High Mileage tow vehicle question

Couple thoughts.
The condtion is huge. If it’s no rust/leaks and you have some inkling of services, it has a greater probability of being aservicable vehicle.
Next, if I had to pick an old truck, 90-98 GM would be #1 on my list. So you got that going for you.
If you’re not mechanically inclined, it is likely to nickel and dime you a lot AND the propensity for the engine or trans to die is great with those miles. Old high mile cars aren’t worth the money unless a person has the tools, space and knowledge to work on them IMO. Old age gets stuff and a $20 hose can leave you parked on the side of the road with your camperaseasy as a blown trans.
Again, I “know too much” about vehicles that I would have a laundry list of 100 items that could, will or have needed to be fixed within 10 minutes of looking at it. Then I could decide. You have the grampa truck thing going for you as long as grampa maintinaed it well.
Back to my second point, IF this is what your budget allows, it’s not all doom n gloom.
I had 4 of these trucks and my parents had 2 different ones. ALL of them were pretty stellar performers and they are close to the simplest cheapest vehicles to maintian and repair that you can get. We didn’t run any to those miles but a couple got to around 175k before sold. However the Cinderella story onewas my 90 Z71 5 speed.
I ran it to about 170k iirc. No major repairs other than a couple clutches and the excpected stuff water pump, a starter, half shafts etc. after i sold he truck I saw it a couple years after with a gn hauling a big slantload horse trailer. Talked to the guy. He said it was at 225k now. Bought it from he guy I sold it to and it was still on orig engine trans and axles.
I bought it from a a farmer who towed with but it was his “nice “ truck. Was like new. I towed heavy, loaded with contractors tools, off roaded it, and daily driver. The truck flat out performed as well or better than could have been expected.
Fwiw, none of our other GMT 400s had a major component failure either.

I’ve got 218k miles on my 02 Silverado with to 6.0. It still runs great and I’m planing on going to around 250k which should be a few years. I just put about $2k into it doing a rear main seal, replaced the oil cooler lines, trans cooler lines, and radiator. With the price of trucks, I figure that is about 4 months of payments. I bought I new so I know the history.

With that many miles you're running on luck. Take your credit card along or get a road service, like AAA.

when it comes to high mileage vehicles, the way that they have been taken care of is really important. I would buy a truck with 200,000 miles if was a diesel, especially if the owner was a mechanic or had good maintenance records. I would not be interested in a similar gas truck.

Good point made above, repairs are almost always cheaper than payments on a new vehicle. I have a relatively high mile 07 Dodge/Hemi and it seems just fine. I changed all the fluids and inspected everything when I opened it up. It doesn't burn any oil, the magnets in the rear diff and trans pan only showed fine metal fuzz, and not a lot of it. Everything in it works (A/C, power windows, radio, etc), so I'm pretty happy. The body does show some wear and has some rust starting.

That said, its a 4x4, and I paid $7000 Cdn for it, which is about $5400 in USD. It's got 233,000 Km on the odometer, so that's about 140,000 miles.

After I bought it, I did the following, doing all the wrenching myself:
- Rotors and pads on all 4 corners
- Rear shocks
- Added Timbrens
- Changed rear gear oil
- Changed transfer case oil (ATF)
- Dropped trans pan and changed both filters, replaced 6L of ATF
- Rotated tires
- Fixed driver's seat cushion with some new foam
- Replaced the grill
- Replaced the turn signal lever (signals worked intermittently)
- Ditched the "cold air intake" and put OEM one back on
- Sprayed rustproofer in the body where I could get it
- Adjusted the door latches to reduce wind noise

All in all I think I have about $8000 into it, and I have zero payments.

I figure I should be able to get 200,000 miles (320,000 Km) out of it by looking after it, and it pulls our little Hydrid TT just fine.

My Yukon XL is 12 years old and has 160,000 on it. I trust the 6.0 and 4l80e. Thing looks mint and has no rust. I drive it from April to November and park it in winter. Love it.

Due to medical issues (painful to use the clutch), I had to get rid of my 1999 Dodge CTD 5 speed manual tranny, quad cab short box and get a truck with an automatic transmission.
I found a 1999 Dodge CTD quad cab long box auto for less than $6500. BUT, it has 407,000 miles on it. The service records showed a couple of major rebuilds in the recent past, along with more than a few upgrades (headlights, taillights, stereo, front bumper with winch & grill guard, etc.)
I bought it.
At my age, I think that truck will quite likely outlast me!
I sold the "old" truck (well over 200,000 miles) for exactly what I paid for the "new" truck, and the buyer was very pleased to get it.

Just purchased a 2001 f250 with the 7.3 and 6 speed standard transmission. 293,000 miles when I bought it. High mileage vehicles don’t bother me at all, I enjoy working on them and the nickel and dime is better than a payment any day (for me at least).

We are looking now in the 7-10yr range. 200k is pushing it a bit especially at $10k.

We are mostly looking in the 120-150k mile range and $7-10k range. We figure that should buy us 5-8yrs of reliable use based on past experience.

The last truck we sold had 265k miles on it and only reason we sold it was the body was rusting away. Young couple who bought it were heading cross country the following day...same thing this time. If the body wasn't rusting away, I would expect another 4-5yrs before I would swap it out.

A side issue with really old trucks is the electrical glitches and interiors degrading from UV damage.

Some of the younger trucks with a lot of miles were just cruising on the freeway. That's generally not as bad (per mile) as someone who commutes 3 miles and the truck never gets up to temperature, so you can accept high miles without expecting as much wear.

For me, it would not be worth it, since I don't have a need for it. But if you have a need, well... only you can make that call. Assuming you may have some bargaining power, do your best to negotiate for a lower price. So where the seller's absolute bottom dollar limit is. Maybe you can get it for less.

As with any used vehicle, rust if a bigger problem, especially for those of us in snow states that deal with salty roads in the winter. I traded a 3500 duly Silverado (gas model) at slightly over 100,000 miles. Not because the engine or transmission were in trouble, but because the main frame under the truck was so rusted, my dealer pointed out, if I towed anything much farther, I ran the risk of yanking the frame apart. The rust was that bad. I dumped the truck as fast as I could.

So, more than just engine, transmission, and windows that work properly, get under the thing and check for rust. And oh.... how about that rust on the bottom of the doors. If it was recently repainted, repaint will never stop the rust on those doors, as that rust starts from the inside and works out! If it's got any new or fresh paint ... you are looking at a mess in less than a year from now.

But, if it all looks good, and you have the need, why not?