Should You Buy a Used Car with 500,000 miles on the Odometer?
Have you heard of Irv Gordon? He is a retired science teacher who owns a red 1966 Volvo P1800. He had bought the car for about $4,150 and is driving around in it for nearly 40 years. Recently, Gordon’s car clocked 3 million miles on the odometer (yes, you read that right), and yet, the vehicle runs like a beauty. He just spends $1,000 on maintenance each year and plans to drive the coupe for a few more years.
Now, when you compare a 500,000-mile used car with Gordon’s vehicle, you can say that – sure, you can buy it. But just because Gordon could reach the 3 million mark, it does not mean that you can as well. You have to consider a few factors before looking at 500,000 miles used cars and used trucks in Anderson, SC.
Yes, you can buy a 500,000-mile used car, provided…
The car was well maintained during its previous ownership. The current quality of high-mileage used cars ultimately comes down to its maintenance. A 500,000-mile used car or truck has obviously seen its fair share of wear and tear but if the damages wear repaired immediately and the parts were changed when they were supposed to, the vehicle is bound to survive long. Even when it comes to your ownership, you have to maintain the maintenance routine. Read the owner’s manual, stick to the servicing schedule, check your driving habits, and you can drive a modern used car or truck of a further 500,000 miles.
Look at the cost of ownership
Almost all modern vehicles have a similar cost of ownership for the first 100,000-200,000 miles. The expensive repairs kick in after that. While buying a 500,000-mile used car from any of the top used car dealerships in Anderson, SC, you need to check how expensive will the vehicle be to own every year? For instance, Consumer Reports recently revealed that the cost of ownership of a Ford Ranger is surprisingly low. You need to look at such models while purchasing ultra-high mileage vehicles. But you cannot expect the same from a GMC Sierra or a Nissan Titan. The initial low price of a 500,000-mile vehicle can be intriguing but factoring in the repair expenses is important.
Think about the outdated safety and technology specs
Irv Gordon’s 1966 P1800 naturally does not have any of the latest safety or tech specs and he is fine with it. But you may want your vehicle to have ABS or traction control or even parking assist. Unless you are buying a rental used car, you will run the risk of not having the latest safety features in a 500,000-mile used car. But if the dealership’s inventory is large enough, as is the case in Family Auto, you may find a high-mileage vehicle that is not that old and carries the basic safety and tech features. Plus, Family Auto cars come with a flat warranty of 2 years/36,000 miles. So, even if you are buying a high-mileage vehicle, know that the underlying quality is assured both by the warranty and the dealership’s reputation.
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