Is Owning A Luxury Car With Smart Technology A Good Idea?

Owning a luxury car is a dream that everyone has had at some point, even if it is for a fleeting moment. You can’t deny that a well-maintained luxury car inspires you to drive it and own it. Its looks, the technology it holds and the power it brings are certainly appealing.

Nevertheless, luxury cars are generally much more expensive than regular brand new cars. This means we usually just dismiss the idea and walk away from the possibility of actually buying one of these cars. Have you actually made the cost comparison between a new car and a used luxury car? If we’re talking about prices, they really don’t differ much. So, I thought it would be great to give you some facts on why you should consider buying a used luxury car with smart technology.

I want to put emphasis on 2 very important points before we go into detail. First, a used luxury car with smart technology will definitely be a lot more impressive (more power, more potential, etc.), than a regular car, even if it is new. It is simply a different experience when you compare driving a Mercedes-Benz, to driving a Hyundai or a small Toyota. Second, you will find technology that has barely been incorporated into regular cars. If this technology were included in everyday cars, it would make the cost of your vehicle skyrocket. (smart cruise control, entertainment systems, etc.). These two very important points will be the difference between you paying less money overall for a used luxury car and paying more for a new economy car.

Let’s explore the upside to buying a used luxury car.

1. Existence of CPO

There are great Certified Pre-Owned programs available for used luxury car owners, programs that you won’t find for other types of used cars. A used car is always a gamble, especially when it comes to warranty. Short or long term repair costs, as well as maintenance costs, are always possible unforeseen expenses after you buy a used car. On the other hand, if you buy a used luxury car that is in a CPO program, you won’t have to worry about that problem. Cars that are in a CPO program are thoroughly examined in order to determine if they are eligible for the warranty in the first place.

2. Less depreciation

A brand new car usually loses 19% of its original value within the first year alone, another 31% to 51% are lost between the second and fourth years after the vehicle is purchased. Buying a used car is always a smart idea because the first owner has taken the biggest depreciation hit. This means you will ultimately get much better prices (you can check Kelley Blue Book for references).

A luxury car with smart technology won’t depreciate as quickly as a regular car. Depreciation mostly depends on the model of the car. A luxury car with smart technology features will lose less of its value over time compared to other used cars.

3. Safer cars

Driving has always been considered an activity that has its fair share of risks. Luckily, making cars safer has become easier with smart car technology. Features such as Adaptive Cruise Control, Biometric Security, and Night Vision technology are all qualities you will find in luxury smart cars. These features were added to these cars in order to make your driving experience much more pleasant.

Here is a short description of each feature just in case you are not sure what their functions are:

Adaptive cruise control– Constantly adjusts the car’s speed in order to keep a safe distance from the cars around you

Biometric Security– Has features such as fingerprint recognition and eye-scans so you can control the number of people who have access to your car.

Night Vision Systems– Advanced night vision technology which makes driving in the dark a bit easier.

4. Loaner car benefits

One of the coolest benefits you will get after you buy a used luxury car from an authorized dealership are loaner cars. Each time your car needs maintenance work or repairs you will get a free loaner car while it’s being fixed. Almost all luxury dealerships have this service and it’s pretty fast and efficient as well.

Not every car purchase has a fairytale ending. So It’s very important that you know everything about the car you are getting, along with the downsides the purchase may have. Luxury cars have higher maintenance and repair costs because replacement parts for these vehicles tend to be more expensive. Fuel consumption is also likely to be higher. A bigger, more powerful luxury car engine will consume a lot more gas than its smaller everyday brand counterparts. You should always remember to consider the costs associated with owning the vehicle apart from the purchase itself.

There are a lot of pros and cons when it comes to buying a used luxury car with smart technology. This is why it is crucial that you do your research before you even start looking for a car. Be patient, look at all of your options and pick the car that best suits your needs. What other upsides do you see when it comes to buying a used luxury car? Let us know in the comment section below.