Quick Facts About Buying Older, Used Vehicles
When shopping for a used car, you may find a few surprises that will leave you scratching your head.
Americans drive their cars longer than ever. The average age of vehicles on the road today is about 12 years old. With the inventory of used cars still recovering from tighter-than-usual conditions and the average used car listing at $27,156 in November (or about $5,000 more compared to the same timeframe two years ago), you’ll want to know what factors you need to weigh when considering such a purchase.
It’s also important to understand how mileage, age, and condition determine value when looking for a used vehicle.
Read on to find out what to consider when buying a used or older vehicle. We’ll also tell you about the easiest cars to find in this market as you navigate these choppy conditions.
What To Know About Buying a Used Car
These days, many dealerships will take high-mileage vehicles with upwards of 150,000 miles driven. Also, many manufacturers started certifying used cars with higher mileage. Tighter-than-usual inventory means cars once bound for auctions and buy-here, pay-here lots now land in the franchised dealership lot.
When considering a used car, you’ll likely encounter two scenarios, and these can actually happen.
Scenario 1: Let’s say your family needs a second or third vehicle, and you come across an unbelievably low-mileage cream puff. The car looks nearly new, with only 35,000 miles on the odometer, but the SUV is 8 years old. The price is right. You feel like you won the lottery. But you wonder what issues might later materialize because of the vehicle’s age.
Scenario 2: Maybe you’re shopping for a used vehicle offering the latest technology, like adaptive cruise control and cameras that provide a 360-degree view of the surroundings. You can’t afford a 2-year-old model with average miles, but the dealer offers up the car of your dreams that’s thousands less. Still, there’s one problem: This 2-year-old model comes with 100,000 miles. Should you steer clear?
Next, you’ll need to do these two things first to help you decide on either of these cars.
- Research the car model and check for excessive recalls. Head to the internet and research that model’s history. Check for recalls to see if the model experiences any repetitive problems, such as serious (and expensive) issues with the transmission, power steering, electrical system, and engine. For example, replacing the engine’s timing chain can run $2,000 to $3,000. Timing chains, different than a timing belt, are not uncommon issues in higher-mileage cars. Timing chain issues can arise if the vehicle owner doesn’t change the oil regularly.
- Get a vehicle history report. Knowing a car’s history is vital. Ask the car’s owner or dealer to show you data that includes accident history, the vehicle’s repairs, maintenance schedule, recalls, and in some cases, even oil changes. AutoCheck and Carfax are excellent sources for this information. When you buy a used car from an individual, you can purchase a vehicle history report for between $25 to $40. Generally, a well-maintained vehicle offers a longer, potentially trouble-free future than an ignored vehicle.
If buying a used car, it’s best to consider vehicles maintained according to the owner’s manual. So, in the case of Scenario 2, that high-mileage car could be a good buy.
RELATED: Best Used Cars for 2022
Inspecting a Used Car
An older car, such as the 8-year-old model in Scenario 1, has components that rust over a longer period of time. Make sure to inspect the underside of vehicles, especially in states that use salt to melt snow and in hurricane and flood-prone areas.
Before purchasing, you’ll want to know if the brake lines and suspension systems work safely. In addition, if the vehicle owner doesn’t follow regular maintenance protocols, shock absorbers, brake rotors and pads, tires, and other components will likely need to be replaced. If the tires look old, they could have dry rot, essentially cracking that makes them dangerous due to age.
Other susceptible age-related components include the radiator and heater core. For example, the heater core might get weak and suddenly blow out. Well, you fix the heater core, and the radiator might fail because, suddenly, you’re pressurizing the system back up to specifications.
RELATED: Car Warranty Guide: Everything You Need to Know
A high-mileage vehicle used chiefly for commuting with many freeway miles may be in much better shape than a vehicle used primarily for quick trips back and forth to the local grocer. There are several reasons for this, says mechanic Gary Hardesty, a master technician with Cox Automotive, the parent company of Kelley Blue Book.
“Short trips put more stress on the starter and engine components by constantly being used in short trips, where a long commute may only start a vehicle twice a day,” Hardesty said.
“Also, if an engine isn’t brought up to normal temperatures, the oil can become contaminated quickly as a normal operating temperature allows moisture and contaminants like unburned fuel to be drawn into the combustion chamber and burned off as a normal operation. These contaminants, not removed by longer drives and regular oil changes, risk causing major engine problems like sludge build-up.”
Hardesty recommends getting the vehicle inspected by a certified mechanic before you make the purchase.
“A quick way to see if a vehicle has rust is to open the hood and look at the shock tower bolts and components under the hood, as they are exposed to the same salt as the undercarriage,” Hardesty said. “Most manufacturers offer a corrosion guarantee for the unibody with some type of corrosion inhibitor. This is not true for most components like fasteners and such.”
One way to take the hassle out of getting a used vehicle inspected is with Alliance Inspection Management (AiM), designed for buyers and sellers. AiM, a unit of Cox Automotive, evaluates more than 13 million used cars annually. AiMCertify technicians can check the condition of any car or truck in the U.S. before you buy a used vehicle.
The mechanic will meet you at a dealership or wherever you need them for the inspection, which costs between $129 and $349. The experts can inspect cars manufactured in 1981 and later, though there’s a package for classic cars made before then for $199. Many of the packages also include an AutoCheck vehicle history report.
If you need more reassurance, consider buying a certified pre-owned (CPO) vehicle. Read our story on certified pre-owned cars to learn more about these types of vehicles.
Buying a Used Car Now
If you want to buy a used car at this time, be prepared to pay more.
According to a Cox Automotive report, used car shoppers paid an average of $27,156 on used vehicles as of November 2022. The report also found that the average mileage of used cars sold was about 70,000.
All these signs point to the used vehicle market hitting reverse after more than a year of high prices and low inventory.
“Since June, inventory has been relatively stable, though there have been slight declines starting in October,” said Quentin Wallace, Cox Automotive research manager. “While we were expecting an increase in used inventory to end the year like prior years, that hasn’t occurred yet.”
Used Car Lots Filling Up Again
Still, used car lots started bulking up again. Even if you make compromises, you might find a used car you like. Here’s more of what the report found and what you can expect:
- Finding a used Acura, Honda, Subaru, Acura, Mazda, Mitsubishi, Volkswagen, Nissan, and Lexus is challenging.
- By price category, “the lower the price, the lower the supply,” the report said.
- The most difficult used cars to find are priced under $15,000.
- Cars priced between $15,000 to $35,000 represent the bulk of the available inventory.
- You can also find a decent supply of cars priced above $35,000.
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Editor’s Note: This article has been updated for accuracy since it was originally published.
