Owning a luxury car might be a dream for many of us. However, like many people, your budget might not be allowing you to get your hands on a brand new luxury car that you’ve always dreamt of. An easy solution for this issue is to buy a used luxury car because it’s much cheaper than brand new. While you may be wondering to purchase a used Audi or Mercedes, people around you would be convincing you to consider buying a brand new Toyota rather than a used car. With all the suggestions, you must be confused about whether to listen to them and buy a brand new economical car or a used luxury car of your choice.
Confused you, must be impulsively itching to treat yourself with a used luxury car so you too could join the luxury car club and enjoy the perks of owning a high-end vehicle. However, there are certain things about luxury cars that might change your mind to choose a modest brand new car instead. Here are some of the benefits and drawbacks of buying a used luxury car, and it’s up to you to decide whether or not to buy the high-end car of your obsession after learning the possible outcomes.
Benefits of buying a used luxury car?
Perhaps the biggest benefit of buying a used luxury car is the access to advanced features for the fraction of the price. For instance, (I’ll use a BMW to represent luxury cars) purchasing a 2016 BMW 5 series which isn’t too old, will allow you to experience BMW and its advanced engineerings such as AWD, lane monitors, and many more for a similar price as a 2021 Toyota Camry. Although the Camry offers great features such as a sunroof, push start, and an infotainments system, these are contemporary and are found in most of the newer cars today.
But the premium experience of driving a high-end car is unique and it can only be obtained from the specific automaker, and there is no debate about the pleasure of driving these cars. Another reason regarding the build quality is the durability. If you could find a high-end car in mint condition, the chances of getting buried with repair bills are less, because high-quality parts last longer than ordinary spares. If you are obsessed with luxury cars but don’t have the budget to get one, buying a second-hand premium car is the best choice, no matter what. You certainly don’t have to kill your car obsession just because of a smaller budget as I always mention in other guides.
Driving a luxury car is a status symbol even if the car isn’t brand new. This is because these companies have positioned the brand very well. High-end brands tend to give an enhanced first impression that will come in handy during times when you want others to think you are classy. For instance, you look successful when you arrive suited up in an Audi, just as in the advertisements, which would allow you to access certain things that may not be possible looking inexpensive. For example, the valet drivers in a hotel might prioritize your vehicle simply because it looks attractive, although it’s not right to judge someone based on their looks. Therefore, buy a used luxury car if you want to look prestigious.
Used luxury cars don’t depreciate quickly like the newer cars. Let’s take a 2016 Audi A6 as an example. It costs between $22,000 and $34,000 depending on the trim package and condition. However, you would not lose a lot of money selling these after using them for some time because the previous owner has already bared the loss. Brand new cars including high-end vehicles lose a significant amount of their value after a few years of hitting the road. Therefore, it’s better to buy a used luxury car if you don’t want to sacrifice a chunk of the investment on your cars.
Drawbacks of buying a luxury car?
The things you might not want to hear if you are eager to buy a high-end car are important if you want to avoid stress because of the car. The biggest drawback you might have come across in your research is the cost of maintenance. This is because expensive cars are expensive to maintain as well. For example, if you grab a used BMW for $25,000 it’s a great deal, but a regular service alone is going to cost you twice as much as a Toyota or even more because the parts that are of high quality is going to cost more, and the engineering is complex that it requires more skills to deal with. Also, the warranty on the used cars might be over and you’ll have to pay the bills out of your pocket.
Finding a used car in mint condition is better, as the bigger bills tend to arrive as the mileage keeps adding. However, finding a used car that is in immense condition is extremely difficult because the owners who take care of their cars like their children usually don’t sell them too quickly, unless they really want to get rid of it. Even if they do consider selling, the price might not be favorable to you. In addition, luxury cars are equipped with bigger engines to offers you better comfort and driving pleasure. But the problem with this is low fuel efficiency. These big engines drink a lot of fuel which increases your running costs. Therefore, I suggest you avoid a premium car if you aren’t looking to spend more on fuel.
Although an older luxury car looks elegant from the outside, some of the models may not be having all the tech you need these days. With technology developing faster than light, incorporating them is extremely useful because it makes life so much easier. For instance, Apple carplay is only compatible with newer models which makes it inconvenient if you are used to it from your previous vehicle. In addition, car companies are trying their best to equip the latest models with new and advanced technology. People tend to believe luxury brands are the only ones able to come up with interesting features. They do indeed introduce unique features, but you must keep in mind that other carmakers are also improving their products by adding new technology and engineering.
Whether you should buy a used luxury car or a new normal car depends on your purpose and situation. For instance, if you want it so badly, go ahead and look for a car that is in good condition and buy it. But remember to be prepared to spend additional money on maintenance just in case. However, if you are someone with a busy schedule and your purpose is to go from point A to B, you better purchase a new car because you’ll need to spare some time to deal with repair bills and visits to the garage with your used luxury car. I hope this article helped you make a final purchase decision.