Luxury is not just about the elite. Suppose we’re talking about purchasing luxury vehicles, so the better alternative is pre-owned ones. Pre-owned cars are among the most desirable for people who want luxury at a great price. Those who haven’t spent time or resources studying the second-hand luxury cars market appear to buy a brand new luxury car, which tends to be very expensive. But fret not; we have some tips to help you kick start your journey of buying a pre-owned luxury car in India and outside so that it may not burn your pocket. But let’s first understand why you should go for a pre-owned luxury car.
New Volume Car: Advantage
- You are the first owner.
- You have the benefit of the guarantee.
- You can choose exactly the one you like, with the color that you like.
- You have financing options.
- The car integrates newer technology: infotainment, navigation, etc.
- The design of the car will not get old quickly.
- You can reduce maintenance costs if you take care of it.
- Possibly, it will be a car with better fuel economy.
New Volume Car: Disadvantages
- The value of the car will fall faster than you would like.
- You may end up buying the car “you got enough for” and not one that you were excited about.
- You consider that you are paying a lot of money for a car with lower benefits.
- You have always wanted to say that you have a luxury car; it is a personal goal. But waiting to buy a new luxury car is not an option.
- You would like to drive a vehicle with a more powerful engine.
Used Luxury Car: Advantages
- Engine performance of used luxury cars for sale is what you expected.
- Although it does not have the latest technology, the interior finishes are of higher quality. In some cases, it may offer more assistance.
- It is a car that you like; you are fond of the brand.
- The most brutal hit of depreciation is over (that’s why you’re buying pre-owned exotic cars).
- It gives you status.
Used Luxury Car: Disadvantages
- Loss of warranty.
- More mileage.
- You do not know the actual conditions and the wear of the second-hand premium cars.
- Maintenance costs will be higher, not only because it is a used car, but because you need spare parts for a luxury car.
- Depending on the age, it may not integrate recent technology or a complete navigation and entertainment system.
- In no time, it will be a relatively old car-the luxury brand, but old-fashioned.
- Possibly you will spend more on fuel.
How Pre-Owned Luxury Cars in India Are Hitting The Bulls Eye!
India’s used luxury car demand is expanding twice as much as the recent luxury automobile sales. Inclusive growth in market segments, such as growing earnings for working women and accessibility to several target groups (small town, families with high disposable income), saw firms such as Droom and Truebil expanding. When it comes to the growth, sales of new luxury cars see an increase at the rate of 12% instead of the 22% growth in the purchase of pre-owned luxury cars, the source says. Both the used luxury car dealers and customers are delighted with the GST introduction because it provides an even playing field for both sellers and buyers.
Luxury Car Models To Consider
- Mercedes-Benz GLS
- Mercedes-Benz S-Class.
- Mercedes-Benz C-Class Petrol
- Volvo XC90
- BMW 5 Series
- Jaguar XE
- BMW X1 Petrol
- BMW X1 Diesel
The list doesn’t end here, though. From used BMW Audi, Mercedes for sale to luxury SUV second hand, there are many more luxury car brands that you can consider.
How To Buy A Pre-Owned Luxury Car In India Or elsewhere?
Since love is born from sight, most of the time, we will find vehicles that in photos and color are in excellent condition. But we must not go for the first impression since they can hide something. Generally in the descriptions, they indicate the condition, but for you to enjoy good second-hand expensive cars, consider these things and avoid the most common pitfalls when buying pre-owned luxury cars:
Buying A Used Car From A Private Or Retailer?
Private sellers tend to trade their expensive second-hand cars more cheaply than stores. However, in trade between private individuals, the buyer has almost no protection, and the seller has no responsibility other than that the car being traded and the official documents correspond.
Pre-owned luxury cars for sales are increasingly focused on the network. Popular services include online cars and garages. Both services have cars from both private sellers and shops.
Before selling a used car, check that the car’s inspection data is in order and vehicle taxes have been taken care of. If the car tax has not been paid, you will not be able to register the car in your name until the state’s obligation has been met.
What to visually check before buying the car:
- Look for any rust or moisture damage. Be sure to check the underside of the pre-owned luxury SUV car as well.
