A car is a depreciation good because the value of a brand new car drops significantly immediately after it leaves the showroom. On the other hand, the value of used cars decreases more slowly than new cars. This applies not only to mass-market cars, but also to luxury cars. Many financial experts therefore advise investing in a cheap used car instead of a new car. With the increasing preference for used cars, these used cars are no longer seen as a sign of lack of affordability. This is probably one reason why celebrities from various fields such as sports, business and showbiz are spotted buying used luxury cars. This strategy helps save a lot of the sticker price while still maintaining the prestige factor.
From:
HT car
Updated on:
2/9/2023 10:29 am
Buying a used luxury car saves a lot of money on the sticker price instead of buying a brand new one.
Buying a luxury used car helps the buyer save a lot on the sticker price. In addition, the value of a used luxury car remains quite high even during the second ownership, since the rate of depreciation is significantly slower. So the second owner can also sell the car cheaply.
Also read: The Range Rover SV Lansdowne Edition is an ultra-exclusive luxury SUV
Here are some of the celebrities who have bought used luxury cars.
Shilpa Shetty
Bollywood actress Shilpa Shetty is known for her love of fast and quality cars. She has cars like Bentleys and Lamborghini in her garage. Interestingly, she has a long-wheelbase Range Rover purchased from a reputable luxury used car network. Shetty has openly flaunted this SUV despite it being a used vehicle.
Prithviraj Sukumar
One of the most popular actors in South Indian cinema, Prithviraj Sukumar is known as an avid petrolhead. He bought a used Lamborghini Urus in a gloss black SUV from a Kochi-based dealer.
Yuvraj Singh
Yuvraj Singh, a cricket ace who played for the Indian national team, is known for his aggressive batting. He is also known for his love of sports cars. Yuvraj is also one of the celebrities who bought a used car. He bought a BMW X6 M as a used car. He also owned a Lamborghini Murcielago and a BMW M5.
Ashneer Grover
Shark Tank India’s Ashneer Grover has been vocal in favor of buying a used luxury car rather than buying brand new models. He said owning a used luxury car is better than buying a brand new model that might get scratches on the road. The businessman said he owned a used Mercedes-Benz GLS SUV.
Initial Release Date: 09 Feb 2023, 10:29 AM IST
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