So over the four years you own the more economical car, you could see considerably more depreciation than you would over the four years you own the luxury car.
Of course this varies from model to model. Again, online forums can be of considerable service. BTW, your relationship with this person should begin before you buy the car. A pre-purchase inspection is an absolute must on any used car purchase. Over the years, American luxury cars have come to resemble their European counterparts quite a bit in terms of the way they are equipped, as well as the way they drive.
Further, in many circumstances, a Ford mechanic can handle a Lincoln and a Chevy mechanic can do a lot of work on a Cadillac. This could save you money. Seat belts, air bags, backup cameras, blind-spot monitors, rear cross traffic alert, smart cruise control, even keyless entry and push button start were featured on luxury cars first.
In many cases, a four-year old luxury car will offer more safety features than a brand new economy car at the same price. Like safety equipment, many of the commonly accepted comfort and convenience features routinely found in mainstream cars these days debuted in luxury cars.
The electric starter, automatic climate control, Bluetooth, GPS navigation, power windows, self-dimming headlights, power mirrors, and specifically tailored audio systems, all made their debuts as features on luxury cars. These days, features like soft-close doors, power-operated trunk lids, and smart windshield wipers are found primarily on luxury cars. We mentioned the most compelling reason not to buy one briefly in the introduction. That makes it possible to find a quality used luxury car that has lots of good life left in it and should run reliably well so long as you maintain it properly.
A used luxury car does have some potential drawbacks to consider before making a purchase decision. If you buy one that was not maintained properly, you likely will wind up paying for maintenance and repairs that should have been done long ago.
The cost of parts and labor to maintain and repair a luxury car generally is more than other vehicles, which can add up to high ownership costs. Insurance for even a used luxury car can be expensive. Part of the problem is the size and weight of luxury cars make them even more destructive in an accident. The average cost for injuries and property damage can be higher when an accident involves a luxury car that weighs significantly more than a standard passenger car.
If you finance the purchase, you also need to carry full coverage insurance to cover potential repair costs, which often run high on luxury cars with all of their special electronics and high-end equipment.
The fuel economy of a luxury car often is lower than smaller counterparts. A big engine, larger size, and greater weight add up to more drag and reduced fuel economy when compared to compact cars and mid-sized sedans.
The average cost to insure, maintain, repair, and put gas in a luxury car can make the cost of ownership rise quickly and make the purchase less affordable for many. Luxury cars generally enjoy a high-quality build at the factory. When their original owners maintain them properly and do not abuse the engines, lots of potentially great deals await the savvy used car buyer.
Finding one takes some research, patience, and a little luck. Kelley Blue Book is a commonly used resource for looking up the value of used luxury cars.
You can compare that value and the various options listed against the cars you are eyeing. Those with relatively low miles and are priced at or below the Blue Book values are generally good options. You also should check for maintenance and reliability issues with specific models. Many luxury cars have expensive electronics and other items that are costly to maintain, repair, or replace. The same goes for suspension parts and other common wear-and-tear items that need regular maintenance and repairs.
The availability of parts and labor rates to work on luxury cars will have a big impact on whether or not you have a potentially great deal awaiting. Join today, and start enjoying all the benefits of membership! Become a Member. By clicking "OK", you acknowledge that you are leaving the Spero Financial website. We encourage you to read the privacy and security policy for the site, as it may differ from that of Spero Financial's.
Go Back OK. Savings Accounts We all have hopes and dreams. Digital Banking. Financial Wellness. Your Money Matters Visit our online financial education portal to view and complete courses on budgeting, debt management and more. Auto Loans. Competitive rates. Flexible terms. When it comes to buying a car, you have a lot of decisions to make!
The choices can seem endless. Scam Report: What to do if your online order never arrives — and how to get your money back.
0コメント