a long time and drive significantly more mileage than cars. However, eventually, they will reach the end of their useful life. When purchasing a van, it is crucial to consider the age and mileage of the vehicle. In this article, we will discuss the importance of these factors and provide tips on finding the best value for your money.
Expected Lifetime Mileage and Retirement Age
According to a European Commission report, the expected lifetime mileage for a commercial van is 224,000 km (139,000 miles). The average age of retirement for a commercial van is 13 years. However, many vans can outlive these statistics, with some individuals purchasing vans with mileage way above the mentioned figures.
In a 2023 study by TheVanConversion.com, it was found that the most common year of the vehicle was a 2015 registration, meaning that on average, people are using vans that are 8 years old.
Age and Cost Correlation
The 2023 study also provided insights into the correlation between the age of a vehicle and its cost. A work van's value decreases by about €2000 per year, with vans two years old or less being significantly more expensive. The best value may be found around the three-year mark.
Mileage and Cost Correlation
There is also a correlation between the odometer reading and the cost of the vehicle. The sweet spot for the best value for money is at 30,000 km (19,000 miles), where the cost drops dramatically.
Age, Mileage, and Vehicle Usage
The study examined the relationship between the vehicle's age and its odometer reading. While the correlation is quite spread out, it is one of the most useful datasets available. The average work van clocks up 13,940 km (8,660 miles) per year. Therefore, it is advisable to look for a vehicle with a lower mileage per year than this, indicating that the van has not been overworked. Anything below 18,000 km (11,000 miles) per year is considered reasonable mileage.
In Summary
When purchasing a van, consider the following guidelines:
- Buy a van older than 3 years.
- Buy a van with more than 19,000 miles on the clock.
- Buy a van with less than 11,000 miles per year put on the clock.
In Europe, a second-hand van will typically cost around €9k, while in the USA, it will be slightly more expensive. By considering the age and mileage of a van, you can ensure that you are getting the best value for your money and a vehicle that will last for years to come.