What is everyones thoughts on buying a high milage vehicle (8-10 yr with 190,000 ml)?
As Long As You’re Not Doing Something Illegal, I Don’t Have A Proplem With It. Salvage Yards Do It All The Time.
Do you have a specific vehicle, including make/model/model-year/miles/eng & trans option information, and price to give us ? If so, you could get information that is more helpful.
In my opinion, there are a whole lot of “ifs”.
This might be an okay idea…IF…
…you can verify that the vehicle has been maintained at least as well as the manufacturer specifies. This includes–obviously–oil changes, but also extends to other very vital areas including trans fluid, coolant, and brake fluid changes, and–depending on the design of the vehicle’s engine–timing belt replacement.
…this will not be a “daily driver” or your only car.
…you have enough money budgeted for the inevitable repairs that will be necessary on an ongoing basis.
IMHO, unless you can answer “yes” to all 3 questions, I would recommend against it.
Looking at 2 trucks… a friend owns one. 2000 Chevy 2500 4x4 with the towing package. 195000 ml. I know he has maintained it well but he has also pulled a 5th wheel camper a lot & used it for work where it has idled a lot… $5500
The other is from a classified… 2004 Chevy 1500 4x4 with 190000. I don’t know this person but he claims the first 125000 ml were all “highway” miles & he has put the remaining as a daily driver. $10000
You need to tell us a lot more about these trucks if you want a price check. What model, what engine, what cab type, and what options are on them? For instance, if the 2500 is a regular cab LS with auto transmission, it is worth about $3000. But even a 2500 HD LT extended cab is only worth about $4500. You should definitely get either checked out by a good mechanic before you make an offer. Just be prepared to offer about half what they are asking for them.
On one hand trucks are perhaps “heavy duty” compared to cars and might handle high mileage better. Yet again truck number 1 has done a lot of towing and that means the differential fluids should have been changed like every 30K miles which just isn’t likely. The other truck, who knows what of those miles were “highway” and which were towing, etc. If you are looking for a backup vehicle for 3 to 5K miles a year these might work. If you plan to drive them 15K miles a year expect some serious repair bills.
The vehicles I’ve seen do the best at 200K miles and up are Ford Crown Vics and Lincoln Town Cars. If you were talking one of these models I’d say go for it. Most trucks at 200K+ miles are pretty much used up.
The 2000 will have a 480le trans and 6.0L motor. This motor should go 300000 plus easy. But a little hard on gas. The 480le trans is a good trans. If you keep the oil changed. The good thing is around here (MI) I see them for sale rebuild for $650 -$950. with a one year warranty. Price is a little high. I would say $4000-$4500.
2004 will have 460le and most likely a 5.3L motor. If its the 4.8 forget it. Price to high. I see them in adds here for $6000 -$7000 everyday. Keep looking.
One more thing if are looking at chevys/ GMC’s anything over 125,000 you need to check the front hubs. On the 4X4’s this is a sealed bearing. That when they go. Easy to change but if have get them from part store there around $200 a side. On line you can get a pair for less that. The trucks with 5.3 should get 19-22 mpg highway depending on gear ratio.
If the vehicle is a special use vehicle for occasional hauling or seasonal summer home use for example, it could work out. Vehicles with a notoriously poor repair history that you want to use as a daily driver, I wouldn’t. Either way, if the trucks were thought to have that much worth left, they wouldn’t be selling them and I would NEVER buy a car/truck that used from a friend I planned to keep for a long time; either one.
You can buy a vehicle with high mileage that still has plenty of life yet…but it’s a crap shoot. I gave my 98 Pathfinder to my daughter when it had about 270k miles on it…She put about 80k miles on it…then her ex-boyfriend bought it and he put at least another 30k…then he graduated from college and bought himself a new vehicle (not sure what he did with the Pathfinder).