Pros and Cons of buying a high mileage car. Buying a car is a significant investment, and when considering a high mileage car, there are several pros and cons to take into account. High mileage cars are defined as vehicles with more than 100,000 miles on the odometer, and while these vehicles can often be purchased at a lower cost, they come with a different set of considerations compared to their lower mileage counterparts.
- Lower Cost: The most attractive benefit of buying a high mileage car is its lower cost compared to newer vehicles. With the car having already covered a significant number of miles, it can be purchased at a more affordable price, making it an attractive option for those on a tight budget.
- Proven Reliability: A car with high mileage can also be a good indicator of its reliability. If a car has been driven consistently for many years and has made it to such a high mileage, it can be seen as a sign that the vehicle has held up well over time and is likely to continue doing so.
- Higher Maintenance Costs: However, with increased mileage also comes increased wear and tear, which can result in higher maintenance and repair costs. It’s essential to take these costs into account when considering a high mileage car.
- Increased Likelihood of Breakdowns: The longer a car has been driven, the more likely it is to experience mechanical problems. While routine maintenance can help minimize the risk of breakdowns, a high mileage car is still more likely to experience problems compared to a newer vehicle.
- Reduced Resale Value: Finally, it’s important to consider the resale value of a high mileage car. As these vehicles are older and have covered more miles, their resale value is generally lower
The question both flipper and buyer should be asking is ”what’s the condition and the price” and not ”what’s the age and mileage”.