Tips on Buying Cars: Cars with high mileage, high mileage car, lincoln town car

Question
Hello,

I'm looking for a car for my 16 year old daughter.  I stopped at a dealership this weekend and spoke with a salesperson.  The dealership was closed but he was able to answer a few questions and told me to come back for a test drive.

The first car is a 2000 Honda Accord with 164K.  The asking price for the Accord is $7299 but he said I could probably get it for under $7000.

The second car is a 2001 Toyota Camry with 181K.  The price was $6595 and he said he couldn't move on the price because it was just reduced.  The salesman told me the Camry was driven by a salesman and he took very good care of it.

Both cars seem to have been well maintained.  They have been on the lot for about 40 days.

My question is about the mileage.

Would you buy a car with that kind of mileage on it and what do you think a fair price would be to offer for these cars?   Any advice would be appreciated.  Thanks in advance.  

Answer
Consumer Reports ran a cover story in last months issue entitled, "How To Make Your Car Last 200,000 Miles or More."  I've always said that mileage on any modern car is secondary to condition.  A late-model, high-mileage car in good condition is a bargain, only because we've all been programmed to buy only low-mileage used cars.  I bought a 1992 Lincoln Town Car last year with 160,000 miles for $1,000, and drove it from New York to Florida- no problems.  My '96 Town Car has 105,000 miles and most people mistake it for new.  100,00 miles is not a lot of mileage any more.  Would I buy a high-mileage car?  Absolutely, and as you can see, I already have.

As for the cars in question, I can't determine a fair price for a vehicle that I can't see.  You need to check sites that offer REALISTIC used car values such as Edmunds.com, and see what they say they're currently selling for.  Any maintenance history the dealer might have on the car would be a big help, and make sure the last big (re: expensive) maintenance was done on these vehicles.  For instance, most Japanese engines require a timing-belt replacement every 60,000 miles.  When was this last done?  If it was just done for the third time on the Toyota, you're in good shape.  If not, then you've got a bargaining chip in your favor.