If you’ve never considered buying a luxury vehicle, you might want to think again. Finding a reasonable deal on a luxury model isn’t impossible. There are savvy alternatives to consider that can give you a luxury SUV at a fraction of the price. And thanks to changes happening in the auto market, you might be able to save significantly right now. Search online to see the latest prices on luxury SUVs.
Whether you’re looking to lease or finance a luxury SUV, there are deals to take advantage of that can give you the best price. Search online to see the latest deals and incentives being offered.
Now, more luxury SUVs are becoming affordable. Here’s why this is happening..
Luxury Vehicles Offer More for Your Money
While all vehicles are built to get you where you want to go, luxury vehicles do it while providing extra privileges. They are built with leading designs that prioritize comfort, performance, safety, and technology all at once. Driving a luxury vehicle can feel like an exclusive experience, with higher quality materials and prestige.
Luxury vehicles have high-end features that don’t come standard on just any vehicle. This includes perks like premium-level stereos, enhanced safety features, plush carpets, quiet cabins, and lots more. Above all, Consumer Reports says that luxury vehicles tend to do very well in performance that make them pleasant to drive.
Slow Sales Spell Big Savings
Manufacturers are still producing new vehicles despite how turbulent this year has been for the auto industry. The luxury car sector has actually seen a growing demand in vehicles, especially in Asia with Rolls-Royce models. Now might be the time to score a deal on a new SUV as companies are looking to boost sales for this year.
While a new luxury midsize SUV could run you an average of $51,000, there is reason to buy one that’s used. Leasing luxury vehicles is a popular form of business for car companies. The length of leases are typically three years, which is a time span that can depreciate 39.1 percent of a vehicle’s value. Expired leases lead to a surplus of used luxury inventory, which in turn, cause dealerships to lower the price of these barely-used cars.
Three years is a good age to buy if you’re looking for a less expensive model since it will still retain modern functionality and designs. Most commonly, leased luxury vehicles are returned to the dealership at the three- and five-year mark. And this can bring great deals for shoppers. For example, the 2017 QX60 is a luxury SUV that has a three-year-old used price of $25,967. This will save buyers approximately $27,078 than if they were to purchase it brand new.
You can also choose to lease a brand new SUV instead. For the 2020 Cadillac XT5, you could pay $389 per month for 39 months with $4,439 due at signing. There’s also the 2020 Infiniti QX50 that can be leased for $369 per month with only $3,799 due at signing.
Leased vehicles are often treated well by previous drivers. Plus, many lease contracts require drivers to remain under a certain amount of miles. This means you could end up with a gently used vehicle with only 20,000 to 30,000 miles on it and potential savings of $15,00 to $25,000.
Search Online to Find the Best Deals
Luxury vehicles bring an elevated driving experience compared to your average SUV. Not only do they look great, but even standard models will give you best-in-class features not found in just any vehicle.
Look into luxury SUVs that have just been off-leased. They are still new enough to enjoy modern luxuries, but gently used to the point where you can shave thousands of dollars off the price. You can even consider leasing for yourself if you’d find a deal that’s enticing enough.
Another way to save money is to buy older models. New inventory is brought into dealerships every year, requiring salespeople to get rid of their existing units. Strategically shopping when new vehicles hit the lot could make it easier to negotiate a deal and other perks.
Compare vehicles online to find one that’s right for you. Whichever vehicle you choose, make sure to take it for a test drive and don’t be afraid to negotiate. Search online to find the latest deals being offered by luxury brands in your area. This will inform you on current offers, sale events, and promotions that don’t happen everyday.