- Check the correct closing of the doors, the integrity of the fender, or the presence of any signs that could indicate damage to the frame.
- Be aware that there are no dents or blemishes in the paint to indicate that the vehicle has been repainted after an accident.
- Pay attention to possible scratches or dents.
If you notice any of these imperfections, try to negotiate a discount and if the seller doesn’t want to give in on the price, make sure he has the problems fixed at his expense before the transfer of ownership when you buy second-hand premium cars.
The mechanical parts that need to be checked:
- Make sure the coolant is clear and the transmission fluid is not black or oily.
- Check the oil and make sure it is not milky or frothy and that the brake fluid is not darker than the color of the tea.
- Check that no liquids drip from the engine and check that the drive belt is not damaged.
- Ask to take the car for a test drive and have the salesperson drive it while you sit in the passenger seat.
Vehicle History Research
When you buy used premium cars, ask to be shown the maintenance booklet with receipts for the various interventions. Then check that the seller’s name matches the name on the title and vehicle registration document. Finally, check that the car does not have a mortgage and is not subject to administrative detention.
Buying A Pre-Owned Luxury Car From A Private Or Retailer?
Before buying second-hand branded cars, check that the car’s inspection data is in order and vehicle taxes have been taken care of. If the car tax has not been paid, you will not be able to register the car in your name until the state’s obligation has been met.
Buying a pre-owned luxury car from a store is safer, as the stores mainly own the cars they sell and take care of the paperwork correctly.
Note: However, sometimes car dealers take cars into a sales account. That means a private individual sells a car and pays the commission only for maintaining and advertising the car. A car in a sales account is not subject to the standard six-month liability for defects, as otherwise guaranteed by law, for a used car to sell.
Be Careful With Paperwork
To shake hands with stores, you need at least the technical part of the register extract and the notification part. The technical part identifies the second-hand high-end cars for sale and provides its technical data and the next inspection date.
The notification part intended for the change of ownership records the buyer’s information, the date of sale, and, most importantly, the seller’s signature. If possible, make sure the signature is actually on the seller by comparing the seller’s driver’s license.
Important, though unfortunately not mandatory, the paper is a deed of sale that records seller, buyer, and car information, purchase price, and other terms of trade. Besides, a delivery note can be written that protects the seller more than the buyer of pre-owned premium cars.
How Much Are You Going To Spend When it’s Yours?
Prospecting expenses and doing a little research is essential since apart from the cost of the car, maintaining it involves amounts sometimes more significant than the purchase. That is why we recommend:
- Research the prices of the services of the model that interests you before you buy second-hand luxury cars.
- Check the costs of the parts that have the most wear.
- It is essential to know the useful life of the tires in case they need a change.
Ways To Buy A Pre-Owned Luxury Car
There are five ways to buy a used car, including a used car dealer, a used car search site, and a dealer. First, let’s take a look at the features and precautions of each.
Used Car Dealer
The most popular way is to go to your local used car dealership to find used luxury cars for sale. You can check the current car and test drive so that you can check every detail. On the other hand, some stores have a limited selection of products, and there may be no maintenance or warranty.
Used Car Search Site
The used car search site, which is familiar with commercials, is attractive because it collects information from a massive amount of used car information by narrowing down the conditions such as area and car model, price, and whether or not there is a car inspection. On the other hand, there are disadvantages such as not confirming the actual vehicle and the cost of land transportation if it is far away. Please note that some search sites have their guarantees.
The appeal of second-hand premium cars handled by dealers who have a dealership contract with the manufacturer is high quality and well-maintained, and supported. On the other hand, the price tends to be higher than that of generally used car dealers. Also, the models they handle are limited to those of the same manufacturer.
Buying and Selling By Individuals
The advantage of buying and selling between the owner and the individual is that you can buy cheaply without commission because you do not go through a trader. On the other hand, there is a possibility that troubles such as complicated procedures related to buying and selling, lack of maintenance, and guarantee may occur.
You can also ask an agent to buy your car at a second-hand cars BMW, Audi Mercedes auction that is only available to specialists. You can get the car you want at a low fee, but it can be difficult for beginners because it is not serviced or guaranteed and may require specialized knowledge.
