Tips to follow when buying used luxury cars

Driving a lux car is every car lover’s dream. They would want to own one in their name. However, between the fantasy and the wheels comes – reality! The price! Not everyone can afford to buy a luxury car. It can be pretty disappointing, isn’t it?

Not anymore.

Because between your dream and the harsh reality comes seconds. I mean, pre-owned cars. Statistics show that the used car market was valued at $220 billion in 2020 and is expected to rise to $403 billion by 2026! That is almost double within just six years. 

Why is there a surge in used cars?

The answer to it is simple. You get to have the luxury at half the price. With organized marketing by the big players such as Mercedes-Benz, BMW and Audi, is gaining trust from the potential buyers for the durability of the wheels. 

There are also other factors playing a major role such as shorter car ownerships, increase in import & export, and improving lifestyles.

So, instead of buying a top-end commuter, many prefer pre-owned luxury cars to improve their social value. If you wish to own one, here are the dos and don’ts.

The golden rule

The rule to follow while choosing second or pre-owned cars is that they should be less than four years old and the mileage should be under 48,000 miles. It is the ideal prerequisite for any automobile that you choose. It would have run enough miles to go through any issues and you wouldn’t have to face any troubles for quite some time.

Do your research

A luxury car that has the best features and also fits your budget is not easy to find. You will have to research the brands and their value before you jump in for a purchase. Your budget also plays a dominant factor in deciding the car you will choose. Find dealers around your neighbourhood and try to get the best offers.

Go online

Given the pandemic situation, many brands are conducting virtual tours for their potential buyers. Make the best use of it, so you know every aspect of the car. Virtual touring has changed the game altogether. If you have trouble finding a contact, don’t worry. There are efficient tools online to help you on how to find out someone’s email.

Inspect the car and its history

The history of the car owner and how it performed in the past. If there were any issues and if there were any modifications. How was the initial mileage and gas consumption? Once done, talk to the seller and check the electronics and machines personally. For a backup, tag someone with you who is well versed with cars. If you are suspicious of having any issues, ask the seller to clear them up and transfer the ownership.

While there are infinite positives while purchasing pre-owned cars, you also need to consider the negatives. One rare aspect is that the depreciation value reduces for the seconds. The shrinkage value of the original is way too high when compared. However, remember that no matter what luxury brand you choose, it is eventually a second. So, expect wear and tears every now and then. The older the model gets, the rare its parts become. Consider all of the aspects and then make a decision. Personally, I would love to own a lux car because not every time you’d get a chance to make your dream come true!