gotta agree with the "how well was it taken care of" statement. Most new cars of any make should be able to make 200,000 with mild care. Tech, oil, etc has improved so much in the last 20 years or so. there is something to be aid about design.. in the past there where simple flaws but even many older designs could make extended miles. Chryslers 318, Gm's 3800, Fords 300 straight 6. Nowdays take a trip to
www.car-parts.com (its all the junkyards in one database, handy for 2nd hand parts).. take a look at the engine you are wondring about (ford 5.4 highest legit one is 350,000, but many for sail with 250,000 ish...).. if you do a search you will see many with high miles (200,000+ even 300,000+) most junkyards tend to skip putting miles on over 200,000... but some do. PERSONALLY i have had a 88 GM3800 with ZERO internal work ( just plugs, ignition, oil, and maybe a water pump or two with 340,000 (and it still ran great but I moved on). A 97 Dodge 3.3 with 200,000 and its a daily driver right now (my toy hauler, i fly RC planes). My friend drives an older ford 4x4 f150 (sorry not sure on year, 92?) with the 300 6 and its got 290,000 something.
but there is the RUB.. buying used, how do you know how its been treated? Even good service records cant tell you the guy liked to drive in low lock at 75 MPH? Did he pull a 40 foot camper at 90MPH in the MT's? MOST people dont abuse stuff to hard, but we all see that idiot that leave his 10 foot driveway at 50MPH slams on the brakes, shift to forward from reverse before its stopped.. who cares if he fixes every thing.. he is abusing the crap out of his truck.
I live up by the ND oil boom and buy and sell cars/trucks from craigslist/ebay/local papers for fun and to try make a dime here ands there.. (sadly like gambleing you win big or lose big, and the losers are far more common). I always figure if I pick something up.. if i cant dump it in a week for a few hundred less (if its got problems I didnt see) i wont buy it. It has to be a good deal.. at least 30-40% less then KBB.. so many people Look at KKB like they can get that amount no matter what. its a GUIDE not a fact.
I have looked at alot of cars/truck with 200,000 that ran great, its a gamble.. but depending on what you pay.. it can work out.