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Monday, October 26, 2026Updated 23:19 UTC

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Why do people overpay for used cars with mileage just below round numbers?

Source: Times of India · Oct 26, 2026 11:11 UTC

Historic brick public library in Vinton, Iowa — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

A recent study showed that used car dealers profit from mileage readings just under round-number thresholds. The researchers analyzed millions of transactions to determine pricing impacts of left-digit bias. Buyers often overlook minor differences in mileage, focusing instead on the first digit. This inattention allows dealers to charge more for cars that appear to be better value.

Read the full story at Times of India

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