Going for a used luxury car instead of a new one comes with many advantages. You get to benefit from the steep depreciation these vehicles suffer after the first few years, and, depending on how the vehicle was treated by the previous owner, you might have a vehicle that looks and runs just as good as new.
You do have to be careful with those vehicles, however, as repair costs are much higher and there’s a good chance that you’ll have to deal with a major repair at some point. Choosing the wrong make or model could also lead to horrible consequences. Let’s take a look at some of the mistakes to avoid when buying a used luxury vehicle.
Not Researching the Manufacturer
You can’t just pick a luxury vehicle model or brand just because you are in love with it. You have no idea what kind of issues the vehicle might be known for and how respected the brand and model are by the public.
That last part is very important as you will probably want to sell the vehicle after a while. If it has a bad reputation, it might lose a lot of value and be almost impossible to sell once you’re done with it. So, before you pick a vehicle or brand, look up its record on safety, reliability, and how much repairs/parts cost.
If you were torn between an Audi and a BMW, for instance, then we would strongly suggest that you go with an Audi as they have a much better record on pretty much all the factors we mentioned. And, if you get a used Audi Chester from a reputable supplier like RIX, you’ll get a vehicle that is thoroughly inspected with a verifiable history. This will remove much of the headaches and reduce the chances of you ending up with a lemon close to zero.
Buying it too Soon or too Late
The goal when buying a used luxury vehicle is to pick it up right when the depreciation starts decelerating. If you can, you also need to pick it up a few years before it’s off the warranty. There are some cases where you can make an exception, like if you’re getting an insane deal or if the vehicle is in great condition and from a reputable manufacturer. But, in most cases, it’s better to go for a car that is still under warranty and get rid of it right before it ends or soon after.
Not Test Driving the Car Properly
It’s so surprising how many people want to buy a luxury car but still don’t know how to test drive a car properly. This is a major investment you’re making here, so you can’t just test drive the car around the block. Take it on a faster run to see if there are issues at higher speeds. Test the direction, the brakes, and cut the stereo so you can hear strange noises. If you notice any, ask the salesperson what the issue is. If they brush it off, see it as a red flag and consider going elsewhere.
These are only some of the mistakes you should avoid at all costs when shopping for a used luxury car. Take the time to speak with as many suppliers as you can and don’t settle until you find a deal that works for you.