The cost savings are obvious. But is buying a used luxury car a good idea?
If you choose carefully, purchasing a pre-owned luxury vehicle can provide incredible value not only up-front, but over the vehicle’s life as well. Here are 3 factors that can make buying a used luxury vehicle a smart move.
3 Reasons to Buy a Used Luxury Car
1. Rigorous Inspection Programs
Even if your car isn’t brand new, you can ensure that it is in good condition when you purchase it. First, you’ll want to look up the vehicle’s CARFAX report, which will include information like the year purchased, last odometer reading, and accidents and damages reported to CARFAX. Many dealers provide free access to CARFAX reports on their websites. If you’re buying from an independent seller, you can purchase CARFAX reports by searching the vehicle’s VIN or state and license plate number on the CARFAX website.
Not all accidents and damages are reported to CARFAX, so you’ll also want to ensure that your pre-owned dealership uses a rigorous inspection process for their vehicles. We recommend looking for dealerships that specialize in low-mileage, one owner, accident-free vehicles. Sources for high-quality, pre-owned vehicles often include manufacturers, financing organizations, or lease companies. Paint checks will also ensure that the vehicle hasn’t had previous paint or body work.
2. Warranties and Extended Warranties
One of the major risks associated with purchasing a used vehicle is a lack of factory warranty. You buy the vehicle used, and if anything breaks, it’s on you to cover the repair costs. However, if you’re in the market for a newer used vehicle, there’s a good chance that it will still be covered under the factory warranty. At Poquet, we usually buy vehicles that are under 3 years old, which means that there is often up to a year left on the factory warranty.
In addition to factory warranties, many used car dealerships also offer their own extended warranties for purchase. Although they add a small bump to the up-front cost, you’ll gain peace of mind knowing that your luxury vehicle can get the care it needs for one low fee. Extended warranties are especially important if you plan to keep your vehicle around for a while. In the used luxury environment, extended warranties can also mitigate the risks of sky-high repair costs that come with your vehicle’s top-notch engineering and fine-tuned performance.
As Poquet expert Brad Dybing says, “You never know what might happen. Cars are machines. They break, and need to be fixed.”
3. Unbeatable Driving Experience
Sure, you could get a new economy vehicle for a similar price. But after experiencing the power and smooth handling of a luxury vehicle, many people simply can’t go back. There’s also the prestige of driving a luxury brand. It’s fun to be seen driving a top-of-the line vehicle, and it can affect how you are treated.
On a practical note, many luxury vehicles also offer safety features that are a few years ahead of base model features. You can relax knowing that your vehicle is well-equipped to handle any emergencies you might face on the road.
Are you thinking about purchasing a used luxury car? Feel free to give us a call at (763) 522-2000, or check out our inventory online.