4 Benefits of Buying a Used Premium Car
Due to their captivating looks, upscale materials, formidable performance and rich equipment, luxury cars are virtually irresistible. However, there’s one major obstacle separating prospective owners from luxury car ownership. That’s their sticker price, and as a result of that, many car shoppers turn to used luxury cars. Usually, you will find numerous bits of advice deterring you from buying second-hand luxury machinery, but we’ll go off the beaten path and tell you why doing that is, in fact, a good idea and an automotive dream worth pursuing.
As you probably already know, luxury cars depreciation rates are higher than those of regular cars. That means you could find a perfectly sound low mileage example for a fraction of the sticker price of a car from a salon. For example, the popular Lexus IS300h starts from €41,480, while you can find used cars with just a few thousand kilometers on the clock for as low as €36,000. By choosing second-hand cars, you can take advantage of luxury car depreciation to find better-optioned variants for the prices of baseline models, or even lower. What’s also very important is that slightly used second-hand cars have a big chance of still being covered by factory warranty. That means you’ll have full advantage of warranty for a fraction of the price of a new car.
The Savings, Savings & More Savings
The initial savings when buying a second-hand luxury car are considerable, and that’s not the end of them. A car with a lower price is also easier to finance since interest rates will set you back less when compared to the car you’re buying from with zero kilometers on the clock. What also goes in favor of used luxury cars is the fact that insurance premiums for them are also cheaper. That makes your second-hand dream car less costly to put on the road and drive during the year. Luxury cars often fall under E and F insurance groups, with 750€/1200€ motor taxes and 1685.43€/1945.47€ insurance premiums, but a used one can get to Band D, which will get you 570€ in motor taxes and 1456.35€ in insurance premiums, a significantly cheaper number. The other annual running costs depend on you and your driving habits, but the savings on taxes and insurance premiums will provide you with a bigger fuel budget, for example.
Another important factor that goes in favor of buying second-hand luxury cars is time. Compared to entry-level and mid-range cars which are built in predefined equipment levels, luxurious automobiles have way more personalization and customization involved in the manufacturing process. As such, they’re not produced in the same way as cheaper cars are, which affects delivery times of new luxury vehicles. Once you order a new car, you could wait for months for it to arrive in your preferred specification. On the other hand, when you find a car in exactly the same color, trim and condition you’d like, you’re just a couple of days away from enjoying it to the fullest as the car is already there in front of you.
The Decreased Pollution
Even though it’s hard to believe, even the environment will benefit from you choosing a second hand over a brand new car. The carbon footprint of producing a luxury car can be up to 35 tonnes of CO2, up to two times more than the carbon footprint of a mid-sized car or even three times more than that of a compact car. That is an astonishingly high number that never gets to be mentioned in brochures alongside CO2/km numbers manufacturers brag about. Unfortunately, CO2 is not the only pollutant in the manufacturing process. Car production is among the leading causes of lead pollution worldwide, and it will remain so until lead-free alternatives find their way into mass production. With all that in mind, you could think of buying a second-hand luxury car as a way of recycling, because you’re choosing not to put one more source of CO2 and lead pollution out on the streets.
The Final Thoughts
No matter what myths say, running a second-hand luxury car might not be such an exhausting experience at all. The difference in initial cost, insurance premiums and road taxes will enable you to either save or rebalance your budget in an according way. In the process, you’ll also be keeping the planet green and your dream alive with every kilometer in front of you. So, get ready to browse through the ads to find your perfect, affordable luxury machine!