Pre-owned Luxury Car Dealer’s Dirty Strategies
The Previous Car Owner’s Names Aren’t Being Revealed
Second-hand car dealers are smart players, and that’s why they are surviving in the pre-owned automotive market. Believe it or not, many car dealerships have standard criteria for describing about the previous owners. For pre-owned luxury cars like Mercedes, Jaguar, and BMW, they would say these vehicles were owned by hotels, businessmen, politicians, and defense officers.
But should you trust what they are saying? Absolutely Not! Don’t expect whatever they are saying is true until they show the genuine service record and the transfer-related documentations. It’s your responsibility to about the vehicle’s previous owners and whether your desired car was involved in any malpractices or not.
Not being able to produce enough insurance documents
Most vehicles parked in second-hand car dealerships are not insured; some tricks are also played by the previous car owners for maximizing their benefits. As a result, these car dealerships have tie-ups with local car insurance companies, also called third-party insurance agencies.
Furthermore, never expect the insurance you get is ideal for your needs and preferences. You cannot say NO to insurance, but you need to check the insurance papers that dealers don’t show. If you find the insurance isn’t worth it, ask your car dealer to change it or deduct the insurance amount.
The Repair Parts Aren’t Being Shown Correctly
Clutch pads, brake pads, tires, front and back bumpers, and the engine oil, these are things that should be replaced periodically. You might be a car enthusiast, but there are certain components you cannot check unless you’re a vehicle mechanic.
Fortunately, the car dealers know about the repaired parts, but they don’t share them with the interested buyers. Hence, never just blindly purchase a vehicle, seek assistance from car mechanics, go for multiple test drives, and then you’ll understand which parts are working fine and should be replaced.
Signing the car papers under duress in order to purchase the vehicle
The majority of vehicle owners consider the finance options while buying their dream vehicle. Now, these dealers are smart enough to understand your requirements and budget without even you telling them.
As a result, only those vehicle will be shown that meets your requirements but exceeds your budget. You fall into this trap, and he/she will try to grab your attention by even providing some additional offers. Ultimately, the vehicle you want to buy, you don’t get it, and you come back home with something else (It’s A Sweet Scam Played By Car Dealers)
Billing Unnecessary Prices Without The Buyer’s Consent
When you’re buying a pre-owned vehicle, hidden charges are common, but you can still avoid them. Most second-hand dealers make additional profits by slightly increasing the registration, transfer, and other servicing costs.
In our opinion, registration and transfer charges should be made clear before the deal is done. The dealer should either deduct the amount, and you take the task of vehicle registration and transfer. In a nutshell, ensure that you’re only paying the estimated vehicle cost and registration charges.
There isn’t a single rupee that isn’t negotiable
When you’re visiting different second-hand vehicle dealers, you’ll probably shortlist some vehicles. You’ll probably only shortlist the cars that are worth enough, fulfill your requirements, and come within your budget. This mentality already what every car dealer knows; hence, they never indulge in the negotiation part.
Initially, they will don’t indulge in the negotiation game, and later they play their dirty tactics. They start sharing the key features, how their car dealership is different, and what services are offered for free to the customers.
In the end, without indulging in the negotiation part, the dealer sells the vehicle, and you don’t get an opportunity to maximize your savings.
Be Wary of Car Dealers Who Sell Low-Cost Vehicles
This is the dirtiest trick played by most car dealers, and customers fall into the trap easily. For example, you’re planning to look for a BMW X1 model, and you find the same vehicle in two different car dealerships. Now undoubtedly the prices will be different.
Now, you’ll connect with the vehicle dealer selling your desired vehicle at a lower price. But, later, the hidden charges will burn your pockets, and you never know whether the car is 100% genuine or not. Hence, never fall the word ‘CHEAP’ every time getting trapped into the second-hand vehicle market is easy as a cakewalk.
Finally, remember that the important thing is that you keep it in perfect condition to enjoy it on the street and on the road, not so that it is in the garage. Of course, if you have just one idea to “show off,” a classic would be the best decision.