Why should you look for a car with less miles per year than a newer model year with higher miles?
This is just one of the many tips to getting the best bang for your buck when shopping for a luxury used car in market 2.014
Dismissing the obvious body style or discontinued model, which can kill a used car value by 50%, most used luxury vehicle buyers are hoping to save the depreciation by being owner number 2. However, if the miles are average or higher than average for the model year, even a LOWER price on the car is probably not the best deal for you.
Look for your luxury pre-owned car on a luxury brand dealership lots, where wealthy owners trade often, maintain their cars religiously, and often lease the car, keeping the miles low. I often use the math per mile measurement to determine the cost vs. value of the car I am considering as a buy. Divide the advertised cost of the vehicle by the number of miles it has, then compare this to a different car, and take into consideration any remaining warranty. The lower cost per mile the better, given equal features, options and condition.
Why you should buy your luxury car from a dry, desert state than your favorite snow-bound locale?
It helps to look in dry weather, desert states where the condition of the vehicle is usually better. Most luxury car owners keep their vehicle in garages or sheltered parking to limit color fade, battery fatigue and to keep the car cool for driving comfort. This time of year, winter states pare their used car inventory as snow and salt on the roads remind buyers what a beating the weather does to cars in such climates. Thanks to the internet, Canadians, and snow-bound car buyers can find the perfect 4wd in Las Vegas, Phoenix or Southern Utah, at prices which reflect the value of clean, often certified, luxury pre-owned models. The selection is typically double that of the east coast dealers, and most dealerships handle shipping as part of their internet business today.
Las Vegas dealerships provide concierge service from hotel and airport pick-up to US-Canadian document services when called upon.
However, be careful to look at the vehicle history of the car by requesting the original dealer information, reviewing the CARFAX and or AUTOCHECK reports to determine where the car lived in it’s previous ownership. National car chains like CARMAX, often ship cars cross-country to meet market demand and inventory adjustment, so a car in Las Vegas, may actually have been originally purchased and driven in Colorado or other winter states. Locally owned, branded dealerships typically take the bulk of their used cars in on trade from repeat clients, lessees and referrals.
Certified vs. Non-Certified Luxury Cars… WHICH IS BETTER?
Dealers are encouraged to purchase off-lease vehicles in their brand from the manufacturer, and must CERTIFY a percentage of these vehicles to qualify for special incentives
including low interest rates.
The low interest rate incentives often pay for the extra cost of having a factory-certified car, where the brand is backing the condition of the vehicle with original equipment parts and factory trained technicians.
The certified policies I question are those covering only twelve additional months or 24,000 miles, but raise the selling price over $1000.00
Research the brand certification policy carefully before deciding which luxury vehicle is the best deal for you. The In-service date is a critical determining factor for how much coverage you will have on the pre-owned vehicle. A car offered from a competitive brand can NOT be certified by the factory, however, if the car is still under it’s original coverage, and the “certified” model from the brand dealer has limited years or miles of coverage at a considerable expense, you may determine the savings will pay for a MORE comprehensive extended service contract which can be serviced at the brand dealership.
There are some brands that should only be purchased as certified from the branded dealership because the aftermarket warranty or extended service contract is triple the cost otherwise: Porsche and Jaguar are two examples where this is the case.*
Check out more tips on Used Car buying here…
PART 2. continues tomorrow on the subject of buying luxury cars 2.014: WHERE THE DEALS ARE: BRANDS and MODELS.
(disclosure: *MyCarlady works with the Porsche and Jaguar dealer of Las Vegas as a digital media consultant.)
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Sarah Lee is an automotive expert recognized nationwide for her no nonsense approach to the car buying.
She has over 25+ years of experience writing about cars and car issues, the automotive industry and more.
She is a staunch consumer advocate on car related subjects.
All comments and questions noted here are responded to.
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Dismissing the obvious body style or discontinued model, which can kill a used car value by 50%, most used luxury vehicle buyers are hoping to save the depreciation by being owner number 2. However, if the miles are average or higher than average for the model year, even a LOWER price on the car is probably not the best deal for you.
Look for your luxury pre-owned car on a luxury brand dealership lots, where wealthy owners trade often, maintain their cars religiously, and often lease the car, keeping the miles low. I often use the math per mile measurement to determine the cost vs. value of the car I am considering as a buy. Divide the advertised cost of the vehicle by the number of miles it has, then compare this to a different car, and take into consideration any remaining warranty. The lower cost per mile the better, given equal features, options and condition.
