Can you finance a high mileage vehicle?

How many miles is too many miles on a car?

How Many Miles On A Car Is Too Many? How many miles on a car is bad? As a general rule, most vehicles begin to seriously degrade at around 150,000 miles. It is considered rare, and therefore outstanding longevity, if a car reaches 200,000 miles on the road.

How do you deal with a car with high mileage?

What do banks consider high mileage?

You want to buy a high-mileage car: If you’re buying an inexpensive car with high mileage, it might be hard to get a loan. Many lenders have limits on car mileage. For example, CarFinance requires vehicles to have less than 100,000 miles for a borrower to be eligible for a loan.

Is 300k miles on a car a lot?

Most Mileage Car FAQ

It is extremely unusual for cars to last over 500,000 miles (804,672 kilometers). It’s less unusual for cars to go over 300,000 miles (482,803 kilometers) without encountering major repairs though.

Is 90 000 miles too much?

What’s the Big Deal About 90,000 Miles? The big deal about 90,000 miles is that it’s a lot. That’s a lot of wear and tear on a car that may not have had the chance to be properly maintained by previous owners. This can lead to more expensive repairs down the road as your car ages.

Is 160k a lot of miles on a car?

A vehicle should have 10,000 miles put on it per year on average so any vehicle with less than 10,000 x Years = X is considered low mileage. Another standard of mileage is a car with over 100,000 miles is considered high mileage.

At what mileage do cars start having problems?

It’s a fact that as your car ages and the miles start to pile up that it will break down. Chances are, if you stay on top of your maintaince you will be fine up until around 150-200k miles or so, but after that, major issues can and will happen at will.

Can a car last 500000 miles?

Depending on how well you treat your car, you could potentially reach over 500,000 miles. In fact, there’s a driver whose car reached even more than that.

How many miles should a 7 year old car have?

Seeing as the average driver covers about 12,000 miles a year, you’ll want to see the following: About 60,000 miles on a 5-year-old car. About 84,000 miles on a 7-year-old car. About 108,000 miles on a 9-year-old car.

What age is best to buy used car?

In retaining “like new” quality and inheriting a slower depreciation rate, the best used car age for buying is 2-3 years. In fact, Americans are saving up to $14,000 on a 3-year-old vehicle. For example, a car that may have cost you $30,000 when new would cost around $16,000 after just 3 years.

Is mileage more important than age?

While it’s a good idea to consider the age of a vehicle and the number on its odometer, it’s more important to look at how well the owner maintained the car. A 10-year-old car with 100,000 miles may have received more TLC than a five-year-old model with 50,000 miles.

How many years should you keep a car?

We know these safety features help save lives. As someone who values your life and the life of your passengers, you should probably get a new car every 8-10 years.

What is the 1/10th rule?

“The 1/10th rule of car buying states that you shouldn’t spend more than 1/10th of your gross annual income on a vehicle. For example, if you make $80,000, you should only spend $8,000 on a car. However, many car buyers don’t follow this rule.

How often should you replace your car?

With regular maintenance using quality parts and lubricants, a modern vehicle should easily last between 300,000 and 500,000 miles (500,000 – 800,000 km).

How long does the average person keep the same car?

Americans own their longest-kept cars for an average of about 8 years. In our sample, 64% have only owned their current cars for 5 years or less. 80% of Americans considered cost before buying a new car. Top factors that Americans consider before purchasing a new car are cost, fuel economy, maintenance and performance.

What car do owners keep the longest?