Can someone explain the benefit of buying used luxury vehicle?

Off-Ramp
21

I certainly didn’t want to buy a used luxury car, but here’s my Panamera case:

  • Even in the used car madness of 2022, Panamera’s still saw high depreciation, unlike many other brands and cars.
  • Porsche CPO warranty is 2 years and effectively factory warranty with the exception of stuff like trim. So my car had 3 years of warranty total.
  • Interest rates were low in April 2022 still and Porsche has never been a brand to offer low interest anyway. So no real difference between new and used on that front.
  • This gen of Panamera came out in 2017 and has only seen minor updates since, so it didn’t feel very old compared to a new one.

The biggest negative I’ll encounter in owning this car for 3 years compared to a new one is the extortionate year 4 maintenance cost and a set of tires. But that is well within the depreciation difference compared to a new one.

With all that said, there’s a few factors in there from April 2022 that aren’t true today. So this same scenario doesn’t work today.

1 Like
22

Ask @NATO :joy:

2 Likes
23

benefit, you look really sexy (I generally do this in every car I drive)

added benefit, you get the thrill of not knowing if it will have coolant or oil in it when you start it up on your commute to work

5 Likes
24

I like this confidence :heart_eyes:

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25

slay is a choice

26

Shaved the mullet? :flushed:

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27

better aerodynamics

28

Also, many people compare their savings to the original MSRP. I always used to think this way, that I could buy a slightly used luxury vehicle for $35-40k when it was $55k brand new. What I didn’t realize is that in many cases, that vehicle rarely sold for $55k, sometimes sold for $45k after discounts. Factor in better rates and the relationship with the brand/dealership and used isn’t always worth it.

3 Likes