People are often torn between buying a new or used luxury car for many reasons. In some cases, it’s because they want the satisfaction of knowing that they’re the first person to drive the car. In other cases, they might have concerns about reliability and worry about the costs of repair. Buying a new luxury car can make sense for a certain type of buyer and be a horrible decision for another, so it’s difficult to tell which one is the best option between the two. Let’s take a closer look at the pros and cons of both options to help you in your decision.
Buying a New Luxury Vehicle Comes with Peace of Mind
One of the biggest benefits of buying a luxury vehicle is that you’ll know everything about its history. You can never tell how a previous owner treated a vehicle and what’s wrong with it, but that won’t be an issue if you buy the car new. You’ll also enjoy a full warranty and won’t have to worry about repairs on main components for a good while.
Buying Used Allow you to Curb Depreciation
One of the issues with buying a vehicle new is that you’ll have to deal with depreciation. Luxury vehicles depreciate at a much faster rate than regular cars too. So, it would be wise for you to at least consider waiting until a car is about two to three years old to buy it.
And, if you’re worried about reliability, all you have to do is make sure that you buy your vehicle from a reputable source. That’s why it’s always a better option to buy from a used luxury car dealership rather than a private seller. A used luxury car dealership will have taken the time to check the condition of the vehicle. If you buy the car at the right time, you could get a vehicle for a fraction of the price with a few years of warranty left on it.
Buying New Gets You Added Perks
Some of the perks of buying a luxury vehicle are only available to first-time owners. Most luxury car brands will have some sort of special club for owners, and you may not be able to join them. That might seem like a minor issue, but some of these clubs offer significant advantages that could allow you to save money in the long run and enjoy truly unique experiences. That might be a deal-breaker for some people.
You Get All the Best Features at a Bargain
Luxury car manufacturers can be lazy when it comes to adding new features and some of them have been using roughly the same design for some of their models for years, even decades (we’re looking at you, Porsche). So, buying a new car makes little sense if it looks identical to the one that was released two years ago. Unless you have a complete aversion towards someone else driving your car, it would be a much better idea to wait a little bit until you can get practically the same model for much less.
As you can see, the decision between buying a used and a new car is not as cut and dry as many people would imagine. Consider both options in detail and ask for second opinions if you’re unsure.