The main reason so many of us love to buy used is because the value is incomparable. Instead of spending that £10,000 on a small Fiat hatchback, you can spend that same £10,000 on something more imposing, more impressive, more luxurious. It seems like the perfect thing to do. It seems to make perfect sense. More car – and more status – for less money. That’s the argument done and dusted, right?
Well, no. You see, yeah, you get the badge and the status and all that, but owning a used luxury car comes with its fair share of cons you need to consider first, and here they are:
Ongoing Costs Of Luxury
Okay, so you’re car is going to hold onto its value tighter than Frodo held onto the one true ring, making depreciation less of an issue, but the running costs will probably do the same amount of wallet damage. That’s because maintenance and repairs and tax and all that can be mega expensive on old luxury cars that are no longer in warranty. It doesn’t matter whether you buy from a private seller, from https://www.carcliq.co.uk/ or a used car dealership because, no matter what, some expensive part will need replacing in the future. We’re not saying don’t buy because of this fact, we’re just saying it should be factored into your considerations.
None Of The Latest Tech
A lot of people want a used luxury car because of the luxury it offers, but this would likely lose out against what the new economy cars of today offer. Yes, a 2005 C-Class Merc may have been the king of the road in 2005, but compare it with a Ford Focus today and the luxury will favor the latter. Tech gets upgraded every six months, so if you want the latest then buy a newer and cheaper car. Things like Sat-Nav, Bluetooth, and all that stuff now comes as standard.
Go Further For Longer
One of the things that often goes unconsidered until it is too late is fuel economy, which can make a big difference over the course of a single year, nevermind several years. To put it as simply as possible, newer cars are far more fuel-efficient that older cars. They have to be. The advancements in tech have allowed this, and so have government initiatives to keep emissions down. To work out exactly what the fuel economy of yours is, check out how with this info http://auto.howstuffworks.com/fuel-efficiency So if an economic car is a high priority then you may want to look at getting a more modern car than an old luxury car.
Get The Dollar Together
Most people can’t afford to buy a car outright without some form of help, namely financing. However, it can be hard to find financing on a car that is over three or four years old, nevermind one that is creeping toward a decade. As such, you may want to phone your bank and see if they will offer finance on a car of that age and mileage before wasting your time, and the seller’s time too.