That dream that you saw once is on the verge of becoming your reality today.
You might get your hands on your favourite variant, and that too is under your budget. You are living your best life- and boom!!
You come to know from your dealer that your car is seven years old, and now you’ve drowned in the ocean of scepticism.
You keep questioning yourself whether you should buy it or not?
You don’t want to let this deal slip your hands, but you are scared things might not go as you expected.
We get you. We understand your scepticism and your pain. This is why we have answered your burning questions in this blog.
So sit tight and stick with us till the end to get the answers to all your questions.
- What difference does the car’s age make?
As recent studies show, the average age of cars today is 12 years. This is pretty good as you can keep your brand new car for at least that long.
But this is subjective to many things- (a) how well the car was maintained? (b) whether the buyer replaced any major parts with local substitutes? (C ) whether the buyer modified the car? (d) driving styles and many other things.
For instance, if the car (A) was maintained well, and driven safely on the road and car (B) has a bad accidental history with extensive modifications. Then chances are, car (A) will sustain longer than the car (B).
Similarly, the parts of an older car will start wearing out with time, and it becomes a task to get the car insured and under warranty. This is why age becomes an important factor while buying a used variant.
Moreover, models whose parts are unavailable in the market become a headache that no one wants. So yes, the car’s age matters.
Furthermore, the lex loci is another thing that one should consider while buying a used variant. As per the government of Delhi, diesel cars older than 10 years and petrol variants older than 15 years are not allowed on the roads.
This is the main reason why buying a car older than this is not a great deal in some cases.
- What other factors should one consider apart from the car’s age?
A car older than 7 years is still a great option if the car is in good condition. Other than the age you must consider these things-
(a) the maintenance history,
(b) servicing and modifications history and,
(c ) insurance claim history- to be aware of any major accidents.
All of this will give you a brief idea of the car’s conditions and whether it is worth buying or not. Many of these cars are less driven but, their age keeps increasing- thus, it is possible to find variants whose parts are intact but are older.
Hence age does matter but, it isn’t the only parameter on which you should judge the car.
- What are the pros of buying pre-owned luxury cars older than 7 years?
You probably know the biggest pro of buying a used variant is that you save a lot. These cars depreciate a lot in their initial years of purchase- so when a person buys them, they save a lot of money. Because the car’s value has been depreciated 20/30 % to what its initial value was.
Hence, it’s a good way to get your favourite variant- just wait for 2-3 years, and you can get it at an affordable price.
Another thing is, if you are looking for a variant for the time being, then you can benefit from buying it old. Buying a used luxury variant that has less mileage on it but is old can get you a good deal, and you can drive it as you like. As far as the servicing and maintenance are concerned- an extended warranty and comprehensive insurance can cover most of it.
- What are the cons of buying pre-owned luxury cars older than 7 years?
A major con could be the car’s life. You are buying it second hand, and the life of this car has decreased from 15 to 7years. But this isn’t that big of a deal if you aim to keep the car for 5 /6 years only. After all, you are getting it at such low prices.
With time it gets difficult to replace the car’s parts because of unavailability. But if you get an extended warranty, it wouldn’t be your responsibility anymore. A manufacturer’s warranty is all you need to stay on the safer side.
But the pro here comes with a con too. You are getting a car at low prices because it has depreciated- Hence the resale value is also going to be less as the car depreciates further.
So keep that in mind. Do not purchase a car that has depreciated so much if you aim to resell it in the future. You might not get what you were expecting.
As far as the maintenance is concerned, it can really take a toll on you if you don’t invest in extended warranties on time. So if you opt for an extended warranty from the money that you’ve saved- you are good to go.
But this could become a con for those who choose not to take coverage from extended warranties.
That’s about it. We’ve discussed almost every advantage and disadvantage that comes with buying pre-owned luxury cars older than 7 years. These are the things that you must consider to stay on the safer side.
If you are looking for pre-owned luxury cars you must check out Kings Auto’s website to get the best variants at competitive prices. We have a huge collection, and you can also visit our showroom if you wish to explore more.