Should I Buy a Used Jaguar?: The Top Benefits of Buying Used
So, you want to own a Jaguar. That’s understandable They’re a dream to drive and reliable to own. The question, is can you afford it?
Buying a car is expensive. And, if you want a new one, you’ll shell out some serious cash. Especially, if you’re considering the luxury variety. The average new luxury car comes in at a sticker price of $55,000. But, that’s not the grand version of a luxury car. It’s an entry-level one if you can imagine it. And, the monthly payment of almost $500 is even harder to imagine.
The average person can’t afford that kind of payment. But, they can afford the used version. Why not buy a used Jaguar? Just because you’re on a budget doesn’t mean you should cut the Jaguar from your options. Buy used and reap the rewards!
Buy a Used Jaguar: Why it’s Your Best Choice
Don’t settle for a lesser car, or accept one outside your budget. You can have both. All you need to do is search for a used version of the new Jaguar you’re dreaming of. Here’s why it’s the best option!
Lower Sticker Price
There are a few new Jaguars that start in the $40,000 range. But, the flagship models are far higher. Try twice that number for the best of the best.
Who can afford that?
A used Jaguar can often cut thousands off that sticker price. Sometimes, you can find a two-year difference equals a 25% reduction in price. But, only if you’re willing to settle for an earlier year’s model.
Some Jaguar models are in their 8th generation! There’s sure to be something you’ll love in the used market.
Better Value than New
Let’s talk about depreciation for a second.
A new car depreciates so fast, you’ll get whiplash if you track it. It starts the minute you drive it off the lot.
In fact, it could lose up to 10% of its value in the first month! After 12 months of ownership, you can expect your new car to lose about 20% of its value.
Let’s look at the numbers. If you bought a new car for $40,000, then the value of your car after a year would be only $32,000. That’s $8,000 you’ve lost on your investment.
The larger the investment, the more you lose. Such as an $80,000 luxury car. That’s $16,000 of lost value!
Of course, we don’t buy cars for money making investments, anyway. But, we do need to buy them. Who wants to lose that kind of money on a single, necessary investment?
But, a used car will hold value much better. Depreciation slows after the initial year and every year thereafter. The amount you invest will stay closer to the true value of the car.
You don’t have to bow down and accept depreciation because you own a car, though. There are a few things you can do to fight it.
Your vehicle depreciates based on the amount of wear and tear it receives. The more your vehicle gets used, the more wear it receives.
You can reduce the rate of depreciation by using the vehicle only when necessary. Lower mileage equals higher value. A guideline for good mileage is to plan to put only 10,000 miles on it each year.
Maintenance matters, too. Keeping up with oil changes and engine maintenance reduces depreciation. It keeps the car in next to new condition.
This keeps the value of your car high.
Certified Pre-Owned Warranty
Believe it or not, you can get a warranty on a used car.
Many car dealers do a certified pre-owned warranty. From 2 to 6 years, these warranties are equal to those of a new car warranty. And, they cover just as much.
Here is a general list of benefits you can expect with a certified pre-owned warranty.
- Guaranteed to Manufacturer’s Standards
- Dealership Brand and Specialty Service
- 100+ Point Inspection
- Best Quality Tires, Parts, and Upgrades
- Up to Date Maintenance & Fluids
- Coverage to 80,000+ Miles
Certified pre-owned vehicles give you peace of mind. And, a warranty. It’s a benefit that is worth it!
Better Car at a Fraction of the Cost
One of the best benefits of buying used is the kind of car you’re getting for the price. A luxury car is something many people aspire to own. But, few can pull it off.
Or, at least they think it’s outside their reach. Could be it’s not.
Luxury cars are much higher quality than the average brand. They’re designed for a higher caliber of driver. One who expects performance and extraordinary comfort.
Driving a used luxury car is not all that different than a new one. It still delivers luxury and style, even if it is a few years older.
Besides, who’s going to know you got it at an average car’s price? No one!
Lower Insurance Rates
Here’s a benefit that could help your budget even more. A new car is much more expensive to ensure. Buying used will get you a lower interest rate.
One of the qualifications for how your car insurance is calculated rests on what you drive. Here’s where the used Jag scores well.
You’ll get some discounts for shaving a few years off the model. The most depreciation happened at the initial sale.
Since the value is now lower, it’s easier to ensure. So, you’ll get a cheaper premium.
And the Jag has a high safety rating. That matters to your insurance company! Safer vehicles are much less likely to result in injuries to the driver and passenger.
Get One, Today!
It’s a luxury ride with an average car’s price tag. You could get a new car for the same price. But, even loaded with the best features it won’t match the luxury of a used Jaguar.
What’s to consider? You’ll have a reliable and stylish vehicle for the same affordable price!
Looking for your perfect Jaguar in the Sarasota area? Get in touch with us to see your options!