New York (CNN Business) A lot of people still think that, once a car has been driven more than 100,000 miles, there's not much value left in it. Used car prices have been driven to extremes recently thanks to a combination of demand from consumers wary of taking public transportation and a major shortage in the computer chips needed to make new cars . Historically, even when used car prices have risen overall, the prices on cars past the 100,000- mile mark haven't budged as much. Last summer, the average used vehicle with between 100,000 and 110,000 miles on its odometer was worth about $12,700, according to Edmunds.com. So a well-maintained vehicle with just over 100,000 miles should have plenty of usable life remaining.

Source: CNN July 16, 2021 16:30 UTC