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  • We all know that when a car leaves the lot as a new vehicle it suddenly depreciates considerably. This is even more true for luxury cars. Initial depreciation can be steep for some luxury cars. - Source: Internet
  • If, however, you’re after a specific luxury car, then you’ll need to really do some digging to find one that is not only in good condition, but not too expensive. Before you go out and buy that car, though, I want you to think hard about the pros and cons of purchasing a used luxury car. Here are some pros and cons - Source: Internet
  • However, you likely won’t have much warranty left on the car if any when buying a used luxury car. For example, Mercedes-Benz offers a four-year, 50,000-mile basic warranty on its cars. If you bought a three-year-old Mercedes, you’d only have one more year of the basic warranty remaining. - Source: Internet
  • A used luxury car isn’t without its downsides. When it comes to maintenance, a luxury car’s costs will usually far outweigh the mainstream automakers’ costs. Buying used you’ll likely have to make some repairs far sooner than you would need to in a new luxury car. - Source: Internet
  • “Pre-owned cars are the absolute sweet spot of the car market. While most luxury cars are imported and levied with hefty import duties on purchase, it’s the second buyer that foots these costs, which explains the massive depreciation on the price tag over the years. This makes pre-owned cars hotly pursued in India,” says Ishaan Bharadwaj, car expert and Editor of The Race Monkey. According to a survey on the Indian pre-owned car market commissioned by Volkswagen India to Frost & Sullivan, by the financial year 2025, organised platforms will contribute 45 percent to the total Indian pre-owned car market. It also indicates a shift towards organised players offering better financing options to differentiate themselves from unorganised players and strong demand for used cars in Tier 2, Tier 3, and rural markets. - Source: Internet
  • “It is very important to know from who and where you are buying your pre-owned car,” says Ashish Merchant, partner at Brokerdalal Premium, one of Mumbai’s top used luxury car dealers. “A good dealer filters the clients and this will reflect on the car being sold. We prefer to buy cars from end-users such as top corporate leaders in the city. The advantage of this is that the cars are usually well-maintained,” Merchant highlights while pointing out that non-flooded, non-tampered, non-accidental cars are essential. - Source: Internet
  • Luxury cars aren’t just about the badge on their hood, though. These cars are often higher quality than their mainstream counterparts in many ways. The materials used are usually of higher quality the designs, while usually more cutting edge, are often a better design. - Source: Internet
  • Insurance is a necessity, and getting a good rate can be difficult. In most cases, a luxury car, even a used luxury car with relatively low value, will be more expensive to insure that you might think. Before purchasing, you should talk with your insurance agent to be clear on what insurance is going to cost you. - Source: Internet
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