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Hating The New Car Buying Experience?

Mar 11, 2008
A friend of mine was in the market to buy a new car. He wanted to spend about $25,000, and just about the only thing he could get to work at his price, including the features he wanted, was a Honda Accord. He just did not want to pull the trigger. Nothing against the Accord he said it is a great car. But they are so typical.

I then mentioned to my friend about luxury/exotic car selling companies located on the Internet. We went to some sites together and he immediately said wow. Here, if you are ready to plunk $25,000 down, you can really get some value on a late 1980s Porsche with 50,000 miles, all decked out, for just $23,000 or so.

Many online customers buy a Porsche and then resell it years later for another one at about the same price. You see, Porsche's hold their value better than any other luxury car.

It dawned on my friend, drive a luxury car and get most of your money back when you go to sell it a few years later! Chances are you are out only a small amount when you sell the car. Since not everyone is a Porsche lover, perhaps a Ferrari, Lamborghini or a Bentley or an Aston Martin is a better option if you are not sure what you want.

There are several good web sites that sell late-model used cars owned by private sellers across the country. No pushy salespeople. An online representative asks a few questions about what you are looking for and explains the concept. I think that qualifies as the alternative people are seeking. It is all about value.

Far be it from me to push a friend or someone into a luxury vehicle. Actually, we are about saving money, but we are also all about spending it wisely. And we all earn our money through hard work. Sometimes we need to stretch out once in a while to enjoy it.

If we look at a car as a value investment, we are looking to get the most payback, short term and long term, for the price. If you throw the pleasure factor in, and look at the long-term resale value of these luxury cars, they may just be the best value. It is the same logic that makes a growth stock a value stock if it is priced right.

It took some time for this concept to sink in for my friend. Two things eventually excited him: the availability of really nice cars for roughly the same cost as an ordinary new car and the choices and ease of buying offered by the online experience.

Here are some pointers about the pre-owned luxury-car segment:

Surprisingly low prices. Prices for a late-model used luxury car might be $10,000 to $20,000 or more lower than the equivalent new one. Like most cars, most depreciation is in the first two years. But wealthy luxury car buyers want new and shun the others, giving a larger initial price drop. After that two-year period, they tend to hold their value better.

Better warranty. Most luxury cars have a five-year, 50,000 mile warranty, two years and 20,000 miles better than most ordinary cars. Compared with buying new, you may get just as much warranty with one of these vehicles.

Better care. Most people take better care of luxury cars. They are kept in garages, and people do not drive the wheels off of them. Most have low mileage.

Price and facts are out in the open. True, the price is lo-haggle and you will mot be able to negotiate it down too much. Further, the company is usually not compensated by the amount of a deal.

More choices. Part of what differentiates the online buying experience is choice. It is not just two or three cars in a given category, like you would find in a traditional dealership. It makes it much easier to shop.

Getting more respect. My friend ultimately bought a car online. He said this is an easy, non-threatening process. No push, no up-sell, no price games. All questions answered all facts available online.

One of the biggest concerns is reducing risk. Buying a luxury/exotic vehicle may seem expensive and risky, but the combination of lower price than a new car, usually a warranty and better care by the owner removes a lot of what we call luxury car product risk. Credible online luxury/exotic car buying experiences take out a lot of the luxury car purchase risk.

Buying a luxury car still has its hurdles, like $700 brake jobs and higher insurance costs. But these may be an Ok price to pay to get more enjoyment for what you dream for.

Maybe buying a luxury/exotic car still seems like an extravagance. But, before you settle for that Honda, Toyota , or Impala, knows that you may have a better choice.
About the Author
Victor Martel is a successful Internet specialist for buying and selling Luxury and Exotic cars online. You can view his website at http://www.finestmotorsports.com to learn more about buying a luxury or exotic motor car. You can also visit his blog at http://www.finestmotorsports.com/blog
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