Due to improved vehicle technology and better quality of components, cars to last a lot more miles than before. As a result, used cars have become increasingly popular in the past few years. When it comes to buying a car, you have a lot of decisions to make, new, used, model, compact and SUV. The choices can seem endless. Especially, in the case of used luxury car market. Luxury cars hold value in terms of performance and design even more today than they had ever in the past.
Before you make a final decision, here is all you need to know about a used luxury car.
Pros of buying a used luxury car
The most important benefit of buying a used luxury car is that it is more affordable. Buying a car that’s only a year old can mean significant savings as cars depreciate by up to 30-40% in the first year. If you don’t care about being the first one to drive it or having all the latest features in your vehicle, buying a used one is a great option.
Buying a used luxury car also gives you a chance to drive a quality vehicle without facing the rapid decline in value. You can buy a used luxury vehicle with accessories like built in TV's, surround sound stereo, or a GPS system, for the same cost as a new stripped down model.
Certified Pre-Owned Programs
Most arguments while buying a used luxury car focus on the fact that it won’t have access to warranties but most certified manufacturer or dealerships offer certified pre-owned programs that cover some repairs and warranty. Certified pre-owned luxury cars may value a small amount more than non-certified models, however, the difference usually ensures that you are purchasing a late-model car which has passed elaborate quality checks and also includes an extended warranty from the dealership
If still, a lack of a warranty is a concerning question for you, search out as much information as you can about available certified pre-owned programs, and make your decision accordingly.
Better Level of Care
Generally speaking, luxury car owners take great care of their vehicles, while this isn’t the case for every single car. It means that when you buy a used luxury car, you can have peace of mind that it’s been very well taken care of over the years. You can expect that you don't need to worry about serious repairs after buying your used car. If you continue that top level of care yourself, your car should last an extended time.
Good Resale Value
If you are planning to keep your car for only a few years, you’ll appreciate the fact, that the car will have good resale value when you have to sell it. By purchasing it used yourself and then selling it, you’ll receive the best of both worlds in terms of price.
Luxury cars are high-quality and made with best quality parts that are built to last. This means, you car will remain in a good condition even after years of usage.
luxury cars are crafted with higher quality, from heated steering wheels and indulgent leather seats to premium suspensions and driver-assisting technology, upscale car offers features that go well beyond the formals. In addition to the design points, these cars have more powerful engines traditionally, that can lead to longer engine life than you would find with less-expensive models.
Cons of buying a used luxury car
Each and every used car requires more maintenance as compared to new cars due to regular wear and tear. Luxury cars are no exception. If you decide to purchase a used luxury vehicle instead of an average new car, you will obviously can't maintain it for cheap. Be pretty sure regarding the luxury options you’re searching for, if they are worth the inevitable maintenance prices that comes with shopping a second-hand luxury car, before your final purchase.
Decreased Fuel Efficiency
Mileage is one of the least bothered aspects while making a luxury car. All the luxury comforts and performance means that there is compromise on the efficiency. If you're considering buying a used luxury car for your daily office commute, they you should consider your budget carefully.
If you’re purchasing a second-hand luxury car that’s five years old, then there’s a fair chance that the cutting-edge technology it featured as a new car is now dated. For some, this isn’t a big deal. But if you’re a more tech-focused buyer, then this could be a major consideration.
The ultimate decision comes down to a matter of personal taste, with most purchases. If you want to feel the opulence of a luxury car then you should go ahead buy one. However, if you are more concerned about maintenance, fuel economy, and latest features then you should probably go with a new car.