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Buying a High Mileage Car - Is it a Bad Idea?

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You may see your dream car on a used car lot in great condition. But is it really, though? After a quick look at the odometer, you’re not so sure anymore. Surprise, it has more than 120,000 miles on it. You want to buy a pre-owned automobile with as few miles as possible. You wonder if it’s wise to acquire a vehicle with ten of thousands of miles on the odometer and whether your insurance provider will mind.

In fact, what your insurer believes or claims is of little importance. What you must persuade yourself of is the idea that it makes sense to acquire a car with such a high number of miles on the odometer. Consider the age of the vehicle and how many owners it’s had before making your purchase decision.

Factors That Affect a Car With Several Miles on its Odometer

The majority of today’s late-model cars are designed to last well beyond 100,000 miles. With good maintenance and care, you may be able to get more out of it. The significance of the vehicle’s age and odometer reading has decreased substantially. It all comes down to how well the car is kept, with that - more than anything else - determining whether purchasing a high-mileage used automobile is or isn’t a good idea.

There’s a reason why vehicle ratings are based on 300,000-mile warranties: it doesn’t matter how nice the automobile looks. Even if you have 200,000 miles on your car, it’s still worth around 300,000. Consider what state the vehicle resides in as state laws regarding old cars vary. If your automobile has a “salvage title” or was in a moderate to a serious accident, it’s the same as if you discovered something was wrong with it after buying it. In both situations, you may have found that purchasing a vehicle with high mileage is not a good idea. Check things like the brakes and suspension before even thinking about buying it.

How Much do High-Mileage Cars Cost?

If you buy a car with over 100,000 miles on it, the lengthy and factory warranties will have long expired by the time you take ownership, which means you’ll be paying more for overall maintenance. The older and the more miles on the car, the more likely it is to have had several owners. And you’ll never know how well each preceding owner treated it.

The pros and cons of purchasing a used vehicle are all up for debate. Some people feel that buying a car with a factory warranty is the best method, while others believe it’s better to save money by limiting your budget. It is entirely up to you.

Ask yourself this: are you getting the right protection from your current car insurance provider at a price best suited for your budget? If the answer is no, you need to reevaluate your current auto insurance situation and call Insurance Navy today. Request your free auto insurance quote online or contact us at 888-949-6289 to speak with a representative.

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