People who regularly buy luxury cars aren’t generally into used or pre-owned cars, but if you’re looking to upgrade to some fancy wheels but don’t really have that kind of money to shell out, here are a few reasons why buying used luxury cars makes a lot more sense than splurging on a fully-loaded economy vehicle.
What do you need to know before buying a used luxury car?
Your first concern should be the car’s age and condition. You might find a great deal on a 2015 BMW 5 series, but what condition is it in? On the other hand, you might see something you like that’s in really great shape, but it’s a 2008 model. How do you decide what the best combination of price, year and condition are?
Another consideration is the cost of maintenance. You might get a used luxury car at a price that fits your pocket now, but can you keep up with the cost of parts replacements when they’re due?
But we’re here to talk about the benefits of buying a used luxury car. Assuming you’re able to find the right dealer and the right car, here are some things that can motivate you to go for that dream car you’ve always wanted.
One good reason to invest in a pre-owned luxury car is that you get more car for less money. Driving a well-maintained, but used, Mercedes Benz E350, for example, is far more likely to give you a better experience than a brand new, fully loaded Camry.
If that’s not a compelling enough reason, consider the fact that luxury cars depreciate at a slower rate than economy cars, in general. It depends on the make and model, of course, but economy cars can lose as much as 50% of their value over a four-year period – much faster than a luxury car.
The third reason – and this might be the most important one for a lot of people – is the safety aspect. One of the reasons luxury cars are expensive is because of the superior technology they come with, and that includes safety features. The best part is, safety features rarely go out of fashion the way car designs do. That means, dollar for dollar, you’ll invariably get a higher safety factor with used luxury cars than with new economy cars, for the same price.
Used luxury cars are often cheaper to maintain and repair than economy cars, over a period of time. You might find that surprising, but most used luxury car owners know this. The reason for this is quite simple when you think about it…
The bulk of the cost of a luxury car is upfront because you pay for better quality, more safety, a better experience, greater longevity and so many other intangibles that you get right away; most of the cost of owning an economy car, on the other hand, hits you after a few years, as any “lemon” owner knows – the older it is, the more expensive it is just to keep it in roadworthy condition.
Another point is that many older luxury vehicles from as early as 2008 and 2009 come with a bunch of stuff that new economy cars are only coming out with now. Many economy cars today come with navigational systems, one-touch engine start, emergency brake-assist, cruise control, high-end audio and infotainment systems and so on. These were standard on many of the luxury cars from the late 2000s, and they’re all likely to be premium-branded stuff that just works for years and years.
I recognize the fact that much of this is generalization, and the real benefits to you depend on the used luxury car you actually intend to buy.
But what I’ve outlined above are some of the very real things you need to think about if you’re on the fence about buying a used luxury car over a new economy vehicle.
If you’re in the market for a premium pre-owned automobile, you can head over to the website of a luxury used car dealership like Beverly Hills Auto Group, which carries several luxury brands like Porsche, Lexus, Mercedes-Benz, Audi, BMW, Acura, Cadillac and Land Rover. The company offers trade-ins, test drives, quick credit approvals from multiple vendors and, best of all, a hand-selected inventory of 5-star-rated used vehicles.
Visit Beverly Hills Auto Group Website
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