Should I get a new luxury vehicle or used luxury vehicle?

By Product Expert | Posted in New Vehicles, Used Vehicles on Friday, February 22nd, 2019 at 9:00 pm
2019 Porsche Panamera exterior back fascia and passenger side

Sometimes, it can be easy to get swept away in the amazing specs and features on new luxury vehicles. But, the price tag can sometimes bring shoppers up short. Even if you don’t mind the price tag attached to a luxury vehicle, why spend the money if you don’t have to? But, there are also advantages to getting a new vehicle instead of a used one. Confusing, right? Let’s clear things up a bit and check out if a new or used vehicle is in your future. We’ll do this by listing a few pros and cons for buying a new and a used vehicle. Let’s start!

Pros of buying new

  • Latest technology/features
  • No wear and tear
  • New-car warranties

Cons of buying new

  • Price
  • Value drops as soon as it’s off the lot
  • Higher insurance

Pros of buying used

  • Lower price tag
  • Not as much of a value drop
  • Won’t need a huge downpayment

Cons of buying used

  • Wear and tear of use
  • Potentially doesn’t have all the latest tech/features
  • Potential high mileage

Read More: Where to find affordable luxury vehicles near Chicago, IL?

2019 Porsche Panamera exterior passenger side profileAs you can see, we’ve taken three pros and three cons for buying used and new vehicles. When you buy new, you’ll obviously have a new vehicle, which means you won’t need to worry about the wear and tear, because there is none. However, you’ll also have to deal with the value of the vehicle dropping as soon as you drive it off the lot.

However, if you are looking for something that, while luxurious, isn’t quite as expensive as a brand-new vehicle, then your best bet is to buy used. Not only can you expect lower prices, but there won’t be as much of a value drop when you lease or buy, as opposed to the value drop you’ll see when buying new. However, you will need to deal with some of the problems that crop up with older models, such as more frequent maintenance and fact that it may not have all of the newest technology features that a new vehicle would have.

Benefits of buying pre-owned vehicles at Loeber Porsche

Here at Loeber Porsche, we have a wide variety of Certified Pre-Owned vehicles that you can peruse. These vehicles have been inspected to make sure they are good quality and that there aren’t any major problems. More questions? Contact us! We would love to help.

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