pre-owned luxury car segment is gaining immense popularity in recent years. The
increase in disposable income has been a major factor in exercising the liberty
to explore the niche segment previously dominated by the high net worth
individual. Moreover, the emergence of the millennials as the potential
consumers is giving the desired impetus to the segment. An incessant desire
lingers within them to own a luxurious car once in their lifetime.
showing value for money, they prefer going for a pre-owned luxurious car to
fulfil their desire while maintaining their financial stability. Despite a
price hike in new cars to comply with the BS-VI norms and a long waiting time
due to the semiconductor shortage are factors amplifying the demand for
pre-owned luxury car, there still exists a section that is skeptical about the
authenticity of a pre-owned car. People are of the misconception that
purchasing a pre-owned vehicle comes with a lot of hidden problems. But during
the pandemic, the segment saw the emergence of many organised players who
strived to give end-to-end advanced solutions and products in the pre-owned car
players are offering a wide gamut of advantages by bringing about the
integration of online and offline assets. Luxury Ride is one such final
shopping destination for pre-owned luxury. Let’s elucidate on the benefits of
purchasing a pre-owned luxury car.
the notion that luxury cars are extravagantly expensive, pre-owned luxury cars
come within the same price range of a new economical car. It comes with the
backup of authentic services where the car is well-maintained and just a few
repairs render the cars almost brand new. Also, the enhanced features, high
comfort level with precise attention to the safety at the price of an
economical new car is any day a better bargain.
with high-end features
beyond mesmerising designs and impeccable styles,
the several features backed up by advanced technology is the major USP of the
luxury car. The high-end engines are responsible for superlative performance
while maintaining the comfort of the car. Luxury vehicles coming with the
advantage of blind-spot monitors, backup cameras, airbags, smart cruise
control, push-button start, keyless entry, seat belts and other electronic
an unrivalled sense and an exquisite experience. It delivers sumptuous
performance and a premium driving experience that cannot be fulfilled by the
depreciation rate of the car rapidly starts plunging the moment it is driven
out of the showroom. The depreciation rate was high in the early years of
luxury cars. In the first year itself the value declines by 25-30% and
consequently in the second year there is an added depreciation of 10-15%. This
provides an opportunity for the pre-owned luxury car buyers to avoid the heavy
depreciation rate while getting a good rebate as the price of the new car
declines significantly even when the car is driven only for a few miles.
Low rate of
a car insurance is a prerequisite irrespective of new or pre-owned car. Here,
insurance for pre-owned cars comes at an added advantage of relaxed premium in
comparison to the higher premium levied on the insurance of new cars. Along
with this, the registration fee for a pre-owned car is also much cheaper in
comparison to the new car which invariably depends on the transaction amount of
leverage of extended warranty comes with the pre-owned luxury car depending
upon the year the purchase of the new car. This is an extended benefit that
cannot be availed on purchase of new cars.
Backup of inbuilt
pre-owned luxury car is backed up with inbuilt accessories
like stereo, TV, GPS systems, etc. that are not provided in the first-hand
cars. This is a lucrative offer as the buyer doesn’t need to spend an extra
penny to set-up the car.
The advantages listed above are indicative of the fact
that opting for a pre-owned luxury car is a good bargain instead of going for a
new economical car. Moreover, when you take your car out for a ride, nobody
will be able to recognise whether it is a brand new or pre-owned car. For
hassle-free experience, Luxury Ride is the best option that strives to deliver
the best seamless services and helps in making the right purchase in the
limited time period.
Garg is the MD and Co- Founder of Luxury Ride, a final shopping destination for
pre-owned luxury cars. The views expressed in the above article are solely the
author's and do not reflect the opinions and beliefs of Motown India or its
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