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BUYING A USED LUXURY CAR
Getting ready to buy a new Honda Accord? Are you
really happy about your new car purchase? Perhaps you really want to
buy a luxury car, like an Infinite or a Mercedes, but you
don't think you can afford one. There are options!
Did you know that buying a certified pre-owned luxury car
that is coming off a lease is a good buy, monetarily and
mentally? In fact, because of the appeal of certified
pre-owned cars, more and more people are buying used cars
for the first time.
A certified pre-owned vehicle is a sensible purchase
Typical
interest rates for used luxury cars are not much
higher than new ones. For example, someone with good
interest can expect to receive an interest rate of 7.5%
for a 36-month
used car loan. While
new car loan interest
rates for a 36-month loan are 7.25%. That is a difference
of .25%, which is not much.
Take into consideration that
new cars depreciate very
quickly. So, the original owner of the vehicle will take
the hit for depreciation when you buy a new car coming
off of a lease. Luxury cars coming off leases also tend
to have low mileage and are well-maintained.
Buying a luxury car can be good for your mid as well.
Having a fancy car is liking wearing nice clothes. It
makes you feel good.
APPLY NOW!
There is no shortage of luxury used cars
Did you know that more than 65% of new luxury cars
are leased? Also, many luxury cars are leased for
employees of businesses. Usually, businesses do not buy
back automobiles when they come off of leases. In general
the buy back percentage of luxury cars compared to
mid-range cars is less. For example, in 2005 45% of
Hondas were kept after lease conclusion, compared to only
30% of Mercedes.
Certified pre-owned cars come with great warranties
Most cars that are purchased after a two year lease
will still receive coverage from a manufacturer's
warranty. In fact many cars will offer something like a 4
year warranty or 50,000 - 60,000-mile warranties.
However, even though warranties are provided, you still
want to follow the basic tips for
ensuring you buy a car that is in good, all around
condition.
When a car is pre-certified it means that the vehicle was
put through a wide-range group of inspections and
reconditioning designed to upgrade the car to new car
standards.
Buying a certified pre-owned vehicle is an option that
needs to be considered when looking to finance a used
car. The benefits of buying a certified pre-owned vehicle
are similar to the
advantages of buying a new car.
Learn more about how
buying a used car can save you money.
Let us help you secure your
used car loan!
Star Loan Services will provide you with the most
competitive rates for certified pre-owned vehicles!
APPLY FOR A USED CAR LOAN!
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