Looking for a luxury used car you can buy cheap? Careful what you wish for.
First-time owners of luxury vehicles don’t always appreciate maintenance and repair costs. Uninformed buyers may be unwittingly aiding the, “pre-owned” market for luxury cars.
Affordably priced and shortly-owned luxury cars can be a boon to budget-conscious status seekers — if they can handle the repair bills.
The cost of a brand-new car in the United States is about $36,000 on the average. Most car loans are taken out in the amount of $30,000. The average American holds onto a car for almost a decade after purchase.
Why not? Its an expensive investment, after all.
Meanwhile, the main factor for car resales within a year is the car, not necessarily the car owner. Only 1.5% of all Americans who buy a new car turn will sell it within the first year of ownership.
The cars on this list? Double and triple that rate, easily.