Benefits of Buying a Used Luxury Car
Benefits of Buying a Used Luxury Car
Posted on July 2, 2023
For car lovers, owning a luxury car always remained a dream. For the past few years, many people have made this dream a reality. With expanding used car market, a variety of used luxury cars have been made available at great prices. There was a time when buying second-hand cars was considered unwise. This was because roughly used cars, in bad condition, were sold to buyers. However, these days, the used car market has become more organized. The second-hand automobiles are tested and certified to ensure that they are in good condition. This has made used cars a feasible option.
When it comes to purchasing an automobile, you have a lot of options! You can choose from a variety of brands and models. Whether you prefer a sedan or SUV, there are two options available- new or used. While buying a new car is the most obvious option, it makes sense to explore the used luxury car market. When buying a new car, you may have limited options in your budget. But with used cars, the options can be limitless.
Why Buy a Used Luxury Car?
After five years, the value of a new luxury automobile typically drops by nearly half. Depreciation might be considerably higher for more luxury vehicles. As a result, these vehicles are on par with the top-tier variants of several mid-sized sedans and SUVs. While many first-time car buyers feel hesitant to invest in a used luxury car, there are some great benefits of choosing used top-end models over economy-class cars.
- Advanced Features
Buying a used luxury car means you get to enjoy the top-end features at the price of a new economy car. Luxury cars are expensive because they are designed with premium features and advanced safety equipment. While the smell of brand-new cars can be tempting, economy cars can’t match the comfort and safety of luxury models. If you want to experience the best features like backup cameras, airbags, smart cruise control, automatic climate control, Bluetooth, GPS navigation, keyless entry, etc. then invest in a used luxury car.
- Less Depreciation
New cars typically depreciate by 10% in the first month and over 20% in the first year on average. When you buy a new car, it will most likely lose over 50% of its value after five years. Luxury cars come at a hefty price tag which means the amount lost to depreciation can be significant. Buying a used luxury car allows you to drive a quality vehicle without the rapid fall in value that comes with brand-new versions.
- Certified Pre-Owned Programs
Most people argue that buying a used automobile is a bad choice because there’s no guarantee about its condition. You may end up spending thousands on repairing it later. However, most brands now offer Certified Pre-Owned (CPO) programs and even the reputed used car dealers provide warranty. These certified pre-owned luxury cars may be slightly more expensive than non-certified versions, but the price difference often ensures that you are purchasing a car in good condition. The best used luxury car dealers perform extensive examinations and provide an extended warranty to ensure the quality of the vehicle.