Used Luxury Cars: How to Avoid Costly Depreciation

Buying a Used Luxury Car: Is it Worth the Risk? The market for pre-owned luxury vehicles is booming, but buyers need to be cautious. A recent video highlights the importance of considering depreciation when purchasing a used luxury car. One expert, who goes by the nickname Auto Residence, advises focusing on percentage loss rather than absolute dollar amounts. 'When you buy a new car, you expect some depreciation, but with luxury vehicles, it can be significant,' he explains. He uses the example of a 2014 Range Rover, noting that a price drop of 5-10% annually is not uncommon. This highlights the need to thoroughly research the vehicle's history and factor in potential maintenance costs. By focusing on the percentage of value lost, consumers can make more informed decisions, ensuring they don't overpay or face unexpected expenses down the line. Buying a used luxury car can be a rewarding experience, but careful planning is essential.