What You Need to Know Before Buying a Pre-Owned Luxury or Exotic Car

Posted by Michelle Martinez on October 4, 2014No Comments

People are much more inclined, these days, to be a little more conservative when it comes to buying cars. The days of just buying a new car every couple of years because you want something new have all but disappeared. Everyone wants to get more for their dollars and know that they are helping to save the environment, as well.

One of the ways this can be done is to purchase a used car, instead of buying new. So it’s new for you, but since it’s been previously owned, it has already done the largest portion of its depreciation. It is estimated that a new care loses approximately 30% of its ticket-price value in the first two years off the lot. That is a lot of money to leave on the table. It is especially noticeable when you’re looking at luxury cars.

Really, the best value in cars today comes from pre-owned luxury cars. Generally built better with components that hold up well over time, used luxury cars are probably the best value in the car industry. Taking it to the next level, the best used car is a certified pre-owned car. While nearly every car manufacturer today has a whole division devoted to CPO cars in their product line, the idea started back in the late ’80s and early ’90s when Mercedes-Benz and then Lexus started their programs.

A CPO car has some benefits that a non-CPO car normally does not. One of these benefits is a rigid inspection process by the car manufacturer’s associated dealership that covers certain mechanical and cosmetic elements of the vehicle. These specified elements must pass this inspection to qualify for the CPO program for that car line. Another feature of a CPO vehicle is a warranty. Most car warranties have expired by the time they are traded in, so that means that most used cars are not covered under warranty unless you purchase something separately. A CPO car, however, will come with a warranty that extends past the original factory warranty included in the purchase price. Sometimes this warranty will come with new-car type perks like roadside assistance.

For some CPO programs, special financing is available – again, similar to new car programs – and many CPO cars will only qualify for their manufacturer’s programs if they are a particular model or if the miles do not go past a certain point. They can have no major damage, as well.

Whether a potential buyer goes with a CPO car or a non-CPO used vehicle, the fact is that buying used makes good economic sense. You haven’t lost a huge portion of the sticker price when you drive it off the lot, and those car lines that are famous for longevity are a good bet even if there are a few more years and miles on them. They will also have the same safety, performance and cosmetic bells and whistles when purchased as a used car that they had when new – and that is generally going to exceed most other mid-level vehicles. Getting all that for less with nick garulay is a good deal.

nick garulay and Ambassador Auto Sales are committed to providing you with quality pre-owned luxury and exotic cars. Check out their vast inventory today.

Leave a Reply

Your email address will not be published. Required fields are marked *