CNN BUSINESS | Old cars with more than 100,000 miles are worth real money now

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.

That hasn’t really been true for decades, but it’s especially wrong now. 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. That superheated market is pushing prices higher, even for cars and trucks with six-digit mileage.

Historically, even when used car prices have risen overall, the prices on cars past the 100,000- mile mark haven’t budged as much. But that’s definitely not the case this year.  —read more—