The resale business is one of the booming industries whether it is pertaining to properties or in automotive. Reputed auto showrooms and dealers nowadays take up sales of used cars quite seriously. Speaking about resale of cars, the discussion remains incomplete without the mention of the spectacular hike in the resale market of prestige cars. The demand for used luxury cars has set a benchmark in the recent years with demand growing up to 30%. Perhaps, the difference you strike between a brand-new luxury car and a used is simply that of price, when you are purchasing a car that is used for only 2 to 3 years.
If you have always dreamt of a luxury drive in your own car, feeling the soft, comfy leather, edgy tech features, exotic elegance, investing in a used luxury car can make your dream come true. You can park and boast a BMW or Audi, Genesis or so on in your own garage, with a little discretion of the used car selling market. Besides, even before you indulge into market study it is always wise to know your line of benefit in such an investment.
-
Price
Buying a luxury car means pouring a heavy amount of your savings or earning. Even if you are buying such a car on loan, you can think of the EMI and you know the chills that runs down your nerves thinking about the interest. However, the dream of riding prestige cars, experiencing the excellence, elegance and comfort is incomparable. However, you can bag all of that you have dreamt of, by a smart investment into used luxury car. Used luxury car brings a luxurious BMW, Lexus or a Mercedes within your garage shed in your comfortable budget.
-
Depreciation
It is all connected to the depreciation rate of a luxury car. The moment you buy a new car and start driving its price starts depreciating remarkably. Within two years, it has already depreciated by 30 to 50% while you will still be paying the EMI for a brand-new prestige car. In respect to the market depreciation value, it perhaps seems smarter to invest in a secondhand luxury where you will budget leniency as well as negligible depreciation rate as well.
-
Reduced Auto Insurance Premium Rate
The auto insurance premium is calculated in respect to the current market value of the vehicle. As discussed above the depreciation rate of a brand-new luxury car is quite higher compared to the same car that is bought secondhand. Therefore, even the insurance companies charge higher premium rates for a brand-new prestige automobile compared to a used one. Since auto insurance is something you simply cannot overlook if you intend to take your car out on the roads, buying a used luxury SUV makes much more sense, calculating the premium you would require paying from your pocket. However, if you are buying a used luxury vehicle do not forget to transfer the insurance ownership in your name.
Besides the budget, it is all that you gain by investing in used prestige cars. It seamlessly makes sense that luxury cars are any day better, improved, jampacked with modern safety features to driving tech support compared to regular cars. You can always research online about any car model that you are interested in and its features and accordingly select a luxury car. However, by no means there is a way to lose when you have a budget frame, a dream, and the desire to own a luxury car, and you decide to take a used luxury car. All you need to do is settle down for a deal with a reputed and reliable car dealer, who deals in quality only.
