AD: Why A Used Luxury Car Is A Great Value
If you want a luxury car, the biggest choice to make is whether to buy a new or used vehicle. Some people like to be the first owner. However, there are many benefits of buying a used luxury car instead. These are the top advantages.
As you drive a new car off the dealer’s lot, it depreciates drastically in value even before the odometer clocks its first full mile. With a used car, the depreciation rate is much slower. This means that if you decide to sell the car within a year or two and you financed it, you are more likely to get a value closer to what you owe for a used vehicle than a new one. Many people wind up with negative equity during the first few years of owning a new car.
Lower Registration Fees
Standing in line at any California DMV office is a hassle. However, you can make that trip a little less financially disheartening buy purchasing a used vehicle. During the first few years, a new car’s registration fees stay high. They tend to fall considerably after that since costs are largely based on the model year. A used car can save you hundreds of dollars at the DMV, and the renewal price continues to drop each year.
No Dealer Fees And Extras
If you have ever been hit with a shipping charge, a destination fee or a dealer preparation fee, you know how expensive buying a new car really is. People often end up paying extra at the dealer for anti-rust coating, protective films and other add-ons that do not really add any resale value to the car. With a used car, you do not have to worry about paying more for these features. You are only paying for existing features of value. With so many luxury pre-owned cars for sale, you are sure to find one with most of your preferred features.
Today, you can get extended warranties for peace of mind even if the manufacturer’s warranty is not transferable or has expired. Dealers are often flexible with prices as well. If you like a certain vehicle, you can get a good value by purchasing one that is barely used. For example, you could buy a 2015 used BMW in New York instead of the same 2017 model from Beverly Hills Auto Group and pay much less.