The thing about cars is that they will always lose value. Plus, newer and more luxurious cars will always be hitting the market. So, do you purchase a brand new luxury vehicle at the top of the price range or do you save a little bit of money and go with a used luxury car? Of course, there is the social stigma surrounding used luxury vehicles, but should that matter if you are on a budget and want a car that is little more comfortable than the run of the mill sedan? Indeed, it should hardly matter, but these are important considerations to make. Here are some factors to consider when deciding between a new or used luxury car.
First and foremost, it is important to know that cars lose a significant amount of value as soon as they roll off the lot. If you are paying top dollar for a luxury vehicle, you could be losing a lot of money. By purchasing a used luxury vehicle, however, the resale value and market evaluation has leveled off, so you won’t need to worry about losing too much money in depreciation. Also, in the realm of the auto industry, a car that is merely a year old is yesterday’s news, so you can often get a better deal on a used luxury vehicle.