The Pros and Cons of Buying a Pre-Owned BMW
- December 27, 2022
- Auto Info
- Posted by Charles Oehmke
- Comments Off on The Pros and Cons of Buying a Pre-Owned BMW
Purchasing a car is a big decision, and there are many factors to consider. One option to consider is buying a pre-owned BMW. While a pre-owned BMW can offer many benefits, there are also some potential drawbacks to consider. In this article, we will explore both the pros and cons of buying a pre-owned BMW to help you make an informed decision.
Save Yourself Some Money
One of the biggest advantages of buying a pre-owned BMW is the cost savings. A new BMW can be quite expensive, and purchasing a pre-owned model can save you a significant amount of money. In addition to the initial purchase price, pre-owned BMWs may also have lower insurance costs and registration fees. This can make owning a BMW more affordable for some buyers.
With so many BMWs on the market, you can opt for a dealership pre-owned car with all its certified checkpoints, or buy from an independent owner. Regardless of your choice, you have the option of having a pre-purchase inspection at our shop. We’ll review the major systems of the BMW you’re considering and give you our transparent report regarding its true condition. This will help you have peace of mind when deciding to move forward with purchase or not.
You can Afford an Upgraded Model
Another benefit of purchasing a pre-owned BMW is the opportunity to own a higher-end model that may not have been within your budget when it was new. Many pre-owned BMWs are luxury models that were only available at a high price when they were new. By purchasing a pre-owned BMW, you may be able to own a higher-end model that offers more features and performance than you could afford if you were buying a new car.
Avoid Major Depreciation on your Investment
In addition to the cost savings and opportunity to own a higher-end model, pre-owned BMWs may also have a lower depreciation rate than a new car. A new car can lose a significant amount of its value in the first few years of ownership, but a pre-owned BMW may have already gone through this initial depreciation. This can make a pre-owned BMW a more financially sound investment than a new car.
Potential Downfalls to Buying a Pre-Owned BMW
However, there are also some potential drawbacks to purchasing a pre-owned BMW. One of the biggest concerns is the unknown history of the car. When you buy a new car, you know exactly what it has been through and how it has been cared for. With a pre-owned BMW, you may not have the same level of information about the car’s history. This can be especially concerning if the previous owner did not maintain the car properly, as this can lead to potential issues down the road.
Out of Date Warranty
Another potential disadvantage of purchasing a pre-owned BMW is the lack of warranty coverage. Most new cars come with a manufacturer’s warranty that covers certain defects and repairs for a certain period of time. When you purchase a pre-owned BMW, this warranty may no longer be in effect, leaving you responsible for the cost of any repairs or maintenance. This can be a significant expense, especially if the car needs major repairs.
Nikolas Motorsport: Bring your Pre-Owned BMW to us for a Pre-Purchase Inspection
There are both pros and cons to purchasing a pre-owned BMW. The cost savings and opportunity to own a higher-end model are compelling reasons to consider a pre-owned BMW, but the unknown history of the car and lack of warranty coverage are potential drawbacks to consider. It is important to carefully weigh the pros and cons before making a decision to ensure that you are making the best choice for your needs and budget.
If you live in or around Bloomfield Hills, Farmington Hills, Rochester Hills, Royal Oak, Troy, or Pontiac, MI, Nikolas Motorsport is happy to help you with your questions regarding the condition of your potential BMW purchase. Call us today to discuss an appointment or stop in to see if we can fit you in for a pre-purchase inspection. We want you to always be happy and safe in your automobile. Visit us today!