Is Buying a Luxury Car worth it?

India is no stranger to luxury cars. During the British Era, when there were no Indian car manufacturing companies, foreign companies such as Morris and Rolls Royce were the suppliers of cars in the Indian market. With the Swadeshi movement and thereafter independence of India, the importance of foreign made cars reduced. However, when the Indian economy was thrown open and made a part of globalization, foreign cars such as Honda, Ford, Toyota, Hyundai and Chevrolet made a foray into the Indian car market. Foreign car makers too started treating India as a growing and formidable market and they too started supplying cars to the India’s car market. Today, a large number of luxury foreign car brands are available in the country such as Mercedes Benz, BMW, Audi, Range Rover, Jaguar and Bentley. These cars not only perform well but are also a class apart from others in terms of comfort and looks.

Undoubtedly, the Indian market is one of the largest for Indian car makers. Mercedes Benz treats the Indian car market as the second highest growing market even though it sells only 10000 or so units in a year. Such is the potential of used luxury cars that the top luxury car brands of the country have already started their certified used car lines. The trend was started by Mercedes Benz with the Proven Exclusivity line in June of 2010 and it was followed by BMW with the Premium Selection and Audi as well. These lines offer warranty for the cars sold for 2 years and 100,000kms whichever is lesser. Some of the certified used car lines offer different warranty conditions as well. BMW used cars buyers can also avail of the BMW India Road Assistance which is available 24X7 and 365 days of the year. The cars that are sold by these companies are not more than 5 years old and they are also refurbished and checked prior to sales. The used car dealerships were started with the intention of enticing people to trade-in their old cars for premium quality ones.

If you have a budget of Rs 20 lakhs or so for buying a car and are confused between brand new C segment cars or luxury cars, then it would be best if you opt for used luxury cars. For this budget, you can buy good quality Mercedes Benz and BMW used cars which cost around Rs 25 lakhs to Rs 30 lakhs. The value of cars depreciate once they are out of the showroom and hence upon losing their value, these cars become lucrative deals for those with a budget of Rs 20 lakhs for buying a car. Not only does owning a Mercedes Benz a status symbol but also it is a better performing car. Compared to a Toyota Camry or a Skoda Superb, a Mercedes Benz would provide your better performance and last longer. Moreover, if you opt for purchasing the car from a certified luxury car dealer, then you would not have to worry about the quality of the car also because it has been ascertained by the dealer. Expensive luxury cars are not usually chauffeur driven and owners take a lot of care when they drive around these cars.

The luxury used car market is increasing at a lightning pace and it is evident that the market would become an important one in the coming future. Luxury cars currently form only 5 percent of the used car market, but their growth has been pegged at 35 percent which shows that it is slated to become important in the coming future.

Financing options for these cars are also quite a few. Financing companies are quite eager to offer loans to customers of used luxury cars because they are usually ones with good credit history and loan repayment records. Most of the buyers of used luxury cars are those who want to upgrade from C segment cars such as Skoda Octavia or the Honda Civic. The interest rate at which financiers offer loans to used luxury car buyers is around 11 percent which is comparable to the rate that they would be offered to buy a car of similar price. Usually, financiers offer loans for affordable used cars at 15 percent or so. Because of the faith they have in used car buyers, they offer them at lower prices.

BMW used cars can not only be bought from the certified luxury used car showroom but also from online car selling websites. These sites have listed on them not only the popular used cars but also brands such as Porsche, Mini Cooper, Land Rover etc. The price bracket in which these cars are available is around Rs 20 lakhs to Rs 35 lakhs. The contact information of the seller is also made available on the website so can get in touch with the seller to find out more.

Prior to buying used luxury cars, buyers must ascertain the condition of the car by driving it around. Test driving the car on both highway and city roads would allow you to assess how the car performs. Listen for sounds when you fire up the engine, suddenly brake the car or go over speed breakers. If you here vibration from the engine or noise, then you should avoid these cars as they may have some problem with their engine.

You can also use the online price calculators for cars in order to find out the true price of a luxury car. All you have to do is enter the specs and the website would show you the best price for the car.

Buying used luxury cars can be quite beneficial because they shall perform well and last longer than other less premium brands. They are a status symbol and most of these cars have been maintained well, which is why you need not worry about a noisy engine or a shot suspension. With careful selection, you can get the best possible BMW used cars for yourself.