We all dream of parking a brand new luxury car on the driveway. We’d love to show off the new Mercedes badge or show up to the golf course in a new Jaguar. Unfortunately, these cars are usually well out reach for the average buyer. Their price tags race into the hundreds of thousands, and even the most generous finance plan won’t cover it. When this is the case, many buyers start to glance towards the used market. A brand new model may be out of your price range, but what about the second-hand version?
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For many buyers, this is the only way to get your hands on your dream car. We wholeheartedly recommend browsing the used market. We’ve picked up some fantastic bargains ourselves, including a stunning Mercedes at motorlinedirect.co.uk. However, it’s not all plain sailing on the used market. Buyers are easily overcome by the luxury badge, and forget to check the condition. It might have a low price tag, but luxury cars are seriously expensive to maintain and repair. By all means, buy a used luxury car, but avoid the following pitfalls at all costs.
Failing to research
Gathering knowledge is the single most important thing you can do when buying a car. We can’t stress this enough. It’s even more important when it comes to luxury cars. Why? Because, every year or era has a different value when it comes to luxury and classic motors. As a buyer, you need to know why a 1961 Jaguar E-Type is worth more than a 1974 Jaguar E-Type. When buying luxury cars, knowledge is power. Make sure you know how to spot a bargain, and understand what you’re paying for.
Buying for the badge
We often see luxury car owners blinded by the status symbol and badge associated with a car. Yes, the car of your dreams may have the coveted Mercedes badge. But, that doesn’t make it exempt from breakdown, repair, or faults. A super cheap Merc is not necessarily a bargain; it could simply mean it’s a death-trap! Don’t trust the badge. Use your instincts, and check the car thoroughly. We’ll show you a little more about that in the next section. Just remember, you’re looking for more than just a badge. There’s no point buying a Jaguar if it spends half the year in the mechanic’s shop.
Failing to test drive
As a member of multiple classic car clubs and organisations, we hear a lot of horror stories. The most common story on the grapevine involves blind-buying on the internet. Buyers find a bargain classic or luxury car online, and they make an impulse purchase. We’ve seen this happen at car auctions too. They’ve been searching for a specific car for years, and they finally find it at a bargain price. Of course, it arrives in a mess, costing the buyer a fortune to restore to road-legal status. Don’t make this mistake. Always test drive the prospective car before buying.
Follow this advice, and you’ll make a sensible investment. Follow your heart, but listen to your head too!