I cannot emphasize how much I agree with WideOpn.
Its the 3 year old cars with 40k on the clock only used by Granny to go to church on Tuesday night that end up costing you a fortune.
High mileage vehicles , especially entry level exec cars, like a 320 or so, usually, belong to a company, who expense their fleet costs.
I have a client at has a 8 year service life on delivery vehicles, and those do run anything from 50 to 500km a day, serviced religiously, if it squeeks it gets fixed.
Crux is, pay list for new and get trouble free motoring for 4 to 5 years, while loosing 60% of your initial investment, or buy at half of new, and pay for maintenance..
Think of it this way, we are the ONLY country in the world with BMW Motorplan, yes other countries have similar plans on a sliding scale, but you do NOT get BMW 'MOTORPLAN' in the US or Europe.
It was a marketing invention on BMW SA in the late 80's (if my facts are correct) and they have not had the balls to drop to the sliding scale as introduced by other manufacturers world wide.
And all the other manufacturers followed this.
We are also one of the few countries that consider service life of a vehicle between 100 to 200,000km