Why Buying a High Mileage Vehicle Can Be a Great Deal

We all want to get the best deal possible when shopping for a new car, but it’s not always easy. Navigating all of the decisions that go into picking the right car and considering all of the factors that can affect pricing is enough to make your head spin. We’re here to make it a little easier by offering an answer for at least one question that leaves a lot of folks stumped: is it better to buy an older car with less mileage or a newer car with more? Ultimately, the answer is going to depend on the buyer and what their goals are, but in most cases, it’s better to purchase a newer car with more mileage over an older car with less mileage. When shopping for used cars for sale, going for that older car may seem like the savvier option, especially when looking at the price tag, but ultimately, what we’re after is value. Here are some reasons why a newer car with high mileage will represent the better value out of the two options.

Longevity

An older car with low mileage is a tempting combination, but there are some things to consider. For starters, you may want to ask yourself why that older car has such a low number on the odometer and what it means. Obviously, the previous owner(s) weren’t driving it a lot, but that doesn’t necessarily fare well for the car’s remaining years. Sitting dormant for long periods of time is not good for vehicles since they require regular use in order to stay in optimum shape. Fluids and seals inside the vehicle are at risk of deteriorating, and if a car that sat for a while was driven without correcting those things, it could have far more wear on the engine than what the odometer suggests.

Where the car has been sitting for those years is another factor to keep in mind. Was it street parked? Did it come from an area with a lot of precipitation or a high UV index? The elements can wreak havoc on a car over time, even if it’s cared for by the most careful of owners. If it came from an area with roads that are frequently snowed on and salted, it’s bound to have some rust. Even if the car was driven somewhere with a sunny forecast, those rays have an effect on the paint over time.

Efficiency

Cars have been trending greener for a while, but with rising gas prices comes a spike in consumer demand for fuel-efficient vehicles. We’ve seen dramatic shifts in the industry over the past few years, with more and more automakers committing to creating a cleaner lineup. There are more options for hybrids, plug-in hybrids, and electric vehicles than ever before, making it easier for eco-conscious drivers to find a vehicle that fits their needs.

Alternative fuel solutions aside, internal combustion engines have gotten more efficient as automakers have striven to improve their fuel economy. For example, Ford introduced their EcoBoost engine line in 2009 as a 1.0-liter three-cylinder, then continued to develop it until the technology was able to power larger vehicles like the F-150, which had an EcoBoost option for the first time in 2015. At the time, the F-150 claimed the best fuel economy of any gasoline-powered, full-sized pickup thanks to its new engine.

Comfort and Technology

If you’re a fan of creature comforts like tech-forward infotainment systems, keyless entry and remote start, and hands-free tailgates, you’ll want to opt for a newer car, as these things have been implemented fairly recently. Sure, it’s possible to find some of these features in older cars—Buick was the first vehicle to have a touchscreen with the 1986 Rivera—but the newer, the better and more intuitive these features will be. Infotainment systems have gotten more user-friendly, and interior technology has made huge leaps in the past several years, making vehicles feel more like a second home than just a method of transport.

Safety

It probably doesn’t come as a surprise that newer cars tend to be safer than older ones, which can be largely credited to the explosion in driver assistance technologies. Like most new car tech, automated safety features were reserved for the luxury segment when they first debuted. Post-2020, we started seeing more automakers, including things like automatic emergency braking and pedestrian detection as standard features across all models. Things like adaptive cruise control and lane keep assist are more commonplace with newer model years, as well. What’s more, this technology has gotten smarter. Even if you do find an older car that has driving assistance technology, it likely won’t be as advanced as what you’d find in a 2022 model.

We already touched a bit on rust, but it isn’t merely a cosmetic issue. Rust, if severe enough, can drastically affect how safe a vehicle is. Once rust makes it through the body and starts eating away at the frame, the vehicle’s structure is compromised, making it less safe in the event of a collision.

Cost

There are a lot of things that go into a vehicle’s pricing, but generally, newer vehicles are going to be more expensive than significantly older ones, even if they have higher mileage. While the older car may seem like the better deal right off the bat, that may no longer be the case if it immediately needs major repairs done or it only drives for a few years due to significant issues with the engine or transmission.

Depreciation

Whenever you buy a new car, depreciation is going to factor into the long-term value of your purchase. Brand-new cars take the biggest hit as far as depreciation goes, as the largest drop in value typically occurs within the first year. Since both mileage and age factor into a vehicle’s depreciation, whether you opt for an older car with less mileage or a newer car with more, you’re still missing the worst of what depreciation does to a car’s value.

A car with over 100,000 miles is considered to be “high mileage.” At the same time, most depreciation occurs within the first 100,000 miles of use. So, purchasing a high-mileage vehicle means skipping most of that severe depreciation. Similarly, after five to six years, a car’s value is, on average, about half of what it was brand new, and depreciation starts to slow down. In summary, both options represent a good value for the buyer as far as depreciation goes.

You Be the Judge

It may seem counterintuitive, but buying a high-mileage vehicle can be a sneaky way to get the most value out of your purchase. A well-maintained vehicle can drive for hundreds of thousands of miles, after all, so even if you buy one with an odometer over 100,000, it can still have years of good life left in it. At the end of the day, though, the best choice of vehicle is going to depend on the person who’s driving it. For some, that older car with some miles on it might be the perfect fit. For others, going without creature comforts and certain technology is a deal breaker. The best thing you can do is evaluate your priorities and make a decision that best suits you.