I’m surprised no one mentioned the very fact that these used luxury cars depreciate like sliding down from smooth slope. Any new purchased car loses its value by 20% as soon as it steps out of showroom and this loss is more bitter for luxury cars.
If you get time, search for bank’s auction of cars and you would be surprised how many luxury cars are there for auction sale.
Not everyone can afford to purchase luxury car or purchase it and afford its maintenance, repairs etc. That’s why most luxury cars are taken back by banks who had offered car loans.
One of the biggest reason of selling used l…