Buying a car is no small affair, as it can not only provide sticker shock, but also take an enormous toll on wallets and budgets. Indeed, Consumer Reports noted that the average cost of new cars is now more than $48,000 — up a whopping $6,000 from two years ago and $10,000 from September 2020, according to Kelley Blue Book.
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In the fourth quarter of 2023’s used vehicle market, average APR and down payments hit record highs, according to Edmunds. Indeed, APRs climbed to 11.6% on average, up from the third quarter’s Q3’s average of 11.2%, and 10% from a year ago.
Against this backdrop, consider that if you’re considering buying a luxury car, going the used-car route might be the way.
“A model that’s too expensive for your budget when purchased new may be affordable if you buy it as a used car,” wrote automotive journalist Chris Teague in a recent US News & World Report article.
Here are a few luxury cars that are better to buy used, according to Teague.
2019 Genesis G70
The G70 sports sedan is available with up to 365 horsepower from a twin-turbo V6. “The car’s handling is sharp, and it offers good ride quality in most situations,” according to Teague.
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2019 BMW X1
This is the carmaker’s smallest SUV. In addition, its engine delivers 228 horsepower and all-wheel drive is available.
“There’s ample power in most situations, and the SUV’s handling is surprisingly sharp,” Teague noted.
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2019 Audi Q5
Per Teague, this model has a “luxurious interior with forward-looking tech,” and is available with up to 349 horsepower.
2019 Volvo XC40
The car has a spacious interior, is available with up to 248 horsepower and can be outfitted with all-wheel drive.
2019 BMW 2 Series
This car is “powerful and small,” and is easy to maneuver and lively on the road. In addition, its top powertrain makes 405 horsepower, and buyers can upgrade from rear- to all-wheel drive, Teague reported.
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2020 Porsche Taycan
This is Porsche’s first electric car. It’s available with up to 750 horsepower and the range reaches 203 miles, according to Teague.
This article originally appeared on GOBankingRates.com: 6 Luxury Cars That Are Better To Buy Used
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February 14, 2024 at 07:30PM
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