Buying a new car is a risky investment that is filled with excitement and anxiety. Among these emotions we are always poised with the question ‘is a used luxury car better than a new budget car?’. With the entry price of budget cars increasing every year, is it finally the right time to pick a used luxury car over a new budget SUV? Well both options cater to different needs and priorities, so let’s understand the pros & cons of each model before making an informed choice.
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Used car Vs New Car
Choosing a new car over a used car is subjected to one’s personal preference and financial condition. For the sake of this experiment let’s consider a budget of Rs 25 lakhs. At this budget, customers can choose between a new Hyundai Creta facelift (Rs 13.10 lakh and Rs 24.46 lakh) or a good condition BMW X1/ 3-series from 2017.
In this scenario a used car might look like a better deal, but here are some benefits of owning a new car:
- Peace of Mind: A brand new car comes with a minimum of 2-years manufacturer warranty, offering peace of mind and reduced risk of mechanical failure or repair.
- Modern Features: The latest Creta boasts cutting-edge technology and safety features like a panoramic sunroof, touchscreen infotainment system and Level 2 ADAS which will be missed on a used car from 2017.
- Lower Running Costs: New cars are known for their fuel efficiency and lower to run and maintain compared to a used BMW.
Read More: 5 Things to consider while buying a used car
Benefits of a buying a used luxury car
While a new car from 2024 is better in terms of technology, a used luxury car is better value as it offers:
- Brand Prestige: Brands like BMW, Mercedes and Audi come with an attracted brand value and prestige which is backed by superior driving experience and comfort.
- Performance: BMW cars are renowned for their powerful engines and best-in-class handling characteristic.
- On-par Safety: while a used car might miss out on modern tech features like ADAS. Most cars produced in the last 7 years offers standard safety features including & up to 6 airbags, ABS, reverse parking sensor and more.
- Cheaper to own: Insurance premium reduces with the age of the car. So, a used luxury car will always cost lesser to own compared to a new car.
- Hold Resale Value: Unlike new car that depreciate quickly, used cars tend to hold their value longer making them better investments.
Also, the savings from buying used car is always higher as you do not have to pay additional road tax or other mandatory charges during ownership transfer. These extra savings could be used to accessorise and customise the car as per your taste or saved for future planned maintenance.
Read Also: Rs 3 Crore Toyota SUV to Rival Rolls Royce
Tips for Buying
While, used cars are good investment options they could also be a nightmare if you are not careful. Customers will carefully need to evaluate the condition of the car physically and mechanically. Maintenance on these used luxury models could at times exceed the actual value of the car based on the issue at hand.
So, always ask for the service record and check for any unplanned maintenance during the cars life cycle. Finally, take a test drive and check the car thoroughly before making any decisions.
Ultimately, the choice between a new Creta and a used BMW is a personal one. But the key factors to consider are:
- Driving Needs: What do you need, the driving thrill of a used BMW or a peace of mind and feature packed interior of the new Creta?
- Budget: Remember to consider running and repair cost in your budget before finalising any car.
- Peace of Mind: The warranty and reliability of a new car might be worth more to you than the prestige of a used BMW.