Buying A Used Luxury Car: Pros VS Cons

by Dec 28, 2021Car buying0 comments

Buying A Used Luxury Car: the Pros and Cons that you should know.

If you are planning to buy a used luxury vehicle, it’s better to understand the pros and cons. While going with used luxury cars can be very practical and economical to get your dream car, knowing about the pros and cons will help you make the right choice that fits your lifestyle.

Buying a used luxury car

One of the bigger benefits of buying a used vehicle is you can get your desired vehicle at an affordable price. This is especially true when it comes to luxury vehicles. 

Here are some pros and cons that you should know about if you are planning to buy a premium or luxury car on the used car market.

Pros of buying a used luxury car


That’s the biggest benefit of buying a used luxury car. Since a brand new car loses about 50% of its value after the first five years. While luxury vehicles, which usually have much higher price tags, usually occur a substantial loss in depreciation. When you buy a used luxury car, the big depreciation hit has already been taken by the first owner. And the value of the vehicle won’t continue to plummet on a used luxury car.

A premium experience

Most luxury vehicles come equipped with premium materials like leather seats, walnut wood trim, soft-touch plastics, and aluminum inserts. Those premium elements are way better than what a brand new mass-market car in the same price range would offer. The design is the easiest way to distinguish between luxury vs economy vehicles, as luxury design tends to be bolder and more premium looking to make it seem like you paid more than you really did. In addition, luxury cars tend to build with powerful engines which will offer a better driving performance.

Superior features

Luxury vehicles are engineered to drive smoother and quieter than economy models, and they also come with a host of safety features. A late-model used luxury vehicle can come with driver assisting technology like lane assist, parking sensors, and 360-degree camera as the standard package. Other than those tech features, luxury vehicles also make less noise when you are on the road, which also enhances your overall enjoyment of driving.

Cons of buying a used luxury car

Less fuel-efficient

An exhilarating drive doesn’t always mean higher gas prices, but most luxury vehicles come with more powerful engines that are less fuel-efficient compared to economy vehicles. With large and heavier frames, more powerful engines, luxury cars have much higher fuel consumption. In addition, many luxury car engines require premium fuel that adds to the cost of fuel.

More expensive maintenances and repairs

While used luxury cars are cheaper to buy, they are still expensive to maintain or repair. Because the cost of the parts is higher, repairs and maintenance can be more costly on luxury vehicles. Furthermore, some luxury vehicles can only be repaired by certified mechanics who are familiar with the brand. That’s another factor that raises the cost of repairs. Used luxury vehicles that have high mileage are often more complex since they will usually need more maintenance than new cars. Make sure you consider the ownership expenses before you buy a used luxury vehicle.

Shorter warranty

If you bought a used luxury vehicle, you may not be covered by the new-car warranty. You may purchase an extended warranty to give you the coverage but that’s an added cost to the owner.

Higher insurance cost

Since luxury vehicles come at a steeper price, the insurance cost on a luxury vehicle outweighs that of non-luxury cars is not a surprise. Other factors such as your driving history, address, and the insurance company can also cause different results on your insurance payments.

Learn more about the benefits of buying from Carnex. We believe that all clients deserve to know the good and bad of what they’re buying. Because we wanted to know these when we bought cars. That’s why at, we will proudly display every detail every step of the way. Browse all the best cars, automobile buying tips, auto insurance, young drivers, driving techniques, auto industry trends from Carnex Blog.

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Who is Carnex?

Carnex is an online EV dealer built for Canadians to buy and sell electric vehicles. Our mission is to provide Canadians with an alternative and transparent way to buy and sell used electric vehicles and to accelerate the transition to a sustainable green future. is Canada’s first e-commerce platform for used Electric Vehicles. Carnex is the leading Online Car Dealership in Ontario, with the company’s headquarters located in Toronto, Ontario.
Carnex is the fastest and cheapest way to buy a car online. We deliver to your door and collect your old car without extra charges. Buy Now-Pay Later Financing is available.

Why buy from Carnex?

Carnex is trusted by over 18 million buyers to find amazing discounts on used EVs and new EVs in their neighbourhood. Carnex specializes in electric vehicles, and we make the effort to make sure your EV purchase from us will be worry-free. Our skilled EV technicians perform a comprehensive diagnostic on all of our electric vehicles at Carnex because your satisfaction is very important to us. will help you find the best EV bargains among the listings across Canada, and we’ll provide you with the vehicle history and comprehensive reviews for each EV.

Why Choose Us

We choose to only sale quality and zero-accident used vehicles. We are so confident in our cars that we will shamelessly show you all the perfections and imperfections of the vehicle – from the Chasis pictures to chipped paint spots.

We also offer a 9-day no question asked return policy and an 100-day in house mechanical warranty to make your purchase risk-free.

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