When contemplating purchasing a vehicle, one often encounters the consideration of mileage as a crucial factor.
Cars that have surpassed the 100,000-mile mark present an intriguing opportunity for potential buyers. They come with a unique set of advantages and drawbacks that warrant careful consideration.
We delve into the pros and cons of cars over 100,000 miles, offering insights to assist in making an informed decision by weighing the benefits against potential challenges when contemplating the purchase of such cars.
Cars Over 100000 Miles Pros And Cons
Pros
Lower purchase price
High-mileage cars often come with a reduced price tag compared to their lower-mileage counterparts of the same make and model year. This affordability is attractive to budget-conscious buyers.
Buyers often associate higher mileage with a higher likelihood of repairs or component replacements, which can lead to a reduced demand for these cars in the marketplace.
Consequently, sellers tend to price high-mileage cars lower to attract potential buyers, reflecting the perceived risk associated with increased mileage.
This reduced price serves as an incentive for buyers who may prioritize affordability or are willing to take on potential maintenance or repair costs in exchange for a lower upfront expense.
However, it’s important to note that the relationship between mileage and price can vary based on several factors such as the car’s make, model, overall condition, maintenance history, market demand, and geographic location.
Not all high-mileage cars will be significantly cheaper, and some well-maintained models with extensive service records might still hold relatively higher prices despite their mileage.
Related: French cars pros and cons
Depreciation slows down
The concept of a “depreciation plateau” refers to the phenomenon where the rate of depreciation of a car slows down after it reaches a certain mileage milestone, such as 100,000 miles.
While cars typically experience their steepest depreciation in the early years of ownership, this trend tends to level off as the mileage climbs higher, especially after crossing the 100,000-mile threshold.
For cars over 100,000 miles, the depreciation curve often flattens out because the car has already endured a significant portion of its depreciation.
Buyers considering cars with over 100,000 miles might find that while these cars continue to depreciate, the rate of depreciation tends to stabilize.
This can be advantageous for potential buyers because After reaching this mileage mark, the car might retain its value relatively well compared to the rapid depreciation seen in earlier stages.
This gives buyers a better chance to recoup their investment if they decide to sell the car later.
The slower depreciation rate also makes it easier to predict the car’s approximate worth over time, providing a clearer understanding of the long-term ownership costs.
Also, despite ongoing depreciation, the reduced rate means that the car’s price relative to its perceived value might become more favorable as it ages beyond 100,000 miles.
The exact depreciation pattern can vary widely based on factors such as the specific make and model, maintenance history, overall condition, market demand, and regional differences.
Maintenance records
Older cars with higher mileage might come with comprehensive maintenance records.
This can be advantageous as it provides insights into the car’s service history, allowing buyers to gauge how well the car has been maintained and anticipate potential future maintenance needs.
Maintenance records offer a clear and chronological overview of all the servicing the car has undergone.
This includes regular maintenance tasks such as oil changes, tire rotations, brake replacements, as well as more extensive repairs or part replacements.
Having a well-documented maintenance history also adds value to the car when the current owner decides to sell it.
A comprehensive record demonstrates responsible ownership and upkeep, potentially attracting more discerning buyers and improving resale prospects.
Access to maintenance records is not always guaranteed for all used cars, but when available, they can significantly increase buyer confidence in purchasing a high-mileage car.
Reduced insurance costs
As cars age and accrue mileage, their market value typically decreases.
Insurance companies often base premiums, in part, on the car’s value. High-mileage cars generally have lower market values compared to newer or lower-mileage counterparts, leading to potentially lower insurance premiums.
Older cars with higher mileage are also perceived as having a higher likelihood of wear and potential issues.
However, these cars might have already experienced their most significant depreciation, meaning that insurers face less financial risk compared to insuring newer, more expensive cars.
Owners of high-mileage cars also opt for lower levels of comprehensive and collision coverage due to the decreased value of the car, leading to lower insurance premiums.
Reliability and proven durability
Some cars, especially certain makes and models known for reliability, have a track record of enduring well beyond 100,000 miles with proper maintenance.
They have proven their durability by consistently performing reliably even as the odometer reading climbs higher.
Models with a reputation for reliability can provide peace of mind to buyers.
Cars known for their reliability even at higher mileage also save owners money in the long run. While maintenance is still required, reliable cars may have fewer unexpected breakdowns or major issues, reducing repair costs and providing a more predictable ownership experience.
Some cars, especially those well-maintained and from reputable brands, continue to function admirably even beyond 100,000 miles.
