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Used cars with mileage just under round figures sell for up to $168 more

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A recent study found that used car dealers earn higher prices for vehicles whose odometer readings sit just below round-number thresholds. Researchers examined millions of transactions to measure how much this pricing effect changes sale values. The explanation offered is that buyers tend to fixate on the leading digit of the mileage and pay little attention to small differences. This oversight lets sellers charge more for cars that seem like better deals. The premium can reach as much as $168 per vehicle.

Read the full story at Times of India

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