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Do you think it's a bad idea to buy a used luxury car? I'm seeing Benz', BMWs, and Jags in my price range. I'm just afraid of high maintenance costs if the car should breakdown.
How much more expensive is it to maintain a luxury car?
Do you think it's a bad idea to buy a used luxury car? I'm seeing Benz', BMWs, and Jags in my price range. I'm just afraid of high maintenance costs if the car should breakdown.
How much more expensive is it to maintain a luxury car?
I would avoid a used/older German luxury car like the plague. The only used luxury car I would ever consider and have purchased in the past is Lexus. Sold it at 153k miles and it still felt and ran flawlessly.
Last edited by louie0406; 07-29-2014 at 09:26 PM..
My biggest issues with luxury cars are the issues with air suspension that will pop up as early as 5 years old. In my experience Toyota's are more reliable when it comes to air suspension systems, but they will fail eventually and are ridiculously expensive to repair.
My biggest issues with luxury cars are the issues with air suspension that will pop up as early as 5 years old. In my experience Toyota's are more reliable when it comes to air suspension systems, but they will fail eventually and are ridiculously expensive to repair.
First of all, driving an old BMW or MB does nothing for your status. If anything, it says you are desperate and poor. Second, they could be a basket case. We bought an 8 year old 1996 BMW 733 years ago. It was gorgeous to look at but it developed problems nobody could fix. It would randomly shut off. Imagine the embarrassment of sitting in a dead BMW 7 at a traffic light. A light would come on warning us of some impending doom with the transmission. May be you have a better luck with Japanese.
Disregard the negative uninformed responses. Used luxury cars are a bargain and the way to go over brand new. Let the first buyer take the huge depreciation hit as you walk off with a steal. With anything, you have to be smart, plan ahead and research.
I've onwed Acura, Lexus, BMW and Audi all preowned with great results and satisfaction. German luxury vehicles will give you a much better driving experience than Japanese and will hold up much better over the years interior wise including styling. Get a model at least 4 years old and look to save over 50% of the original sticker price. Better yet, you may be able to swing a certified preowned vehicle or something with factory warranty left which is recommended. If not, no biggie. There are expensive 3rd party extended warranties out there but if not verified by solid sources and known to pay out, most are worthless so I'd skip them. They rarely cover what you need and will fight you on every claim.
Be smart by not buying with high mileage, researching on New Cars, Used Cars, Car Reviews and Pricing - Edmunds.com, avoiding first model year vehicles, avoiding known problem vehicles, grabbing CarFax and Autocheck and dealer service histories, and having a Pre Purchase Inspection done at a reputable Japanese or German shop for about $150 (This is most important!!).
Stay away from the dealer except if necessary which is rare. Every repair on a German vehicle is not $1,000. Find a reputable independent specialized shop close to you and get to know them well. Talk to them, ask for advice, use them for maintenance and service as they will save you a lot of money. If properly maintained and typical preventive maintenance done, you'll be changing oil, fluids, brake pads on these vehicles just like any other vehicle. You can find discounted wholesale parts from most online authorized retailers and take them to any reputable shop who is pretty knowledgeable.
Heck, for $30,000 give me a 2011 Audi A6 or BMW 5 series with 50,000 miles on it all day over a brand new appliance like a 2014 Honda Accord or Toyota Camry. I guarantee you in 5 years even with 100,000 miles the Audi or BMW will drive "newer" than your 5 year old basic sedan. People are still driving their luxury BMW, Mercedes and Audis 20 years later because there has been no need to replace them, they held up, were taken care of and still provide satisfaction.
Be realistic in your expectations. Don't expect a nightmare, but don't think you can operate it at the cost of a Corrolla. You want an appliance to get you from A to B with no worries? You know what to buy. You want a luxury performance machine that inspires driving with optional sports packages that will put a smile on your face each time you leave the garage and give you reasons to take the long way home? You want a vehicle with industry leading engines, handling, technology, stereo and safety? You want a vehicle that in 5 years you are still satisfied with it and could see yourself driving it another 5 or 10 years? The choice is yours.
Of course, proper planning is the key to everything. Pay the car off as quick as possible. Set aside or build up $3,000 as an emergency stash for surprise big ticket items so you won't be caught off guard. Paying a car note, repairs and maintenance is what kills people. But a paid off luxury vehicle with only minor maintenance and repairs here and there can be a normal enjoyable car ownership experience.
Do you think it's a bad idea to buy a used luxury car? I'm seeing Benz', BMWs, and Jags in my price range. I'm just afraid of high maintenance costs if the car should breakdown.
How much more expensive is it to maintain a luxury car?
What kind of car do you have in mind? Make model year? What are your price range?
It's not a bad idea. If you have never own one, you should. Life is all about experience. You jus have to choose right.
Stay away from Audi. They look and drive nice, but the repairs will kill you! I know several people who bought pre-owned Audis and couldn't wait to dump them.
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