It depends a lot on the brand, and car. 200,000kms on a Honda/Toyota is not the same as 200,000kms on a Hyundai/Kia, or a BMW/Mercedes.
Everycar needs a pretty big job done around 90,000miles (timing belt if the car has one, pullys, fluids, brakes, etc)... people either get this done early and sell their car with value, or they sell the car before it gets to that point, leaving it on the new owner.
My car is a 2006, and looks like it's 3 years old. It's at 88,000miles, and has never had a problem while I've owned it. It's a beast in these Canadian winters, and flashy in the summer. I paid 15,000CAD. This specific car holds it's value, even at high mileage, that's another thing to think about. I could see myself getting $7-9k for it at 135,000miles.
If you buy a new OR used car, the main factors are...