5 Smart Reasons to Buy a Used Luxury Car
5 Smart Reasons to Buy a Used Luxury Car
Posted on September 21, 2019
Do you dream of driving Rolls Royce, BMW, or a Porche? Buying a sleek sports car or a splendid, high-end SUV is the dream of every car enthusiast. But if your budget doesn’t allow you to get one such gorgeous beast, then buying a used luxury car is the best option.
The auto industry is thriving and car prices are going up every month. As such, buying a used car makes more sense for first-time buyers upgrading from two-wheelers or public transportation. Whether you want to purchase your dream car or need a second set of wheels in the family, buying a used car can be a viable option.
Buying a car is one of the most expensive purchases that you ever make. But instead of buying a new vehicle, a second-hand car can save you big bucks in several ways. This is because when you buy a brand-new vehicle, the registration fees, subsequent costs, and depreciation cost can add up to thousands of dollars over the first few years of new car ownership. This is where smart buyers consider purchasing a used vehicle.
If you’re still confused about buying a used car, read further. In this post, we’ve compiled 3 smart reasons why buying a used luxury car will be a wise decision.
- Less Depreciation
If you buy a new car, it typically depreciates about 20 percent. When you get a used car, it’ll also depreciate but here you’ll lose less money. Vehicles usually lose 10 percent in value during the first year. This means that you’re most likely to see a 30-percent loss in value during the initial year of ownership. Every car undergoes depreciation but a used car depreciates at a slower rate. If you consider buying a used car, you may get a 2009 Porsche for the price of a 2015 Honda.
- Save Money
When you buy a used car, you can save thousands of dollars. As mentioned above, the new cars depreciate fast. Besides the depreciation issue, buying a used car also costs less on sales tax and insurance. In many states, it is cheaper to register a used car than it is a new car. Low cost is the primary reason for buying a second-hand car. Moreover, you can also find favorable financing rates and terms for used vehicles.
- Drive Your Dream Car
The high-end vehicles are of superior quality which means you get a good car at a good price. Even the used luxury cars give good mileage and are built to last longer than ever. You get to drive your dream car while saving hundreds of dollars. The top luxury car brands, like Audi and BMW, have the reputation of designing and manufacturing cars that perform better even when used for years. So, if you’re not born with silver spoons to own a fleet of posh cars, you don’t have to give up your dream. If you buy a used car instead of a new one, you get an opportunity to drive a better car.