Should I Buy a New Car or a Used Luxury Car?

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Salesman showing keys to new car
Considerations
Let's start off by discussing the reasons why you might consider buying a used luxury car instead of a new, more economical car. For some, buying a car is driven by emotions as opposed to logic. Those who see their auto as an extension of their personality might prefer a used luxury Mercedes, Audi, BMW or Jaguar because they are just so much more refined than a new Toyota. Once you have spent some time behind the wheel of a high-end sedan with its perfect mirror-finish paint, sleek design curves whisking through corners effortlessly, surrounded by rich leather seats and a walnut-trimmed steering wheel and dash, it's hard to get excited over a Hyundai Kona. Luxury equals a quiet and refined place that carries you to your destination effortlessly. 
As the old saying goes, "If you don't turn around and look at your car when you leave it parked, you're driving the wrong car." 

There is something to be said for taking pride in what you drive. The cool factor has swayed many such arguments over price and practicality. Then there is the prestige factor. How cool will you be when seen driving your used (but new-looking) Beemer rather than a new Chevy Sonic. 

With all this in mind, we've prepared a list of pros and cons when it comes to buying a new car and another such list for buying a good pre-owned luxury car. You be the judge. 
Pros to Buying a New Car 
A new car is perfect. There are no dents and dings, the seats are new and there are no weird smells from the previous owner. There are no cigarette burns on the seats. It is all yours with very few miles on the odometer, if any. New cars come with at least a three-year warranty that covers pretty much everything. Whether you buy or lease, your Lithia Auto Dealer can get you into the right new car. 

With a new car you can select the make and model, color, and trim level you want, and get incentives such as low interest rates and factory rebates. You will also get the very latest technology, from amazing infotainment systems, to the latest in Driver Assist features. There is less maintenance to worry about on a new car. All you'll have to do is get the oil changed and the tires rotated. Some new cars even come with free maintenance for the first few years.



Cons to Buying a New Car
A new car is perfect. There are no dents and dings, the seats are new and there are no weird smells from the previous owner. There are no cigarette burns on the seats. It is all yours with very few miles on the odometer, if any. New cars come with at least a three-year warranty that covers pretty much everything. Whether you buy or lease, your Lithia Auto Dealer can get you into the right new car. 

With a new car you can select the make and model, color, and trim level you want, and get incentives such as low interest rates and factory rebates. You will also get the very latest technology, from amazing infotainment systems, to the latest in Driver Assist features. There is less maintenance to worry about on a new car. All you'll have to do is get the oil changed and the tires rotated. Some new cars even come with free maintenance for the first few years. 
Pros to Buying a Used Luxury Car 
With a good low mileage used luxury car, you can get far more car for your money. Such cars are known for rich interiors and the latest technology. We're talking walnut burl dashboards and real leather seats as well as bigger, more powerful engines and every bell and whistle known to man. As far as depreciation, the first owner took the major hit and your luxury sedan will degrade less than a brand new car. 

Another plus is that you can purchase a car under the manufacturer's certified pre-owned program from an authorized dealer. That means the car has been thoroughly gone through and you can even get extended warranties for your upscale beauty. This is the closest you can come to getting a used luxury car that looks and drives like a new one. 

Many safety features and creature comforts in new cars were first introduced in luxury models. So, your used luxury car will probably include such wonderful toys as heated seats, power windows, GPS-navigation, rain-sensing wipers, premier audio systems, back-up cameras, blind-spot monitors, smart cruise control, keyless entry and so on. In fact, a four-year-old luxury sedan may have more special tech features than a brand-new economy car of the same price. 



Cons to Buying a Used Luxury Car 
The biggest reason for not buying a used luxury car is that maintenance and upkeep is going to cost you more than a less expensive new car. So, you have to factor that into the equation. Naturally, you will want to keep your luxury vehicle in good shape and you have to have the money to do that. Your used luxury car either has no warranty or a limited one and parts and labor on a luxury model is generally more expensive. Edmunds.com estimates that the five-year repair costs on a used BMW 328i is approximately $7,989 compared to $773 on a new Honda Accord. 

Your used Mercedes or Audi may also have outdated technology compared to a new car. Such tech as navigation or infotainment systems don't age particularly well and having them repaired is expensive. The map data will be out of date and the infotainment system may not function with your new smartphone. Plus, luxury cars with bigger and more powerful engines are not as economical and fuel-efficient compared to a new Toyota Prius. And you'll have to use premium fuel as opposed to regular. 

Decisions.. Decisions..

On the other hand, if you are only interested in a vehicle that will get you from point "A" to point "B" economically and safely and have little or no interest in how you get there, there is much to be said for buying or leasing a new car. For instance, new cars come with at least a three-year warranty as well as incentives and rebates, and new cars are packed with the very latest technology and features. There is also nothing like buying a new car and knowing you are the first to own that shiny, perfect car that is covered under many layers of warranty. 

With a new car, you might even have a service plan that covers your oil changes for the first few years. Plus, you can go to your local Lithia Auto Dealer to find a selection of new cars at the right price, with the features and trim level you want, and drive out with a new car today. Of course, you can also visit a Lithia Auto Dealer and peruse the used luxury cars to see if there is a more prestigious vehicle for you at or below the price you would pay for a new car. 
Conclusion 
A decision on whether you should buy a new car, or a more upscale used luxury car comes down to dollars and cents on the one side, including value for the dollar, and which vehicle is right for you and your lifestyle on the other side. As we said at the beginning of this article, your decision may have more to do with how a car makes you feel rather than what you spend or what is practical. Either way, new or upscale used, Lithia Auto is ready to help. You'll find our Dealer Locater here.