As you step into the second-hand vehicle market, you’ll find many pre-owned luxury cars at the price of new compact sedans. Does it sound mind-boggling to you? Nowadays, if someone wants to purchase any vehicle, he/she researches on the internet and watches many YouTube videos where these used luxury prices are available at dirt-cheap prices.
Believe it or not, you can get a used Mercedes model at the price of Volkswagen Vento. Above all, such deals are actually not fake, but are they really worth it? Stick to this post until the end, and you’ll come to a conclusion whether purchasing a used luxury vehicle is advantageous for you or not!
Do you think buying a pre-owned luxury car is a good investment?
Let’s say you’re having a budget of INR 6 Lakhs – INR 7 Lakhs, which is a good amount for getting a family hatchback. If you research and wait for the festive season, you can also get a compact family sedan. On the same budget, you can look for some second-hand premium cars like Honda Accord, Skoda Laura, and Honda Civic.
Believe us; you can also get a brand new condition Mercedes or BMW in the same budget. Sounds tempting. Should you grab such luxurious vehicles?
If you don’t have much experience in maintaining cars or being a first-time buyer, stay away from all the second-hand luxury cars. When you have a good experience of maintaining the vehicles, you have a clear picture of different segment vehicles’ expenses. This is where a brand new hatchback or compact sedan and the used luxury vehicle are different.
All those luxurious Mercedes and BMW are premium segment vehicles; their spare parts costs are higher. Such cars are actually designed for the premium segment of people because they never hesitate to spend on luxury. Luxury cars are expensive to maintain, and that is not everyone’s cup of tea!
Fast benefits of buying a luxurious pre-owned car
First and foremost, you’re getting 2nd hand luxury cars at dirt-cheap prices. Driving a Mercedes E Class is far better than using Honda, Maruti Suzuki, and Toyota vehicles. This is one of the most tempting reasons to fall in love with used premium segment vehicles.
Most advanced safety features are first equipped in the used luxury cars. For example, cruise control and airbags were first introduced in Mercedes and BMW vehicles. In our opinion, if you buy a five years old used luxury car, it would have better safety features than today’s latest hatchback.
Better Comfort And Convenience Features:
Like safety features, most convenience and comfort features were introduced in the premium segment vehicles. Climate control, power windows, auto parking, power mirrors, etc., debuted in luxury vehicles. All the latest comfort and convenience features will still be available if you buy a second-hand luxury car.
Every vehicle loses its value after each kilometer and day passing, some cars lose quickly, and some take time. These luxury vehicles lose their depreciation value once the warranty period is over. As a result, after three or four years, such a car would be available at nearly 60 percent less than the actual value.
Are The Pre-Owned Luxury Cars And Used Cars identical?
There is a huge difference between everything in Mercedes and Toyota showrooms. The same is with their vehicles, maintenance costs, and other similar things. In the second-hand vehicle market, most 2nd hand premium cars are parked indoors instead of outside.
In other words, dealers will give more preference to a used Mercedes vehicle than the Toyota. Furthermore, the used cars and pre-owned luxury cars are not the same in the market. Some pre-owned luxury cars for sale are available in the second-hand vehicle market in the warranty period.
Some of them are just a couple of months old or very less driven. Such economical hatchbacks and compact sedans are actually not available in the second-hand vehicle market.
In simpler words, there is a huge difference between used cars and pre-owned luxury cars. For a clearer picture, you can research on the internet and talk to someone who has driven both economical and premium segment vehicles.
Buying a used luxury car will result in immediate financial savings on depreciation and offer a higher resale value
Lower Insurance Costs:
One of the compelling benefits of buying used vehicles is lower insurance costs because the premium amount is reduced. The premium amount is higher when you’re buying a brand new vehicle. For example, the insurance cost of pre-owned premium cars is slightly lower than the brand new sedans.
Lower Registration Fees:
The registration fees depend on your vehicle class and actual value. The registration fees are higher in the initial three years, and later it falls down quickly. Hence, when you’re buying a used vehicle after the three years of its manufacturing date, the registration fees would be lower.
