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

Buying a High Mileage Car - Is it a Bad Idea

Things to Consider When Buying a Car with High Mileage

You may see your dream car or truck on a used car lot in great condition. But is this used car or truck really in good condition, though? After a quick look at the odometer, you’re not so sure anymore. Surprise, the used car 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 tens of thousands of miles on the odometer and whether your car insurance provider will mind.

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

What are Factors That Affect a Car With Several Miles on its Odometer?

When it comes to deciding if buying a high mileage car is worth your money or if it’s better to go for something with lower mileage, these are factors you’d want to take into account:

1. How Well the Used Car Has Been Maintained by Previous Owners

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 even more mileage out of your vehicle, be it a GMC, Toyota, Chevrolet, Hyundai, Kia, or any other automobile manufacturer used car or truck. 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 used 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.

2. State Laws on Used Cars and Vehicle History

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 serious car accident, it’s the same as if you discovered something was wrong with your used car after buying it. In both situations, you may have found that purchasing a vehicle with high mileage is not a good idea and should have gone for a lower mileage car.

To avoid surprise you may want to resort to vehicle history reports, such as those from Carfax, as they are one of the best ways to learn about a given vehicle’s history.

3. Current Condition of the High Mileage Car

Check things like the brakes and suspension before even thinking about buying a high mileage car or truck.

How Much do High-Mileage Cars Cost?

If you buy a high mileage car with over 100,000 miles on it, the lengthy and factory warranties of the vehicle will have long expired by the time you take ownership of the car, which means you’ll be paying more for the overall maintenance of your used car.

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 and maintained the vehicle.

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

Are you getting the right car insurance 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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