As the chip shortage and resulting car supply drought rage on, even supposed high-mileage used cars are selling for way more money than they did before. According to Edmunds data, dealer-sold used cars with anywhere between 100,000 and 109,999 miles on the odometer exchanged hands for an average of $16,489 in June 2021, higher than the figure has ever been before.In contrast, the average transaction price for a car of this mileage was $12,626 the same time last year, a year-to-year jump of 31 percent. Despite the significantly higher prices, people are still buying them and buying them at a more rapid pace. While 100,000-mile cars sat on the lot for an average of 37.7 days in June 2020, dealers only had to wait 30.5 days before getting rid of them last month.
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