Buying a used luxury car. Is it a wise choice?

Does your heart skip a beat when a luxury car drives past you? Do you find yourself chasing a luxury car on the highway just to catch another glimpse of it? If so, somewhere deep down, you aspire to own a luxury car. And you may have already set your eyes on a particular make and model. Did you test drive it yet?
But the ownership of a luxury car comes with an extravagant sticker price. And that’s the reason why most people lean towards buying a used luxury car. You can easily get one at half the price, but is it a wise decision?
Luxury cars depreciate quickly, and there’s a reason behind it: high maintenance cost. If you buy a brand new luxury car, it’s going to be smooth sailing for the first five years. As the car enters its 6th year, its maintenance cost shoots through the roof and keeps increasing for the subsequent years.
If you think buying a used luxury car can save you a lot of money, think again.
However, there are smart ways to cut down your overall maintenance cost without cutting corners. Here’s how:
When it comes to logbook service, instead of going to the dealership, get it serviced from a local yet reliable car mechanic in Sydney. A car workshop, like Kismet Mechanical Pty Ltd, will service your car to dealership standards at a fraction of the cost.
And if you need to replace a faulty or broken part, you can buy genuine second hand parts from a local car wrecker to enjoy significant savings.
A luxury car is often touted as a status symbol, and that’s how it should be driven. If you are buying a used luxury car, reserve it for special occasions and events where you want to leave a great impression. The less you drive it, the less maintenance will it ask for.
How high should you aim for when it comes to buying a used luxury car?
Let’s take BMW as an example. On the one hand, we have the entry-level 3 series sedan, which falls under the luxury category, and on the other hand, we have the 8-series, which is uber-luxurious. As you move to the upper echelon, the maintenance cost increases exponentially. Did you know even the side mirrors of a BMW could cost you hundreds of dollars?
Most importantly, never buy a used luxury car without having it inspected by an experienced mechanic in Marrickville or wherever you are based. A mechanic can identify defects that you cannot see. Also, they will prepare a list of issues and how much they can cost you. Based on these insights, you can make an informed car-buying decision.