In the luxury car world, many pre-owned cars are just as prized as new ones. In fact, some previously owned vehicles come with even better financing and warranty offers. We asked three luxury car dealers about popular pre-owned models and why they’re appealing to the practical-minded driver.
Michael Preiss, pre-owned sales manager, and Kevin Dwyer, general manager
• Our most popular pre-owned cars are in the BMW 3 Series and 5 Series groups.
• The cash savings of getting a pre-owned BMW versus a new one is usually in the $4,000 to $5,000 range between comparable cars. You can sometimes find a 2-year-old certified, pre-owned car for $10,000 less, and with a better warranty, than a new one.
• The finance rates are sometimes lower than new, and depending on the model year, the warranty is extended further for pre-owned cars. With BMW’s strong certified, pre-owned program, pre-owned buyers get most of the benefits available to new car buyers.
• When shopping for a pre-owned car, people are looking for reliability. From our end, we don’t want them to come back for any issues, so we make it right the first time.
St. Louis Motorsports
Don Rochleau, sales manager
• Pre-owned Bentley, Maserati and Lamborghini cars are popular, especially the 2007 and 2008 Lamborghinis.
• The market has become so competitive, and there’s been a downward pressure on prices that’s making the purchase of pre-owned models more attractive.
• Each manufacturer’s certified pre-owned program (CPO) creates a way to increase pre-owned demand by extending warranties and having stringent inspections in place. Maserati, for instance, will soon have a program similar to BMW, which will extend the warranty out to 100,000 miles.
• People are looking for a pre-owned car that still has factory coverage and the same body style as the latest models. There’s also demand for lower mileage and documented service history.
• It’s important to buy from an authorized dealer to make sure you’re receiving the best deal possible.
Mercedes-Benz of Progress Point
Mike Dean, pre-owned sales manager
• Mercedes C-Class is always a good seller, as well as the SL 500 convertibles and the ML SUVs.
• The cash savings between a brand new 2009 C-Class and one that’s a year older is approximately $12,000.
• Like many luxury car manufacturers, Mercedes’ certified pre-owned program enhances the factory warranty. Many times, there’s also special financing on certified cars, with some models available at a rate as low as 1.99 percent.
• Having the right equipment (navigation system, heated seats and rear back-up cameras in SUVs) is important to pre-owned car buyers, as well as a car with low mileage. To some people, the right color is also important (black, silver and white Mercedes are more in demand).
• Many people already comparison-shop and check out a car’s history online before going to the dealer. The vehicle’s service history is also a good thing to check with the dealer.