Science
New Study Highlights Consumer Bias in Used Car Pricing Related to Odometer Readings
Research from the McCombs School of Business reveals that consumers may be paying more for used cars with odometer readings just below 10,000-mile increments, suggesting a psychological bias.
Editorial Staff
1 min read
Updated 14 days ago
A recent study conducted by the McCombs School of Business at The University of Texas at Austin has uncovered a notable trend in used car pricing.
The research indicates that consumers tend to pay a premium for vehicles with odometer readings that fall just under multiples of 10,000 miles.
This behavior may reflect a psychological bias influencing buyers during the car shopping process.