Is It Okay to Buy a Used Car with High Mileage?

Buying a used car with high mileage can be a financially smart decision, but it requires careful consideration. This article explores the pros and cons, provides tips for assessing a vehicle, and offers actionable advice to help you make the best choice.

The Pros of High Mileage Cars

There are several benefits to purchasing a car with higher mileage:

Low Cost: High-mileage cars are typically less expensive than their low-mileage counterparts, making them a more budget-friendly option. Significant Depreciation: Most of a car's depreciation occurs in the first three to five years. By the time a car has accumulated a high mileage, it may have already lost a significant portion of its value. Potential Reliability: Some models are known for their durability and can perform well even with high mileage if they have been well-maintained.

The Cons of High Mileage Cars

While high-mileage cars can be a good investment, they also come with certain risks:

Increased Wear and Tear: Higher mileage can lead to increased wear on critical components such as the engine, transmission, and suspension. Uncertain Maintenance History: It's crucial to verify the car's maintenance history. Regular oil changes and services indicate better care, but undocumented repairs or neglect can pose challenges. Repairs and Maintenance Costs: Older cars may require more repairs, which can significantly increase the overall cost of ownership.

Tips for Assessing a High-Mileage Car

To ensure you make an informed decision, consider the following tips:

Get a Pre-Purchase Inspection: Always have a trusted mechanic inspect the vehicle. A pre-purchase inspection can cost between $150 to $250 and is worth the investment. Research the Model: Some makes and models are known for their reliability at high mileage. Research the specific make and model to understand its durability. Check Vehicle History: Utilize services like Carfax or AutoCheck to examine the car's history, including its service records and any past accidents.

Signs of High Mileage on a Car

Let's break down how to determine if a car has high mileage:

On average, people drive approximately 15,000 miles per year. Therefore, a car with:

A 5-year-old car with 30,000 miles would be considered a low mileage car. A 5-year-old car with 85,000 miles would be considered a high mileage car, as it has driven 20,000 miles more than the average annual mileage.

However, it's important to keep in mind that all is not lost. For instance, cars owned by rental agencies or those with multiple owners might still be reliable, especially if they received regular and scheduled maintenance.

Additional Tips for Buying a High Mileage Car

When considering whether to buy a high-mileage car, take these additional steps into account:

Request an Independent Pre-Sale Inspection: Arrange for a mechanic to inspect the vehicle. Most dealerships will allow you to have the car inspected by your preferred mechanic. This usually costs between $150 to $250 and takes around an hour to complete. Consider the Condition of the Car: Examine the exterior and interior for signs of excessive wear. Listen to the engine and pay attention to any unusual sounds or performance issues. Check the Car's History: Verify the car's maintenance history using services like Carfax or AutoCheck. A clean record of regular maintenance is a good sign. Take the Car for a Test Drive: Drive the car to get a feel for its performance and any issues that may arise. Check the brakes, transmission, and overall handling.

By taking the time to thoroughly inspect and research the car, you can make a more informed decision about whether to purchase a high-mileage used car.

Conclusion

Buying a high-mileage used car can be a reasonable choice, but it requires due diligence. By understanding the pros and cons, following the tips outlined, and conducting thorough inspections, you can make an informed decision and potentially save money on a reliable vehicle.