What kind of car are you talking about? My experience is mostly with Japanese cars, Toyota and Honda, and I would say that 200,000 miles is a reasonable expectation -- given good maintenance. I've had bad experience with US cars and rotten experience with VWs. I'll stick to the Japs.

buying used, barring getting a lemon, is probably the most cost-effective way to go, as most of the depreciation has already happened. Also, not being so concerned with spotless finish, etc. but the bare-bones functionality.

oh, i definately agree with you--- jap cars 200,000-- hyundai- 100k.  

i think hyundais are better bought new(dirt cheap!!)
jap cars better used(toyota best)

Maybe in the past, but no more.  Hyundai's quality is now up with Toyota and Honda.