Before you embark on a journey to search out a used BMW near you, it’s probably important to do a check and balance on what the benefits and drawbacks are of purchasing a used BMW. Just because the vehicle is used doesn’t necessarily mean there are any negative connotations that come with it. However, there are some important elements to keep in mind with your search and whether you’re searching for a used BMW with certain features, mileage, or a specific model year. This article will cover some of the basics and benefits of buying a used BMW and what you should take note of as you prep to make this very important purchase. So without further ado, here are some of the benefits of buying a used vehicle from one of the most prestigious luxury brands on the market.
Benefits of a Used BMW: Price
Buying a new BMW at the MSRP will set you behind anywhere from just over thirty thousand dollars up to well over several hundred thousand dollars depending on which vehicle you get. Depending on the budget you have to work with and the kind of BMW you’re looking to purchase, sometimes the best option is to cut your losses and eye a used BMW to shave off the cost of entry. Used car prices are always lower than the exact same models that are available brand new. You can usually grab a used BMW for several thousand less than the MSRP of that model year. This can make a huge difference with how much you have to put down or whether or what your monthly payment will look like.
The best benefit of used prices for a BMW is that they can determine whether a BMW is just within or just outside of your budget. Maybe a slightly older model has a drop in price, or maybe a certain trim line is out of fashion, and you can get one for cheap. There are many factors that go into vehicular pricing, and getting a used car – even from a luxury line like BMW – can go a long way in shaving off the cost of entry. Shopping around to find the right kind of BMW that not only has the features you want but is also affordable makes the used route the more preferable option. When you buy used, you can sometimes find deals on popular models or luck out and find something that has been discontinued.
Benefits of a Used BMW: Certified Pre-Owned
Some of the biggest worries about purchasing a used vehicle center around wear, tear, repairs, damage, and most importantly, mileage. A lot of people will be hesitant to go the used route if they feel they’re getting something less than what they feel they deserve for the price they’re putting into the vehicle. Well, there is a solution for that: certified pre-owned.
A certified pre-owned vehicle goes through rigorous testing, inspections, and actual certification before it can be classified as “certified pre-owned.” This is a method that manufacturers and dealers use to entice potential car shoppers because it means you’re not just getting yet another standard used car, but one that has a very specific standard of quality attached to it. In the case of some certified pre-owned vehicles, it means that there is a limitation on how many miles the vehicle has on it. So you won’t have to worry about looking into purchasing a used BMW that’s hitting something close to the 200,000-mile mark, or you’re stuck investing thousands upon thousands of dollars into the vehicle’s maintenance in order to repair vital components.
Most certified pre-owned vehicles have a limit of mileage set on them, which works out great since you’re not purchasing a used vehicle that happens to be on its last legs. Certified pre-owned vehicles such as BMWs also come with multi-year warranties. So not only are you guaranteed a working vehicle, but also the dealerships offering certified pre-owned vehicles will also offer additional repairs, maintenance, and even roadside assistance in case anything goes wrong. It’s a great set of guarantees, and sometimes it means you’re getting a vehicle that is nearly on par with a brand new vehicle off the lot as far as quality and assurances are concerned.
However, the flip side to certified pre-owned vehicles is that they do cost more than standard used vehicles. While a standard used BMW can see a price drop of thousands of dollars due to high mileage, a history of problems, or due to the vehicle needing a lot of tender, love, care, and maintenance. Certified pre-owned vehicles are certainly much cheaper than the standard MSRP, but you will find that their price won’t drop anywhere near quite like that of other used vehicles. So, you get the assurance that the car is in good shape, but you have to pay for that assurance.
Do you sacrifice your budget for convenience and guarantees? Or do you give up the warranties and service in place of a lower price that better suits your budget? The fact that these options exist is still quite exciting because as you maneuver through the car-shopping process, you can find what best works for you and how you would prefer to approach purchasing a BMW. So, whether you find a regular used model with some miles on it or a shiny certified pre-owned that feels like it just left the factory, you are still going to be saving money and getting what you want.
Benefits of a Used BMW: Model Availability
Another big benefit of going with a used BMW is model year availability. This may not seem like a huge plus to buying used, but it is. Mainly because older model years are more widely available once they become classified as outdated and the new model years are released. BMWs, even older model years, are still luxury cars from the ground up. It’s not like driving a 2016 BMW is going to get jeers and sneers from onlookers. It’s also not like you’re going to be bereft of quality exterior or interior features as well.
Most BMWs are ahead of the curve, so even if you go with a 2015 BMW 328, you still have access to LCD touchscreens, satellite radio, surround sound systems, and optional features such as voice-activated radio and MP3 decoding. Being able to selectively pick and choose a model year that not only appeals to you aesthetically but also one that comes with many standard and luxury amenities makes for a perfect case scenario for most car shoppers, especially when it comes to BMWs. That’s not to mention that used car shopping gives prospective shoppers 20/20 hindsight, so they can most assuredly know whether a specific model year had any recalls, serious malfunctions, or service-related issues.
Benefits of a Used BMW: Financing
There’s a give and take situation when it comes to financing a used vehicle, especially a BMW. There’s also some good news and bad news when it comes to financing a luxury line of sedans and SUVs. Typically you need a fairly high credit score before you can be approved to purchase a brand new BMW, which may turn some people off from the brand. However, you don’t need an equally high credit score when it comes to purchasing a used BMW. The flip side to used BMWs is that the interest rates for auto loans are higher.
Another plus is that many certified pre-owned dealerships are typically willing to work with car shoppers who want to finance a used vehicle. So even if you don’t have the best of credit, and even if the interest rates might be higher, it still might be easier for you to get an auto loan for a used BMW as opposed to buying brand new, which still works out in favor of potential shoppers. Hopefully, this helps set you on your way as to which route you might want to take regarding purchasing a used BMW.
Benefits of a Used BMW: All the Luxury You Want
The benefits of buying a used BMW are above and beyond what most car shoppers would expect. When you buy a used BMW, you are getting all the best parts of a BMW, like luxury features and performance, for a fraction of the price. Plus, you have so many more options in terms of which model you want to buy, features, financing, and so much more. If you have been hesitant about buying a used BMW, you don’t have to be. Head on down to your local used BMW dealer and see just how easy it is to get your hands on one of these amazing models today.