I’ve never been lucky enough to get over 200K miles on vehicle. I’ve hit 150K on 4 of them (well, my first, a Honda Civic with no AC and AM-only radio, started off with almost 100K. Cost me $900 and I sold it 2 years later for $1200).
We had the same thought when it came to the daughters’ cars after years of listening to financial gurus. My wife’s stipulations were that a car had to get 5-star ratings both on the required gov’t crash tests and also that offset crash test by the insurance institute, that they be relatively small, but also taller than a sedan (e.g., small SUV).
Then when we started looking, model years 2014, 2016, and 2018, each time the incentive stacking made the model we were looking at $1K-2K cheaper to buy new vs, 2- and 3-year old used (except very high mileage cars, +70K miles).
Finance though us? $2K incentive (“please - you don’t have to - but if you make 3 payments before you pay it off we get credit, can you do that?” “No problem, will do.”), brand loyalty = 1K, veteran = 1.5K, factory incentive = 3K. There were a couple of other small incentives I don’t recall, but in the end, all 3 times we ended up shaving $8-9K off the MSRP of a ~ $29K vehicle.
Well, those days seem to be in the rear view mirror. I recently replaced my 2009 Honda and not only were Honda corporate and individual dealers offering no incentives, the dealers were playing tricks to jack the price $1200-$3000 over MSRP. Add on mudflaps, free routine service for 3 years, roofrack, add a year to the B2B warranty or make power train lifetime (good only at that dealer), etc. I looked at every Honda dealership along the route from Bradenton FL to Bloomington, IL (which my wife and I were going to be driving) and every dealership was playing the same game. [ETA - and certified pre-owned in the hybrid model I wanted was very tight. Some with the ugly “Pearly White” paint were available but I ain’t driving that.]
Ford right now seems to be having a problem moving trucks, but $8K off an $80K truck isn’t in the same league as those long-ago deals. And I’ve got no rational reason to buy an F150. Although I admit that I (irrationally) kind or wanted to… 