Buying high mileage vehicles. Why?

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Many people want low mileage vehicles and many are willing to take the gamble on high mileage cars (100,000 +).
If you gamble why do you do it?
Nicer vehicle for the money?
Hate car payments?
I fix my own vehicles?
Vehicles are more reliable today?
Etc....
 
There is virtually no depreciation between a vehicle with 200k miles going to 300k miles. Those last 100k to 150k miles are very cheap to own as long as the repair costs don't add up. People are still scared of vehicles with over 120k to 150k miles on them. They get rid of them even though they are running great. There is still a lot of life left in them and they don't cost much. Excepting European cars, which are real bargains to buy but not to repair.
 
depends....
high-mileage in short time... Maybe.
Example: About a year ago , in my quest for wagons, i found 2 VW Jetta Wagons Diesels with 200k and 189k miles, highway only, former sales people cars, all maintenance done on the clock...

I know a dealer specialized in getting higher mileage (120k+ miles) in good shape vehicles from auctions.
There is a market for that.

What I learned with my 64k, 10 years old Yaris, is in some dealers/insurance eyes old or high-mileage does not value much....
 
The best car I ever owned was my first 528e. I bought it with 149.5 K miles and put on another 200K. I bought 2 more with over 150 K on them again nothing bad ever happened. Puhleeze dont expect this from a newer BMW
grin2.gif
 
I got a black on black 911 that I can beat on and not feel guilty for under $15k...

My Phaeton stickered for $88k, I got it for $8k.
 
Last year I bought a 2004 Honda CR-V that had 155k miles on it at the time. I needed something cheap that I could pay cash for, and I got it for $3,900. It should easily go another 100k miles with few minor repairs, which I can do myself. I already replaced front and rear brakes, spark plugs, replaced lower radiator hose, changed all fluids, and replaced a vibration damper on the rear differential. I also bought a set of used winter tires and wheels and upgraded the stereo. So far I spent about $5k total. It needs a new exhaust, which I'll replace this spring, which will be another $400 or so. I don't anticipate any other repairs for a long while. This to me is way more preferable than paying over $300/month for a new car that accomplishes the same thing.
 
Here in the West we have miles and miles where you are out in the middle of nowhere (even no cell phone service).

This is an example-but I could have picked others in the Dakotas, Wyoming, Utah etc. I see most of you who replied thus far-really have no "middle of no where".


Consequently-I don't keep a car much past 100,000 miles.....

http://unusualplaces.org/u-s-route-50-americas-loneliest-road/
 
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For BMW, Audi or Mercedes, you can get a 3 year old vehicle with 50k miles for less than 50% of the original selling price. So if you can do the maintenance yourself, these can be a very good deal.
 
Originally Posted By: Leo99
There is virtually no depreciation between a vehicle with 200k miles going to 300k miles. Those last 100k to 150k miles are very cheap to own as long as the repair costs don't add up. People are still scared of vehicles with over 120k to 150k miles on them. They get rid of them even though they are running great. There is still a lot of life left in them and they don't cost much. Excepting European cars, which are real bargains to buy but not to repair.


This +1 million
laugh.gif


I am in the same boat of 200K-300K one.
 
Bought my '01 Suburban 5.3 LT loaded options for $2250 @ 195K miles in Dallas everything worked A/C and all !!!

Now @ 250K it still running strong, FAST acceleration and power options work except driver seat (foam is collapsed)


Have about $1K total invested over last 3 1/2 years ownership, Just basic [censored] tires, shocks, battery, brakes....etc


Just picked up a loaded all option'08 Crown vic SAP FBI car with 180K miles for $1800 needed brakes/rotors, new tires thats really all.
rest was preventive maintenance.......ALL fluids/Filters changed

IMO high miles dont really matter on certain cars. A chrysler or KIA hmmmmm ????

Dave
 
I have owned approximately 20 vehicles in my life, and of all of them, only 1 was purchased new.

1 was a 'freebie' because it didn't run at the time I got it, and another was a gift from my parents when I graduated high school (a 1984 Cavalier). The rest were purchased by me. Many were under 100,000 miles, but many more were higher mileage, including my current 2010 Fusion, which is now just about to hit 252,000 miles. I have had very good 'luck' with these cars.

The trick, as with any used purchase is due diligence - Inspect the car thoroughly, take it for an extended test drive, look up the carfax, etc.. until you have a good feel for the car's condition, history, etc.. If you do this, then the car is less of a 'gamble' and more of an 'informed risk', and IMHO, a low risk.

In my opinion, one can find some terrific deals by doing this. I got my 2010 Fusion in 2014 for less than $6000. There was a noticeable whine, but I did my research and found that the belt tensioner pulleys on these engines are prone to wearing out and making that noise. $45 on a new part and 90 minutes of work in my driveway, and it was fixed.
 
For me I stick to high mileage vehicles I know and trust. Ones that have good maintenance records are a huge plus. For example my daily driver 4Runner was purchased from the original owner at 255,150 miles with a STACK of repair invoices from the dealership since new. Every wiper blade, oil change, tire rotation, brake job, battery replacement literally everything was done by the dealership. It helps that I'm exceptionally familiar with the 1984-1989 4Runners (mine is an 87) and 1984-1995 Pickups also I have a ton of spare parts for them. I paid $3800 for my 4Runner 7 years ago and have put 80,000 miles on it. It's been on multiple 3,000+ mile road trips, been exploring deep into the woods a few days walk from help without issue. If I could buy a dozen as nice as this truck for the same money in the same condition with even 300,000 miles I'd buy every one.

The best part is I don't need a $5,000 computer and tons of specialized tools to work on it.
 
Originally Posted By: FlyNavyP3
For me I stick to high mileage vehicles I know and trust. Ones that have good maintenance records are a huge plus. For example my daily driver 4Runner was purchased from the original owner at 255,150 miles with a STACK of repair invoices from the dealership since new. Every wiper blade, oil change, tire rotation, brake job, battery replacement literally everything was done by the dealership. It helps that I'm exceptionally familiar with the 1984-1989 4Runners (mine is an 87) and 1984-1995 Pickups also I have a ton of spare parts for them. I paid $3800 for my 4Runner 7 years ago and have put 80,000 miles on it. It's been on multiple 3,000+ mile road trips, been exploring deep into the woods a few days walk from help without issue. If I could buy a dozen as nice as this truck for the same money in the same condition with even 300,000 miles I'd buy every one.

The best part is I don't need a $5,000 computer and tons of specialized tools to work on it.


$3800 for that thing seems exceptionally cheap. I imagine you could get at least that back out of it now.
 
I think it is far safer to buy a car based on condition, rather than mileage or age. If you are observant and familiar with wrenching on cars or that model specifically, you will be able to determine the actual condition.

It keeps you safe from rolled back and damaged vehicles. My friend almost got scammed with a car that was rolled back, I remember it was in believable condition for the mileage, but had an extra 75000 kms on it.
 
If I buy used, they are a few years old with under 100,000km. No rust, and still reliable enough for me to not worry about reliability going on a long trip.
 
Originally Posted By: dlundblad
I don't want a payment and I can fix the issues myself when they arise.


+1; because why spend a lot of $$ on a depreciating asset.

Quote:

My Phaeton stickered for $88k, I got it for $8k.


What about the other $12K to get it running?
 
Originally Posted By: simple_gifts
Originally Posted By: dlundblad
I don't want a payment and I can fix the issues myself when they arise.


+1; because why spend a lot of $$ on a depreciating asset.

Quote:

My Phaeton stickered for $88k, I got it for $8k.


What about the other $12K to get it running?
 
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