How to Get a Good Deal on a Used Luxury Car

How to Get a Good Deal on a Used Luxury Car

Before you find yourself succumbing to the overwhelming confusion and information overload that often accompanies buying a used car, take a step back to consider a few things. First, buying a used luxury car is a savvy financial move because it protects you from taking the first-year depreciation hit that inevitably comes after purchasing a new high-end vehicle. Second, getting a good deal on a used luxury car is possible when you approach the decision armed with the following information:

The internet creates competition.

The rules of basic economics are totally in play when buying a used car: greater competition generates lower prices. The internet is a giant used car marketplace where used car sellers, both private parties and dealers, have to compete with each other for your business. Using search parameters such as make, model, mileage, and features, you can quickly get a picture of how much the car you want is selling for in your area. Googling “used BMW for sale in Houston, TX,” will bring up dozens of cars for you to consider. Having a clear picture of the market will help you get a good price on the vehicle of your choice.

You can find out everything about the car you want.

It’s true. In the past, used car buyers at best met the current seller, drove the car, and maybe got to see sparse maintenance records shoved away in the glove compartment. Nowadays, you can run full background checks on any vehicle you’re considering. A vehicle history report will confirm the odometer reading, detail the car’s ownership history, and recount any accidents or flood damage. You can also read online reviews of the make and model you’re interested in and test drive the specific vehicle in person. You’re much less likely to get a lemon when you’ve done your research.

Certified pre-owned programs take all the risk out of buying used.

Luxury car brands like Jaguar, BMW, Lexus, and Mercedes offer certified pre-owned (CPO) programs. CPO vehicles are the cream of the used car crop; only late model year cars with limited mileage even qualify for the program and these lightly used gems are then further inspected, repaired, and returned to factory fresh condition. CPO cars also typically come with a generous warranty and access to all the outstanding customer service perks that make owning a luxury car so…luxurious. Obviously, the CPO certification comes at a price, usually about ,000, but that’s a drop in the bucket compared to the money you’re saving by buying used.

The Bottom Line

Buying a used luxury car is a great choice. If you know how much the car should cost, you’re more than halfway there. Doing your research on the specific car and considering a CPO vehicle will ensure that your used car buying experience will be a good one.

About This Author

Bemer Motor Cars Joined: October 12th, 2020