Pros and Cons of High Mileage Cars: Is Buying One Right for You

The Common Dilemma

Many people like to spend their money on high-mileage cars because of the distance they can cover for the fuel they put in. They go for classic cars, praising the durability and affordability of well-loved models in the market. However, low-mileage car lovers worry about the maintenance expenses and overall wear and tear that come with continuous use.

Advantages of Purchasing High Mileage Cars

Being Economical

While improved mileage on new model cars points to overuse, excluding an older model based on its odometer could mean you are losing a real bargain. Pre-owned high-mileage cars are more cost-effective on many fronts. The initial value is dramatically reduced, and in a few cases, you will pay less on insurance than you would for a recent or new car. Also, an older car with more miles driven has proven itself to be trustworthy. Frequent lubrication and reduced carbon build-up associated with regular use could be the reason for the performance and therefore, you may incur fewer maintenance charges down the lane.

Depreciation

Depreciation is the value a car loses over its life span. Like all vehicles, high-mileage cars depreciate too. However, they do not do so as fast as newer model cars. Therefore, if you are looking to buy or sell cars for profit, you are more likely to find a well-driven variety that can be profitable and durable.

Classic cars

Unique and rare classic cars are bound to rack up plenty of miles as they are extensively used by their owners. However, they are classic cars and their value depreciates slower, giving you a good buy if you get your hands on them.

Well lubricated engines

High-mileage cars are used extensively and their engines are maintained well for them to have given that kind of mileage to the previous owner. It is therefore an advantage when it comes to purchasing a high-mileage car in the used cars market.

Challenges of Buying High-Mileage Cars

Harder to secure car finance

Mileage and the numbers matter when buying a pre-owned car, especially in finance because once you go over 100,000 kilometers, financiers are hesitant to fund. Consequently, you may get stuck with a not-so-great deal that costs you more money in the long term.

Maintenance costs

Often, provided they have been taken care of, low mileage cars are in better shape and condition, when they are being sold off in the used cars market. As the kilometers go up, you might have to prepare for more meticulous maintenance practices to counterbalance higher levels of wear and tear. After a certain mileage, you may also have to deal with faulty car transmissions, fuel pump failures, and oil leaks. It’s not wrong to say that with a high-mileage car, you might have reliability concerns.

New features

Newer cars come with a wide range of remarkable technology including automatic emergency brakes, high beams, adaptive cruise control, and even heated steering wheels! On the other hand, older high-mileage cars lack safety elements and new gadgets, which could be a deal-breaker for many buyers.

Expert Advice

Getting a good deal on a high-mileage vehicle might be tempting when you are looking to buy a used car that does not cost you much. So much so, that even Consumer Reports has a few recommendations.

A few high mileage cars that can be a good choice when looking to buy used are the Maruti Suzuki Wagon R, Maruti Suzuki Baleno, Maruti Swift, Maruti Brezza, Toyota Avensis, Toyota Prius, Maruti Dzire, Tata Nexon and Maruti Celerio.

Final Thoughts

Today, with all the advancements in services and maintenance of cars, numerous well-maintained high-mileage cars are available in the used cars market. High mileage cars cost relatively low in the market and have slower depreciation when considered to be bought second-hand. Buying a well-maintained mileage car is not a bad idea after all. Also, some cars have a long-standing reputation for being durable and have been loved and bought by people for convenient rides for many miles and kilometers.