When it comes to buying a luxury car, there are a lot of things to think about. Spending a sizeable amount of money on any car can be a very big financial decision in your life, but regardless of your income and budget, you need to be sure that you are spending within your means and getting a car that works for you, that you can have fun with. One thing that too few people consider is whether they want to buy their luxury car new or used. Both have a lot of pros and cons and it really depends on what you value more in the cars – here are some reasons to help you decide whether you want to buy your luxury car new or used.
One of the main differences between buying a luxury car new or used will be the difference in price. If you have the money or the credit, you might be tempted to buy a new luxury car, full price – but still, in this scenario, it is wiser to get a used luxury car and save some money. Used cars are better this way, whether you have less-than-ideal credit or you’re just looking for a good deal in order to preserve the money you have. They also don’t depreciate as quickly as new cars, which begin a steep decline in value the moment you drive them off the lot.
Another key difference between new and used luxury cars is how you buy them. If you’re buying a new luxury car, chances are you will find yourself at a dealership, unable to negotiate on the price of the vehicle, and without many chips in your corner. On the other hand, if you are buying a used luxury car, you can often try and negotiate the price.
Another factor is options: at a new car dealership, you will have a lot fewer options (because they only have so many cars in the lot). But if you decide to buy used, you have a wider array of cars to choose from, since, oftentimes, used car dealerships have much larger inventories. Start by researching the best luxury cars of the past few years, and go from there.
One bad thing about buying a used luxury car is that there can be things wrong with the car, which is why, before you buy, you need to make sure that everything works and that you are getting a car with a clean history. A great used luxury car dealership will be very transparent with this process, offering a positive ownership history and a CarProof report.
Luxury cars are awesome to drive, any way you cut it. But you need to make sure that you are getting a good deal, and that you have your financials in order so that you can afford to pay for the luxury car. While new and used luxury cars each have their pros and cons, ultimately, for price as well as variety, used luxury cars are better. Just make sure you end up at an honest, professional used luxury car dealership.