An Audi A8 for less than $19,000? Too good to be true? Have you always wanted a luxury car but thought you could never afford it? Well, buying a used car with high mileage might be the answer. Surprisingly, you can find great deals that don’t cost more than other options. Let’s see why.
Serious Engineering Can Be Yours
Upper end automakers are not looking for buyers on a budget. For this reason, the engineering, parts, paint and technology are all very high quality. Luxury car buyers aren’t dumb, and they pay top dollar for things that are built well.
However, luxury car owners often want to stay in the latest model. The turnover for upper end models can be fast. So if you find one with a lot of miles – it might actually be a great deal. On the other hand, a less expensive car with lower mileage might cost you more in repairs in the long run.
Repairs Are Inevitable
No matter what the make, a used car has more maintenance issues than a new one. One way to address this is to pay out-of-pocket for each repair. A better option might be to buy an extended service agreement which resembles an original factory warranty. These plans cover most repairs and will protect you in the event that more repairs than normal are required. Extended warranties are a great hedge against high mileage maintenance risk.
New Luxury Costs Are Lower Than You Think
Some new luxury car sticker prices start at $30,000 or less. So a used one with high mileage might be surprisingly affordable.
In the example above, the Audi A8 was a 2007 with about 108,000 miles on it. That’s 15,000 per year which is about average. The used A8 price of $19,000 is quite a bit lower than a new model which costs over $75,000. Average driving and regular maintenance on a vehicle with superior parts can be a great used car option.
Ask For Maintenance Records
The luxury car owner often keeps meticulous records. This is because strict warranty agreements require that the vehicle be serviced at an official dealer. Everything is on-record so you can check how well the car was cared for.
Check For Exhaust Smoke, Look Closely At The Interior
When you go to see the car if you see any smoke coming from the exhaust, consider looking elsewhere. Blue smoke can mean that the engine is burning oil. Fuel system malfunction often produces black smoke. Finally, white smoke comes from anti-freeze burn due to a head gasket problem.
Look for other details. If a car has high mileage, but the paint and interior look great, this could mean the owner took good care of the car.
If you are looking to buy used and want luxury, consider looking at models with high mileage. You might find a great deal that others pass by. If you add in the protection of an extended warranty, you could end up with a very solid used car investment.
Published in Auto Warranty Articles by CARCHEX on November 12, 2014