Buying a Used BMW: 6 Factors to Consider

Planning to buy a used BMW vehicle? While this may be a good idea and the actual car may not break your bank, take into account additional costs and maintenance. 

Buying a new car is great, but used cars are no worse, especially those of a higher class. What do you need to be aware of when purchasing a used BMW?

Why Buy a Used BMW?

BMW stands for Bavarian Motor Works; the company’s headquarters are in Munich, Bavaria (Germany). Like Volkswagen, BMW epitomizes German practicality and reliability, with “luxury” written all over its models. BMW cars are very popular in both used and new car markets all over the world, and their participation in Formula 1 has cemented the brand’s fame.

The reason why a lot of people are keen on buying a used BMW is the depreciation cost that ultimately reduces the car price. Experts note that depreciation begins literally as the car leaves the plant. The difference may be striking: for a 3-year-old car you pay $30,000, while a 6-year-old will cost you $17,000.

The smaller price is not the only reason why people choose a second-hand vehicle. BMW 3 series models, for instance, stand out for their superior engineering quality and unrivalled dynamics. Hatchbacks and sedans are great for regular commute between home and office, while Best Used SUVs are perfect for road trips and weekend getaways.

So, to answer the question “why buy a used BMW near me“, such cars offer excellent quality for a fraction of its original price. However, there are certain factors to consider when buying any used car make, and BMW is no exception.

6 Factors to Consider When Buying a Used BMW

So, what should you, as a prospective owner of a used BMW vehicle, bear in mind when planning to buy your dream car?

Decide Why You Need a BMW

This could be your teenage dream, or an informed decision based on the car’s known image, but do ask yourself: why a BMW? How much better is it compared to other competitors in the luxury car sector? What are you going to use it for? How much money are you prepared to pay for purchase and maintenance? Making an audit of your resources beforehand will save you a lot of hassle in future.

Do Good Research

There was once a Berkeley research that stated that BMW cars were not particularly reliable. Without discussing the reliability of research itself, let’s just say that in the past decade BMW has definitely raised the quality bar. This means, in turn, that if you are buying a model that is over 7 years old, you are likely to be trapped in costly maintenance.

Given the range of BMW series, your research should span consumer reports and reviews, data on gas consumption and maintenance. Once you narrowed down your search, look into the history of servicing of a particular car. Needless to say, checking the car out prior to signing the paperwork is a must. You can do it yourself or take a mechanic to the showroom.

Check the Papers

The paperwork in question is not just a purchase agreement; there is an impressive list of documents the previous owner should supply you with before you sign the deal. The list includes:

• the previous purchase invoice;
• loan history;
• tax receipt;
• Registration Certificate, etc.

Do not hesitate to run your own checks on criminal records for the car. And, of course, transferring the car insurance in your name is one thing that must not be overlooked. It is best to transfer it rather than purchasing a new one. So do not get carried away when buying your dream car. Make a list of all required documents and check it scrupulously.

Look for a Certified Pre-owned Car

A certificate for a pre-owned car is a lasting warranty and is only issued after a serious test that fully resolves all technical and visual flaws. A typical warranty program includes a protection plan 100,000 miles, or 6 years of coverage, and provides a 24/7 roadside assistance. Naturally, such certificate will act as an insurance against hazardous events.

Furthermore, this certificate relieves a prospective owner of the necessity to test the car because it only comes as a result of preliminary testing. It also entails loans and payments plans that may only be available for used cars.

Depreciation

As we mentioned before, with time any luxury car depreciates in value. So the older is the model, the less it costs. Remember, though, that any money you may save on buying an older car may have to be spent on maintenance. Leverage the depreciation and maintenance costs before reaching a final decision.

Test the Car

Even if you end up choosing a certified used car, you should still ask for a test drive. Whether you will be travelling to and from work or take longer journeys across the country, you must feel comfortable and secure in your car. Here purchasing a used vehicle is no different from buying a new one: you must know beforehand how it feels to be on the road. If there is any inconvenience, do not go forward with the deal. And of course, if a used car is not certified, you should run a full check yourself or ask an independent mechanic to do it for you. Check the brakes, the leaks, the lights, and just about anything that may break down and cause extra expenditure.

Conclusion

Buying a used car does not mean that a buyer has not got money: often any savings that can be made due to depreciations will go towards maintaining the car. For luxury cars, like BMW, this may still be an enviable solution. Do proper research first, check the car and its paperwork, and if you are happy, enjoy the ride!