Seven Important Tips For Buying a Used Luxury Car
Seven Important Tips For Buying a Used Luxury Car
Posted on December 18, 2019
As the average luxury vehicle depreciates by almost twenty percent in the first year, and about fifteen percent every year after that, buying a used vehicle makes perfect sense for budget-conscious shoppers. Sharp buyers frequently score incredible deals on pre-owned luxury vehicles. Purchasing any used car has numerous pitfalls, however, and requires an extra measure of due diligence. Here are seven tips that should help.
Buy From a Reputable Dealer
Buying a used vehicle off the street is asking for trouble. Most people sell cars on their own because it has problems that will come to light if they trade it in. Also, if the vehicle has issues, a buyer has little recourse to get their money back from a private seller. Most reputable dealers won't put a vehicle on their lot that doesn't pass muster. When a car dealer takes a trade-in, the first thing they do is to pull it into the shop and fix whatever needs to be fixed.
Bring a Checklist
People have a tendency to see what they like about things and ignore the negatives. A checklist takes the emotion out of the buying process. It gives the potential new owner a clearer picture of what they're getting into. A good list includes things like checking tires, looking under the car for leaks or corrosion and testing the air conditioning system. In all, a useful checklist will have at least thirty to forty points of inspection.
Have the Car Scanned
Most, but not all, issues within the car's electronics and sensor network will cause a warning light to come on. A diagnostic scan is fast, inexpensive, and can reveal problems that may cost a bundle to repair.
Buy Online
Some car dealers nowadays only sell their used vehicles online. They get them at the auction, from other dealers, or off-lease. They save considerably by not needing to maintain a showroom and pass some of those savings on to the buyer. Many brick and mortar dealers offer internet specials not available to walk-in customers, as well.
Research, and Research Some More
Smart buyers do their homework and not only know exactly which vehicle, but also which trim, and what features fit their lifestyle. They research a wide range of model years and know what comes standard, what options are available, and what they should expect to pay for a given vehicle. They also have a fair idea of expected maintenance costs and resale value for their potential purchase.
Be Flexible
Buying a used car means buying someone else's taste. The first owner paid a lot of money for the privilege of choosing the options, the colors, and the added features that they like. Holding out for a panoramic moonroof or navigation, for example, could quickly turn what should be a fun and enjoyable buying experience into a headache.
Negotiate
Car dealers almost always have a considerable amount of room between what they're asking, and what they will actually sell a vehicle for. Many cars have a big gap between what the dealer paid at trade-in, and how much they're asking now. If they see that a buyer has a firm budget, dealers often come down in price to make the sale.