- Friday, April 26, 2024
By: Eastern Eye Staff
Pre-owned luxury cars are gaining popularity because they are more affordable than their new counterparts. Buying a used luxury car is perfect when you are just starting, but this can be tricky territory for the more established buyer. Pre-owned luxury cars have perks and drawbacks, which you must consider before purchasing. In this article, we will touch on these benefits and disadvantages so you can know what’s best for your situation. But first, let’s take a quick look at what constitutes a luxury vehicle.
A luxury car is prestigious, featuring the latest technologies, enhanced performance features, and posh interiors. Some years ago, brands like Audi, BMW, and Mercedes-Benz dominated this segment. But today, even mainstream automotive manufacturers like Toyota are producing luxury models.
Luxury cars are a piece of art, and they are worth having because they are made to last. Buying a used luxury car may be the best decision you ever make. For one, it’s less expensive than buying new. Not only that, but you can enjoy peace of mind if it comes with a certified pre-owned program and has been well cared for by the previous owner.
Certified pre-owned (CPO) programs ensure there won’t be any surprises when you get behind the wheel. A CPO luxury car has been repaired properly and passed strict inspection standards. Most used cars Calgary under this category are backed by warranties from the dealership or manufacturer. Other perks of CPO programs include financing options, roadside assistance, leasing privileges, and travel reimbursement.
Because luxury cars are generally expensive, their depreciation can be substantial in the first few years. The buyer can save almost 50% of the original market price. So, you will enjoy a quality vehicle without paying the initial hefty price of a new model. Once you become the new owner, the car will not depreciate as quickly, and you can enjoy it for longer.
If you want to buy a pre-owned luxury car, you must consider a few drawbacks contributing to the cost of ownership and day-to-day expenses. First, watch out for outdated components that may not be appealing at the time of purchase. If it’s five years old, its technology is probably outmoded. The features may be fine if you are tech-savvy, but they will be a major drawback if you are tech-focused.
Another disadvantage of buying used with higher mileage prestigious cars is their intensive maintenance needs. Expect to visit the body shop more frequently than you would with a new model. The repair cost is relatively higher, considering these vehicles are not mass-produced like economy-class models.
A premium secondhand car usually has reduced fuel efficiency. You are in for an extravagant ride with a powerful engine, plush interiors, and high-end features. As a result, you have to fill the tank with premium gas.
Whether you want a pre-owned luxury car depends on your taste and style. A used model with reasonable mileage is just as good and cheaper than a new one. Even though it may not alter your life, it will surely enhance your driving experience. While you will enjoy fun on the road and greater prestige, beware of these rides’ repair costs and low fuel efficiency.
