6 Things That Can Increase the Cost of a Used Car in the Long Run

Think you’ve scored the deal of the century on that used ride? Well, hold onto your steering wheels because we’re about to take a deep dive into the hidden costs that could turn your bargain into a money pit faster than you can say “check engine light.”

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GOBankingRates spoke with auto experts to uncover the sneaky expenses that might catch you by surprise. Here are six things that can increase the cost of a used car in the long run .

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Mileage Mania

The numbers on the dashboard could mean bad news.

According to AutoEasy.com , the AI auto expert founded by Daniel Yuabov, “The mileage on a used car is one of the most critical factors affecting its long-term cost. High mileage typically indicates more wear and tear on the vehicle’s components, which can lead to more frequent and expensive repairs.”

In other words, that steal of a deal with 200,000 miles might end up costing you more in repairs than a newer model with fewer miles.

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Maintenance Mayhem

Think those oil change receipts are just clutter? Think again!

Aivaras Grigelevicius, an automotive expert at carVertical , shared some thoughts: “Every receipt for quality parts, every bill received for an oil change, and every other repair increases the used car’s value significantly.”

So, if you’re buying, look for a ride with a well-documented history. And if you’re selling, start hoarding those receipts like they’re winning lottery tickets.

Luxury Lemon

Alan Gelfand, owner of German Car Depot , dropped some knowledge about fancy rides: “European cars, like older BMW 7 Series or M Series and Mercedes-Benz S-Class or AMG models, are particularly known for their expensive replacement parts. This can make maintaining these used cars quite costly in the long run.”

In other words, that secondhand Beemer might make you look rich, but it could leave your wallet feeling very, very poor.

Tech Troubles?

Feeling the itch to modernize your ride? Maybe think again.

“Many used car owners choose to upgrade their vehicles to enhance functionality or appearance,” Gelfand said. “For example, upgrading the infotainment system can cost anywhere from $100 to over $2,000, depending on the car’s age and the sophistication of the features you’re adding.”

So, before you start dreaming of turning your 2010 clunker into a 2024 tech marvel, remember that those upgrades could cost you more than a year’s worth of streaming subscriptions.

That said, Grigelevicius provides a different point of view: “Used car owners will be delighted to hear that there are dozens of different options to upgrade older infotainment systems or even install Android Auto or Apple CarPlay connectivity without breaking the bank.”

So, if you want a tech upgrade, just find one that doesn’t cost an arm and a leg.

Parts Scarcity Scare

Got your eye on a unique or discontinued model? Gelfand has some sobering news: “Take the Pontiac GTO, for instance. General Motors already discontinued production for the Pontiac, which makes parts harder to come by. As these parts become more scarce, they may even turn into collector’s items, which significantly drives up costs.”

Translation: Your cool, rare car could turn into a very expensive lawn ornament if you can’t find parts for it.

The Overhaul Overreaction

Now, before you go wild with upgrades, Chris Pyle, a JustAnswer Auto Expert , offered some sage advice: “When you purchase a used car, do not get into the thinking that you need to change all fluids, belts and hoses. Do not replace the carpet and seat covers, and repaint.”

Instead, he said to lean into the used car of it all — it’s not supposed to be shiny and new so just embrace it (and its rust)!

Keep Really Good Records

Want to make sure your used car has good value? Keep solid records — that means every receipt for parts, every bill for an oil change and every charge for a repair.

“A clean, well-documented car care history is one of the most important criteria when buying a used car,” Grigelevicius said. “This can be particularly useful for those who want to sell their car for more than the average market value.”

In other words: Keep great records and you’ll be rewarded greatly when you go to sell it!

This article originally appeared on GOBankingRates.com : 6 Things That Can Increase the Cost of a Used Car in the Long Run