Do you want to buy a luxury car but don’t have $100,000 to spend on it? If this is the case, you may be happy to find out that you can spend 50% of this amount and still buy a very nice luxury vehicle. Used car sales have been skyrocketing in the United States over the last couple of years. The digital age has brought buyers and sellers closer. In fact, you can now find luxury cars anywhere in the US in just a couple of minutes using Google or dedicated websites. But does this mean that buying a used luxury car is easier? No. There are indeed tens of thousands of luxury cars for sale all over the Internet. Some of them have unbelievably low prices, and this should really worry you.
Should You Buy a Used Luxury Car?
If this is what you want, and you can afford it, then yes – you should buy a used luxury car. There is nothing wrong with owning a luxury vehicle. However, there is one major problem with used luxury cars: they are still very expensive. A 2015 7-series BMW can cost as much as $40,000. With this money, you can most definitely buy a brand new car, even if it’s not a BMW. But if you have the money and you want a luxury car, the 7-series BMW is a very good option. It’s reliable, sturdy, luxurious, and very comfortable.
But what about a 2015 7-series BMW that costs just $20,000? It looks like an awesome deal, doesn’t it? You get a luxury car for 20% of its original value. While this may look like a great deal, you should stop and think about it for a minute.
The Dangers of Luxury Cars for Sale Ads
You can find hundreds of car that are advertised as being in mint condition and that have unbelievably low prices. 99% of them are sold by private sellers. But why would somebody pay $100,000 for a car, drive it for 50,000 miles over 5 years and then sell it for just 20% of the original price? It’s just too good to be true.
An inexplicably low price for a luxury car is usually a clear sign of attempted fraud. In many cases, the car has been involved in a serious crash and then repaired. In other cases, the car has been stolen and its paperwork is most likely fake. Many of these cars have had their odometers rolled back. The real mileage is likely over 200,000 miles.
Bottom line, you should avoid advertisements that look too good to be true. A luxury vehicle that’s just 4 or 5 years old and has less than 80,000 miles on the clock rarely costs less than 50% of its original price.
Who Can You Trust These Days?
There are more than enough luxury cars for sale in the US at any given moment. You have plenty of options to choose from. Use your common sense and stay away from advertisements that are too good to be true. If you want to make sure you won’t lose your money and get a faulty or poorly repaired vehicle, deal with a trustworthy seller. Even though there are honest private sellers who are looking to sell their luxury cars for a fair price, you are still safer dealing with a company.
A used car dealership will always inspect each vehicle before putting it up for sale. These companies are responsible for the cars they sell. Also, it’s almost impossible for a large car dealership to just take your money and vanish (like a private seller could do).
Our Honest Advice
Because we are talking about luxury cars, we would advise you to not only buy the vehicle from an established car dealer, but also make sure the car is Certified Pre-Owned. You will get a warranty and the company selling the vehicle will certify that the car really is exactly as advertised. These vehicles have been thoroughly inspected, serviced and refurbished. A CPO luxury car will please its new owner for years without requiring major repairs.
When choosing a dealership, always look at what other clients had to say about it. Nowadays it’s easy to find reviews about almost anything online. Do your homework before you do business with a company and research it and its history. If more than 500 customers gave the company an average rating of 4.9 out of 5, you can be certain that the company really is as reliable as advertised.