It is no secret that luxury cars go for sale at a premium price. However, the resale value of these vehicles experiences a significant drop just a few years after. They will likely still be pricey, though at least you can avail a used one for a lot less money. This means you can get an expensive car that’s only several years old at a fraction of the original price! You will find many luxury cars from an Audi to a Mercedes to a BMW on the market, though you need to be attentive and vigilant when buying secondhand.
West Coast and East Coast luxury used cars dealers might make it sound like you a have a great deal and you will only discover that you have been shortchanged later on. Below are some tips that will save you time, money, and trouble:
- Run a scan on the car
Luxury cars were made with the expertise of top engineers and the use of high-tech equipment. Those sedans always come with all sorts of computers, controllers, modules, and sensors. You need to subject the vehicle to a full diagnostic scan by a qualified technician to confirm that everything is in proper working order. Diagnostic scans are usually fast and cheap, though they will reveal things you need to know.
- Inspect and update it
It is recommended to have a Pre-Purchase Inspection (PPI), preferably conducted by a dealer. This involves an inspection by a trained technician who will survey the condition of the roofline to the rims. This should bring you some peace of mind. If they find any problems, you can choose to bring this up in the negotiation process. Software updates might also be necessary to ensure that the car runs as efficiently as possible.
- Avoid units with air suspension systems
A lot of top-line vehicles come with air suspension, though we recommend skipping it. These systems are often the source of many issues from mechanical failure to leaks. It does have its benefits, though the repair costs might offset the money you were able to save! While you are it, you might want to add warranty coverage as well to ensure you against sky-high bills from the mechanic.
- Ask about modifications
You need to ask if the former owner has modified the original piece. It is your right to know as it might be the source of future mechanical issues. If they have modified it extensively using cheap parts, it might not be worth it. Common upgrades like music equipment or computer chips should be fine. However, suspension modifications and the like might prove to be more troublesome than you want.
Second-hand luxury cars can be great investments, though you need to take the time and effort to ensure that it is in good working condition. Moreover, you also need to consider the additional costs that will come in the future. You might be able to buy it, though you might be surprised to learn how much money you need to keep it functioning. Keep in mind that this endeavor involves pricier repair costs and premium fuel among other things. However, if you do everything listed above, you might just soon be the owner of an excellent used luxury car!