Benefits of purchasing pre-owned luxury cars

But showing value for money, they prefer going for a pre-owned luxurious car to fulfil their desire while maintaining their financial stability. Despite a price hike in new cars to comply with the BS-VI norms and a long waiting time due to the semiconductor shortage are factors amplifying the demand for pre-owned luxury car, there still exists a section that is skeptical about the authenticity of a pre-owned car. People are of the misconception that purchasing a pre-owned vehicle comes with a lot of hidden problems. But during the pandemic, the segment saw the emergence of many organised players who strived to give end-to-end advanced solutions and products in the pre-owned car segment.

The players are offering a wide gamut of advantages by bringing about the integration of online and offline assets. Luxury Ride is one such final shopping destination for pre-owned luxury. Let’s elucidate on the benefits of purchasing a pre-owned luxury car.

Affordability

Breaking the notion that luxury cars are extravagantly expensive, pre-owned luxury cars come within the same price range of a new economical car. It comes with the backup of authentic services where the car is well-maintained and just a few repairs render the cars almost brand new. Also, the enhanced features, high comfort level with precise attention to the safety at the price of an economical new car is any day a better bargain.  

Advanced Technology with high-end features

Going beyond mesmerising designs and impeccable styles, the several features backed up by advanced technology is the major USP of the luxury car. The high-end engines are responsible for superlative performance while maintaining the comfort of the car. Luxury vehicles coming with the advantage of blind-spot monitors, backup cameras, airbags, smart cruise control, push-button start, keyless entry, seat belts and other electronic features provide an unrivalled sense and an exquisite experience. It delivers sumptuous performance and a premium driving experience that cannot be fulfilled by the economical cars.

Slow depreciation rate

The depreciation rate of the car rapidly starts plunging the moment it is driven out of the showroom. The depreciation rate was high in the early years of luxury cars. In the first year itself the value declines by 25-30% and consequently in the second year there is an added depreciation of 10-15%. This provides an opportunity for the pre-owned luxury car buyers to avoid the heavy depreciation rate while getting a good rebate as the price of the new car declines significantly even when the car is driven only for a few miles.

Low rate of insurance

Purchasing a car insurance is a prerequisite irrespective of new or pre-owned car. Here, insurance for pre-owned cars comes at an added advantage of relaxed premium in comparison to the higher premium levied on the insurance of new cars. Along with this, the registration fee for a pre-owned car is also much cheaper in comparison to the new car which invariably depends on the transaction amount of the car.   

Extended warranty

A leverage of extended warranty comes with the pre-owned luxury car depending upon the year the purchase of the new car. This is an extended benefit that cannot be availed on purchase of new cars.

Backup of inbuilt accessories

The pre-owned luxury car is backed up with inbuilt accessories like stereo, TV, GPS systems, etc. that are not provided in the first-hand cars. This is a lucrative offer as the buyer doesn’t need to spend an extra penny to set-up the car.

The advantages listed above are indicative of the fact that opting for a pre-owned luxury car is a good bargain instead of going for a new economical car. Moreover, when you take your car out for a ride, nobody will be able to recognise whether it is a brand new or pre-owned car. For hassle-free experience, Luxury Ride is the best option that strives to deliver the best seamless services and helps in making the right purchase in the limited time period. 

(Sumit Garg is the MD and Co- Founder of Luxury Ride, a final shopping destination for pre-owned luxury cars. The views expressed in the above article are solely the author's and do not reflect the opinions and beliefs of Motown India or its affiliates)