Hello, I’m considering buying a 2014 Mazda 3 i Grand Touring Hatchback from a dealer in the Chicago area. It has 126K miles on it and they’re asking for $10,000. Is that a fair price? Also, what’s considered a high mileage for this vehicle and what problems/replacements might come up? At this point I’m trying to figure out if it would be safer to go with a 2014 Toyota Corolla with 97K miles on it.

 

I have a 2014 Mazda3i Grand Touring and really like it. However, I consider $10k for a 6-7 year-old car that has 126k miles on it to be a pretty steep price. At those miles, you could be on the hook for any number of things, including brakes, struts, bushings/bearings, seals, battery, spark plugs, filters, wipers, etc. That's not to say that the Mazda3 is hard on such things, but 126k is a lot of miles and things do wear out. After all, this is a car that sold for $20k or so new (I actually paid a little less using the Costco buying program). I would expect $8k tops for that car, and only if it is in great shape. Even better if it has some maintenance records. Even then you should set aside at least a couple hundred bucks (and maybe even $1,000) for immediate repairs, cleanup and necessary maintenance.

As I said, I really like my 2014 Mazda3, so I hope I'm not pissing on your campfire too much.