Tips for Buying Luxury Cars in India

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Luxury Cars Not Fitting Your Budget?

How often have you looked at a luxury car and thought of owning one? And how many times have you given up on the idea because you felt it was way beyond your budget? Well, what if we tell you that buying a luxury car in India is not as impossible as it used to seem?

Luxury cars are expensive. Most of the models seen on Indian roads are sold by carmakers like Mercedes-Benz, Audi, or BMW. These brands attract 28% GST as well as a 22% compensation cess (because most have engine capacity exceeding 1,500 cc and length exceeding 4,000 mm).

The rate of a new Mercedes-Benz, for example, starts at Rs 44 lakh, ex-showroom. Audi cars start at Rs 43.85 lakh, and BMW cars are priced at Rs 43.5 lakh. Cars by Lexus, Jaguar Land Rover, Volvo, and Porsche are equally if not more expensive.

However, the rising popularity of the used car market in India is paving the way for many people to own a luxury car of their choice and live their dreams!

Premium Cars in the Used Cars Market

The used cars market is the best place to be if you are hunting for a good premium car within your budget. Not only will you save a lot of money, but might also find a bigger, better, and more premium car in your budget compared to buying a new one! 

Did you know? Used premium cars depreciate quicker than your mass-market brands! Here’s why - while most luxury cars are imported at staggering import duties, it’s the consumer that bears these massive costs, leading to a huge decline in the real price tag over time.

This is why you will be able to afford a second-hand luxury car when compared to buying a new one. If you are planning to buy a used luxury car that does not burn a hole in your pocket, here are a few tips to get it right!

Know What Your Luxury Is

You must be aware of the luxury cars in the market and what luxury car you would like to own. Deals and offers involving premium cars are usually quite specific and time-consuming.

Often, luxury car sellers avoid spending time on buyers who seem frivolous about the purchase. Also, luxury cars are laden with more features than regular cars, and you must be well-educated about your choice to examine the car properly.

The next step is to know the actual value of the pre-owned luxury car that is on offer. The deals of luxury cars involve compulsive negotiations that have many lakhs going up and down. You don’t want to end up overpaying the seller only because you are not aware of the market and the value of the car. You must evaluate the cost through online sources to know how other sellers with similar cars are pricing their vehicles. Online valuation platforms show you the actual value of the car after computing all the details it asks you to add. The condition of the car also plays a major role in the cost of the car.

Look up the brand, model, variant, features, and reviews of the car you would like to purchase. Do your research on the car and its specifications. Compare two cars, brands, and models to see which one best fits your needs.

Visit a reliable online used car marketplace and browse through the available used luxury cars. Used car marketplaces give you exact details of the car such as the model, actual price, kilometers driven, present condition, and available features, making your decision-making much easier.

Your Budget Before Theirs!

The simplest way of putting this across is – “Fix Your Budget”! Yes, be sure about how much money you are willing to pay for the car you are going to buy. The seller is free to ask his price but you must be clear on your budget. You can expand a little bit if you feel it's worth the money, but otherwise, fixing how much you can afford will help you in the long run.

Pre-owned luxury cars may seem less expensive when compared to buying a new one. However, you must know that maintaining a luxury car is an expensive affair and you must be prepared for the same. Overhead expenses like regular servicing, costly spare parts, car tech updates, and modifications can end up costing you a pretty penny if you’re not careful and aware.

Pre-purchase Inspection

It is no news that luxury cars look gorgeous both inside and out. It is therefore very important for you to get your magnifying glasses out when inspecting a used luxury car on offer.

Car technology can be tricky and not everyone’s cup of tea to judge and inspect correctly. Take a mechanic along with you or a friend who knows well about the nuances of a luxury car. High-tech features and elements like sensors, driving modes, controllers, digital displays, and more can be challenging to maintain if you do not detect the fault in time.

Along with the car’s physical condition, make sure that you verify the car’s vehicle history report including service records, any maintenance history, insurance documents, previous ownership, and outstanding loans if any.

Three points to consider while inspecting

• Check if your phone gets connected to the car via Bluetooth. Once connected, check all the technical features and ensure seamless connectivity and performance.
• Assess the battery and other electronic components in the car. If anything malfunctions, bring it to the dealer/seller’s attention at once.
• Inspect for modifications, the authenticity of tyres, engine sound, exhaust sound, and the exhaust pipe of the car.

Test Driving Done Right

Test driving the car gives you better clarity on the running and performance of the car. You can check for how smooth the suspension is and how the engine sounds while driving.

You get a better understanding of the look and feel of the car while driving for you to make the decision better. Leave no stone unturned on your test drive. You must take your friends or family members who understand cars to have an extra set of eyes on the car to catch a flaw you might miss.

Is the Used Car Certified?

You know that large amounts of money are involved in the buying and selling of luxury cars – used or new. A certified luxury car is well-inspected before your inspection and comes with a warranty. You can have your car certified from an approved dealer or you could directly approach the premium brands for the purchase of a certified pre-owned luxury car.

Most of the premium brands in India such as Audi, Mercedes-Benz, BMW, Jaguar, etc. have branched out their pre-owned car segments which offer you certified preowned luxury cars. They have separate online platforms for second-hand luxury cars where you could explore your options further.

Drive Home Your Luxury Car in Style!

Buying a used luxury car offers several advantages:

• Significant savings – as pre-owned luxury cars are generally priced lower than brand-new ones.
• Get a high-end premium car with advanced features at a more budget-friendly price.
• The rate of value loss is minimum since the initial depreciation has already occurred.
• Insurance premiums and registration prices are usually lower for pre-owned luxury cars.
• Buying pre-owned cars allows you to choose from a wider range of models and features within your budget.

What are you waiting for? Get your hands on affordable yet stylishly premium cars on used car online portals like Gaadi Bazaar!