When shopping for a used vehicle, mileage is one of the first things many buyers look at. It's easy to assume that a vehicle with fewer kilometres is automatically the better choice, but that's not always the case.

 

A high-mileage vehicle can offer excellent value when it has been properly maintained. On the other hand, higher mileage can also mean increased wear and the possibility of upcoming maintenance expenses.

 

So, are high-mileage vehicles worth buying?

 

The answer depends on the specific vehicle, its condition, maintenance history, and price. Here's what you should know before buying a high-mileage used vehicle.

There's no single number that officially makes a vehicle "high mileage."

 

However, vehicles with significantly more kilometres than average for their age are generally considered high mileage. For many modern vehicles, reaching 200,000 kilometres isn't necessarily a sign that the vehicle is at the end of its life.

 

A well-maintained vehicle with 180,000 kilometres may be a better purchase than a neglected vehicle with 100,000 kilometres.

 

That's why mileage should be considered alongside the vehicle's overall condition and history.

1. Lower Purchase Price

One of the biggest advantages of buying a high-mileage vehicle is the potentially lower purchase price.

 

Vehicles with higher kilometres typically cost less than comparable vehicles with lower mileage. This can make them attractive to buyers working with a tighter budget.

 

A lower purchase price may also mean a smaller amount to finance, depending on the vehicle and your financing situation.

 

2. More Vehicle for Your Money

Buying a high-mileage vehicle can sometimes allow you to afford a higher trim level or larger vehicle than you could with a low-mileage example.

 

For example, your budget might get you a higher-end SUV with more kilometres rather than a basic model with significantly fewer kilometres.

 

If the vehicle has been properly maintained, that trade-off can make financial sense.

 

3. Slower Depreciation

New vehicles typically experience their fastest depreciation during the first few years of ownership.

 

A high-mileage used vehicle has already experienced much of its initial depreciation. As a result, you may lose less money to depreciation compared with buying a newer vehicle.

This can be especially useful if you're planning to keep the vehicle for several years.

 

4. Maintenance History Can Tell You a Lot

A high-mileage vehicle that has been consistently maintained can be a much more appealing purchase.

 

Service records can show whether important maintenance has been completed and whether previous owners took care of the vehicle.

 

In some cases, a higher-mileage vehicle with a detailed maintenance history can provide more confidence than a lower-mileage vehicle with an unknown history.

1. Potentially Higher Maintenance Costs

As vehicles accumulate kilometres, components naturally experience more wear.

Depending on the vehicle's age and condition, you may eventually need to replace items such as:

• Brakes
• Suspension components
• Tires
• Belts
• Batteries
• Wheel bearings
• Other wear items

This doesn't mean every high-mileage vehicle will require major repairs, but buyers should budget for routine maintenance and potential repairs.

 

2. Fewer Financing Options May Be Available

Vehicle age and mileage can affect financing.

 

Some lenders have restrictions regarding the age or mileage of vehicles they will finance. This means a high-mileage vehicle may have different financing requirements than a newer used vehicle.

 

At MyLoan, we work with a network of banks and lenders and help customers explore financing options based on their individual situations and the vehicle they're purchasing.

 

3. More Wear and Tear

Higher mileage generally means a vehicle has spent more time on the road.

Before buying, pay attention to:

• Interior wear
• Tire condition
• Brake condition
• Suspension
• Engine performance
• Transmission performance
• Exterior condition

A thorough inspection can help identify potential issues before you make a purchase.

 

4. Resale Value May Be Lower

If you're planning to sell the vehicle in the future, additional kilometres can affect its resale or trade-in value.

 

That isn't necessarily a major concern if you plan to keep the vehicle for many years, but it's worth considering when comparing different used vehicles.

Not necessarily.

 

Modern vehicles can last a long time when they're properly maintained. The manufacturer's maintenance schedule, driving conditions, previous ownership, and service history can all have a significant impact on longevity.

 

For example, a vehicle that has accumulated kilometres primarily through highway driving may have experienced different wear than one driven mostly through heavy city traffic.

The key is to look at the entire vehicle rather than judging it solely by the number on the odometer.

If you're considering a high-mileage used vehicle, take the time to investigate its history and condition.

 

Look for:

• Maintenance records
• Vehicle history reports
• Accident history
• Previous ownership
• Tire condition
• Brake condition
• Signs of rust
• Warning lights
• Fluid leaks
• Overall mechanical condition

You should also take the vehicle for a test drive and ask questions about its maintenance history.

A high-mileage vehicle can be a smart purchase if the price, condition, and maintenance history make sense.

 

The most important thing is to avoid focusing on mileage alone.

A well-maintained vehicle with higher kilometres can provide reliable transportation at a lower purchase price, while a poorly maintained low-mileage vehicle could create unexpected expenses.

 

Think about the vehicle's complete history, current condition, expected maintenance, and how well it fits your budget.

If you're interested in a high-mileage vehicle, financing may still be an option.

 

At MyLoan, we work with a network of banks and lenders to help customers across a wide range of credit situations explore financing options.

 

Whether you have excellent credit, bad credit, no credit, or you're rebuilding your credit, our team can help you understand the financing options that may be available for your situation.

Because lenders can have different requirements for vehicle age and mileage, having access to multiple lenders can give you more opportunities to find a suitable financing solution.

Is it bad to buy a high-mileage vehicle?

No. High mileage doesn't automatically mean a vehicle is unreliable. Maintenance history, condition, age, and the specific make and model are all important factors.

 

How many kilometres is too many for a used car?

There isn't a universal mileage limit. Some well-maintained modern vehicles can reach 200,000 kilometres and beyond. The vehicle's condition and maintenance history are often more important than mileage alone.

 

Are high-mileage vehicles cheaper to insure?

Not necessarily. Insurance premiums depend on several factors, including the vehicle, driver, location, coverage, and insurance provider. A lower purchase price doesn't automatically mean lower insurance costs.

 

Can you finance a high-mileage vehicle?

Yes, although financing availability can vary depending on the vehicle's age, mileage, price, and the lender's requirements. MyLoan works with multiple lenders to help customers explore their options.

Buying a high-mileage vehicle isn't automatically a bad decision. In the right circumstances, it can be an affordable way to get behind the wheel of a reliable used vehicle while keeping your purchase price under control.

 

The key is doing your research, reviewing the vehicle's history, considering its condition, and making sure the purchase fits comfortably within your budget.

 

At MyLoan, we have over 250 vehicles in stock at all times, giving you plenty of options across different price points, model years, mileage ranges, and vehicle types.

 

If you're ready to start shopping, browse our inventory and explore your options. You can also use our free online pre-qualification tool to explore financing with a soft credit check that won't affect your credit score.

 

Whether you're looking for a low-mileage vehicle or a high-mileage option that offers excellent value, MyLoan can help you find a vehicle and financing solution that fits your needs.