They may still deliver adequate performance, fuel efficiency, and overall functionality for daily use.
Cons
Transmission problems
When cars surpass 100,000 miles, one of the common drawbacks that emerge is potential transmission issues.
Transmission problems often arise as a car hits this mileage milestone, presenting signs such as difficulty in smoothly shifting gears.
Car manufacturers advise owners to be well-versed in their car’s specific requirements, particularly concerning transmission fluid changes. Different types of transmissions—manual or automatic—may necessitate varying intervals for transmission fluid changes, even before reaching the 100,000-mile mark.
While many newer cars might recommend a transmission oil change around the 100,000-mile mark, car owners need to understand their car’s specific needs.
This knowledge helps in avoiding sudden transmission failures and ensuring optimal transmission performance.
Interestingly, automakers also caution against unnecessary transmission oil changes for high-mileage cars that continue to operate smoothly beyond the 100,000-mile threshold.
In such cases where there are no evident transmission issues, undertaking an oil change might pose unnecessary risks.
If the car is still functioning efficiently with its original transmission oil, experts often advise refraining from altering it unnecessarily.
Additionally, recognizing the signs indicating a failing transmission is important. Regardless of mileage, symptoms such as gear-switching problems, burning odors, fluid leaks, or unusual sounds require prompt attention and potential replacement to avoid significant issues.
Related: Push-Button Start Cars pros and cons
Problems with the timing belt
When cars surpass 100,000 miles, another issue that may arise is related to the timing belt. This belt, important for synchronizing a car’s internal moving parts, sometimes needs replacement depending on the car type and manufacturer’s recommendations.
Typically, timing belt problems tend to emerge between 60,000 to 100,000 miles.
However, it’s important to note that certain car models utilize a timing chain instead of a belt, and this chain, made of metal, tends to be more durable compared to rubber belts.
A timing belt malfunction can lead to issues such as an incorrect air-fuel mixture in the engine’s combustion chamber or a loss of power due to mistimed valve openings and closures.
Leaks of the water pump
The longevity of a car’s water pump can vary, lasting over 15 years without replacement in some cases, but it’s not unusual to encounter minor issues over time.
Typically positioned deep within a car’s engine bay, the water pump is vital for engine temperature regulation.
Its primary function involves circulating water from the radiator to the engine and back, ensuring the engine operates optimally irrespective of external temperatures.
When a water pump develops leaks or weakens over time, it can result in engine overheating.
Water pump leaks may occur due to diverse factors influenced by the car model, owner’s driving habits, or prevailing weather conditions. In certain instances, a replacement might become necessary.
Quick burning of the engine oil
As a car racks up high mileage, it’s common for it to consume oil more rapidly. This increased oil consumption is primarily due to wear on the piston rings, important for sealing the combustion gases within the engine.
Oil loss can also be due to worn-out valve seals. Worn-out valve seals can disrupt the normal regulation of oil consumption and proper lubrication of valves.
This malfunction can result in oil leaks into the engine cylinder, increasing oil loss.
Another contributing factor to oil loss is a malfunctioning Positive Crankcase Ventilation (PCV) system.
Responsible for expelling harmful gases formed during combustion, a faulty PCV can lead to oil being sucked into the system instead of removing these gases.
Brake and tire problems
Before your car clocks 100,000 miles, you may have already gone through several brake pads and tire replacements. However, as the mileage climbs, these parts typically require replacement once more.
Brake pads play a vital role in slowing down your car by pressing against the rotors when the brake pedal is engaged.
Concerning tires, regular rotation can extend their lifespan, but high-mileage usage can still lead to tire problems.
If replacing tires, replace all four simultaneously. However, if purchasing four tires at once isn’t feasible, replacing two is a viable option.
Proper maintenance and timely replacements of brake pads and tires are important for ensuring your car’s safety and optimal performance, especially as the car surpasses the 100,000-mile mark.
Do cars Over 100,000 Miles Hold Their Value?
Cars that have surpassed 100,000 miles generally experience a noticeable decline in their resale value compared to lower-mileage counterparts. Various factors, including the car’s make, model, maintenance history, and overall condition, contribute to determining the actual resale value.
Takeaway
In essence, determining whether a high-mileage car is better for you depends on your specific needs, budget, and willingness to take on potential maintenance or repair costs.
A well-maintained car with a comprehensive service history and known reliability might offer great value and performance even after exceeding 100,000 miles.
Therefore consider both the advantages and disadvantages of a car over 100,000 and what aligns with your needs.