Brand New Condition:
Not every car owner is the same; some keep their vehicles always in top-notch condition; some just use them roughly. As you’ll look for a used vehicle, most cars will be available in their brand new condition with minimal dents and scratches.
When you work with reputed car dealers, they offer a comprehensive warranty on both second-hand prestige cars and economical hatchbacks. This warranty is hugely beneficial because the dealer will pay for repairs and maintenance for vehicles in the warranty period.
If you are thinking of buying a Pre-Owned vehicle, take these few steps to help you choose the best fit:
Engine Check (The Most Crucial Things):
Initially, you need to check the engine bay’s condition; dust is OKAY, but signs of oil spills are a warning sign. Plus, the battery, wires, and other electrical components shouldn’t be covered with corrosion. Second hand high end cars of previous generations were vulnerable to corrosion.
While checking the gearbox, see whether the clutch pad is having some rusting or not. If yes, then the clutch would malfunction anytime and produce a burning smell. Plus, if the gear shifting is too hard or engagement is delayed, it means the gearbox is faulty and such vehicles should be avoided.
Transmission Oil Check:
To check the transmission oil fluid, remove the dipstick and see how the transmission oil container’s condition is. If your chosen luxury SUV second-hand transmission fluid is pinkish or reddish, it means the transmission is excellent! Above all, check whether the transmission fluid container is leaking. Plus, the fluid level should be above the borderline.
Engine Back Compressor Check:
Start your vehicle, put it into the neutral gear, and keep an eye on the engine. If a slight mist is coming out, it means the engine back compressor or ‘Engine Blow By’ has occurred. This issue occurs when the PVC pipes are choked and servicing is not done appropriately.
Engine Heating Check:
For example, your chosen BMW M5 second-hand engine releases some smoke or any warning sign is occurring on the dashboard; it means your engine has heating issues. You need to avoid the vehicle having engine heating issues.
Engine Temperature Check:
Here you need to ask the thermostat from your mechanic friend and place it near the thermostat housing of the engine. As the engine will warm-up, the temperature will increase; if it surpasses the warning level, red flags are directly up!
Bill And Bearing Check For Suspension:
Take an example, while test-driving your BMW X7 second-hand shows some rough signs; there is something wrong. Jack up your vehicle and see whether the bill and bearing have some signs of damages or not. Plus, push the brake pedal abruptly and analyze how the suspension system works.
Test drives your vehicle, look for the warning signs, and try shifting the gears continuously. Drive your chosen used car on speed breakers and check the suspension quality. If the wheel alignment isn’t working fine or your gut feeling isn’t strong, get away from that vehicle.
Brake Pad Check:
Jack up your vehicle and see the quality and condition of brake pads. The brake pad’s thickness will determine the quality, and they should be thick enough. If you feel they are thin, a replacement of brake pads would be needed.
Meter Tampering Check:
Let’s take an example, you have chosen Audi A4 second hand, and if you realize some finger marks near the odometer, it means meter tampering is done. Plus, the vehicle’s condition and service records will give you an idea about whether meter tampering is done or not.
Door Opening And Touching Check:
Most second-hand expensive cars don’t have problems with doors or locking systems. If there is any problem, it would be reflected in the dashboard, or else you can check the lock manually.
Tyres Quality Check With Treads Level:
If there are fine lines, also known as ‘wear bars,’ inside the tread blocks, it means replacing tires is required. If some nails and stones are stuck inside the tread blocks, that’s a warning sign.
Buying pre-owned luxury vehicles at the price of a compact sedan sounds tempting, but you also need to consider the additional costs. Such luxury vehicles deliver low mileage, maintenance cost is high, and you cannot use them roughly. If your pockets can handle all the costs of a used luxury vehicle, you’ve achieved a significant milestone in your life.
Congratulations In Advance For Your Upcoming Luxury Vehicle!