Thu. Jul 25th, 2024

Do you think buying a pre-owned luxury car is a good investment?

Nowadays, the Indian automobile consumer mindset is shifting towards buying pre-owned luxury cars. Over the last decade, the market share of used luxury cars has been stable at 18% and is expected to grow faster after the pandemic period. A brand new car is obviously a choice for many, but growing competition and comparable pricing have made it easier for the customers to explore the option of pre-owned luxury cars.

Why can buying a pre-owned luxury car be a good investment?

  • Lower depreciation: It is a no-brainer that brand new luxury cars depreciate more in the early years. A used luxury car, however, has lower depreciation rates as time goes by. For instance, within the first 3 years, the brand new car is likely to lose 50% of its initial value as per market trends. Visit used luxury cars San Diego for more info.
  • Affordable pricing: Nowadays, when you compare the top model of premium car manufacturers with the pre-owned four-wheelers by luxury car manufacturers, you’ll find a marginal difference. That is to say, if you opt for a well-maintained pre-owned luxury car, you’ll get extra features, reliability, and greater comfort at a great price.
  • Insurance cost: As the vehicle gets older, the insurance premium rate decreases because it is calculated according to the car’s current market value. If you can manage to get hands-on a car with valid insurance, it can be an added benefit in the long run.
  • Dedicated dealerships: Organized players for sale and purchase of pre-owned luxury cars have made it easier for people to buy a used vehicle without having to worry about resale, fitness, etc. These dealerships also offer an extended warranty, making it all the easier for customers to opt for pre-owned luxury cars.

Quick tips you should follow while buying a used luxury car

  • Engine Check :-

Engine must not limp while idling

Check for engine oil, oil filter, and leakages if any

Observe any weird sound or noise from the engine compartment

Check the spark plugs and ignition coils, cables

Cross check the engine number and chassis number with the documents

  • Gearbox Check :-

Check for the sticky gear stick

Check for vibrations in the gear shift lever

Check for leakages and gearbox oil levels

Check for noises or sounds while engaging the gear

Check for the burning smell, which is a symptom of overheated fluid

  • Transmission Oil Check :-

Check the oil level after warming the engine

Check for oil quality and wear. Brownish red color indicates a fluid need to be replaced

Check for leakages from the gearbox and fluid chamber

  • Engine Back Compression Check :-

Check for leakages by noting readings in the compression test

Test must be performed by disconnecting and removing all spark plugs, fuel pump, and      fuel injection fuses

The pressure gauge must be connected to the spark plug hole, and the engine should be cranked 3-4 times to get stable readings

The above step should be repeated for all the cylinders

  • Engine Heating Check :-

Check for coolant levels in the sump as well as circulation system

Check for leakages in the circulation system

Check for ticking noise in the engine. This indicates low engine oil viscosity as more friction is generated between the parts

Check for engine losing power while idling

  • Engine Temperature Check :-

Check for temperature warnings on the dashboard

Check for radiator health and proper functioning

Check for faulty water pump which circulates the coolant liquid

  • Ball And Bearing Check For Suspension :-

Check for wear indicators on the ball joints

Check for body role while driving or nose-diving while applying brakes

Check for knocking sounds when the car moves over bumps

Check for rust or mud accumulation in and around the ball bearings

Check for steering difficulty at low speeds, which indicate wear and tear in the suspension system

  • Test Driving:-

Test drive the vehicle for at least 10-15km

Check the air conditioning, central control unit faults/warnings

Check smooth braking and throttle while driving

Check for sounds inside the cabin while driving

Check all the electronics, buttons, ORVMs, adjustments, seat adjustments

Check for a tire alignment and tread wear and tear

Check for limping or coughing in the engine while driving

  • Brake Pad Check:-

Check for wear indicators on the brake pads

Check for brake fluid, leakages in the individual discs

Check for brake lights on/off while not in use

Check for the handbrake function running normally

  • Meter Tampering Check:-

Check the service booklet for meter readings and service dates

Check for marks or finger impressions inside the odometer

Check for spare switches which look out of place

Check for internal wear and tear, floor rust for estimated years of use

Check if the odometer reading is getting stuck somewhere while driving

  • Door Opening And Touching Check:-

Check for touch panels, smart sensor proper functioning

Check for creaking noises while opening or closing the doors

Check for tightness or difficulty in opening the door with remote key

Check for proximity sensor functioning

Check for door open warning light indicator on the instrument cluster

  • Tyres Quality Check With Treads Level:-

Check for tread wear and tear, year of replacement, and odometer reading collectively to determine tire health

Check for bubbling or imbalance while driving

Check for correct tire configuration as recommended as per the car make and model

Check for the difference in rim sizes or modifications

Final conclusion on buying a pre-owned luxury car

Buying pre-owned luxury car can be a very rewarding experience if you give proper attention to inspections and checks. You can always ask a trained mechanic who is familiar with the car to run tests for you. This should not be considered an expense because a trained mechanic can reveal countless faults, which are worth negotiating for while deciding the final price of the car.

Thus added comfort and luxury can be availed without spending a lot and makes a smart investment in the long run. Stay tuned to our website for more such informative blogs in the coming week.

By admin

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