How to find a luxury car at a bargain price
From a Jaguar to a Camry, or a Merc to a Commodore — here is how you could get a great deal on a luxury car.
Fancy getting hold of a luxury car, but don’t have the funds to pay top dollar for one? There’s now a way that you can do just that. Keisha Berkman, 23, bought her new Mercedes on a future value buy-back scheme. A deal in which new, luxury cars are financed and owned temporarily, before being sold back to the dealer at a guaranteed price.
“I’ve always been a fan of Mercedes cars, came in, took a test drive and fell in love with it,” Berkman told Nine News.
For Berkman, having a Mercedes A200 costs $195 a week.
“It can range from anywhere from $110 up to $140 for some of the entry level cars,” said Mercedes Benz dealer Robin Manaili.
For a Jaguar E-Pace, worth $73,000, it could cost a rate of $280 a week to have for three years.
However, the devil can be in the detail according to some brokers, who say you need to make sure that these deals don’t lock you into an unfair price, or a higher interest rate.
“The reality is, with the market at the moment and the guaranteed future values, they used to be a lot higher,” Chris Lee from Red Plum Automotive said. “The manufacturers have really cut them back to be a lot more safer or realistic.”
But basic luxury cars may already be cheaper than you think, with an A1 Audi selling for just $28,000.
So, perhaps you may be better off buying outright. But it always pays to read the fine print!