Getting a secondhand car comes with a lot of other considerations that you wouldn’t have with a new car. Part of that is the mileage. A lot of prospective buyers tend to look for used cars with lower mileage. Lower mileage implies less wear and tear, so buyers are more likely to lean into these cars. However, cars with high mileage aren’t bad. Just like any other car, they have their own pros and cons.
Let’s get into the benefits and disadvantages of getting a high mileage car.
Cars with higher mileage can save you money. Higher mileage means more wear and tear, which usually means that they’ll cost less than new cars or secondhand cars with less miles.
Depreciation is the amount of money a car loses over its lifetime. But when you get a new car, the depreciation is much higher at the beginning of its life than it is towards the end. This means that high mileage cars depreciate at a lower rate than newer models. Therefore, if you’re looking for a car that doesn’t lose value as easily, a car with higher mileage is better.
Cars are lasting longer.
According to industry research, modern cars have higher levels of longevity than cars of the past. Therefore, a car with high mileage doesn’t necessarily mean there will be more breakdowns and maintenance costs. It all depends on the durability of the car and how well it’s been maintained.
Miss out on newer car model features
Newer car models will have newer tech and safety features that are attractive to customers. But when you buy a high mileage vehicle, there’s the underlying assumption that it’s an older car. Therefore, you won’t have the same features that a newer car model might have.
With higher mileage usually comes more wear and tear. This means that you might end up spending more on routine services to keep your car in prime operating condition. Plus, you might also end up paying above standard maintenance for costly and complicated repairs.
Harder to secure car finance.
Mileage matters when purchasing a car on finance. Once you go over 100,000 miles, lenders are hesitant to provide funding. So, you might end up getting stuck with a lousy deal that costs you more money long-term.
Getting a high mileage car can be a risk. Although it’s initially cheaper, you may end up paying more in maintenance costs. However, lucky for you, CARRO offers a plethora of used cars that all go through a rigorous 150-point inspection check and come with a 6-month engine and gearbox warranty.
So, why buy anywhere else when you can buy with CARRO? Browse through our list of cars here.
Buy with CARRO today!