Why buying a second hand luxury car makes more sense than buying a new one

Times have changed and everywhere you look, every second person seems to be driving a luxury car. But you can’t really tell if it’s spanking new luxury car they own or a pre-owned one. The difference between a new and used luxury car is negligible, if the used car is well maintained. If you have ever dreamt of driving your own BMW or Mercedes Benz, now is the time to jump on that bandwagon.

Large number of people sell their luxury cars through reputed dealers like Carswitch, few of them sell car online as well.  So if you know that you definitely want to own one of these cars and are unsure about putting down your cash on a new luxury car or a used one, we will give you some pointers which will help you out.

Pricing

It is common knowledge that a pre-owned car, luxury or otherwise is much cheaper than a new one. And once you drive your car out of the lot, no one can really tell if you have bought a new luxury car or a used one. The difference between is the two is negligible. The driving experience is the same and you get all the same features and luxuries. Investing in a gently used luxury car is infinitely cheaper than buying a new one. If you have the money to spare for a new one you could easily buy a luxury car and an economy car at the same time and get more bang for your buck. Owning a luxury car is an aspirational lifestyle. It adds a certain element of pizzazz to your lifestyle. With the way people buy and sell cars in Dubai owning that luxury car is not as far away a dream as it used to be.

Depreciation

Cars start losing their value as soon as they leave the lot and within the first year there is quite a steep decline in the value, almost 20-30%. After you’ve spent a large chunk of your money on a new luxury car, the elation doesn’t really last till the time of selling as the value of the car would’ve dropped considerably. However when you buy a used luxury car, the brunt of the steep first year depreciation has already been borne for the previous owner and the depreciation value slows down after the first year.  So, buying a second hand luxury car is much easier on the pocket and at the time of selling it off you won’t really feel the pinch as you wouldn’t have sunk in an exorbitant amount in the car.

Monthly Payments

Chances are you are going to use some financing while investing your car and you need to work out your monthly budget to include you instalments towards the car. You will land up paying a much larger monthly instalment every month when you buy a new luxury car and the downside is you are going to get only a fraction of what you paid when you sell the car. This could be a strain on you financially and may not leave room for any other expenditure that you may want to indulge in.

On the other hand, you will pay a quarter of that sum in monthly instalments when you choose a used luxury car as the price of these cars is much cheaper. It is easier on your monthly budget and when you want to sell the car you won’t feel like you’ve lost out on a huge sum of your money.

Less Paperwork

There is a lot of paperwork that goes along with buying a new luxury car before the car is 100% yours. From ownership documentation to insurance and warranty, the owner will have to do a bit of running about to have all this paperwork in place. However, when you buy a used car, since the previous owner has pretty much done all the requisite paperwork you don’t have to worry about all the hassle to get this sorted. An additional bonus, you can also save quite a lot on paying the new car registration fees as it has already been paid for by the previous owner.

Nothing can beat that rush of adrenaline when you sit behind the wheel of a powerful engine. A luxury car adds to your social and your car comes with features and attributes that make it fun to and comfortable to drive. So choose a gently used luxury car and enjoy the same experience at half the cost.

Image credit: Second hand luxury car via Sasin Paraksa/Shutterstock

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