A car is a depreciating asset, as the value of a brand-new car drops substantially immediately after it goes out of the showroom. On the other hand, the value of used cars drops at a slower pace than brand-new cars. This is not just the case for mass-market cars but for luxury cars too. Hence, many financial experts suggest opting for a good value-for-money pre-owned car instead of buying a brand-new one. With the increasing preference for used cars, these pre-owned vehicles are not seen anymore as a sign of a lack of affordability. This is probably one reason why celebrities across different sectors like sports, business and showbiz are seen buying used luxury cars. This strategy helps to shave off a bulk of the sticker price while at the same time keeping the prestige factor intact.
Buying a luxury used car helps the buyer to save a lot on the sticker price. Besides that, the value of a used luxury car remains pretty high even during its second ownership, as the rate of value depreciation is significantly slower. This allows even the second owner to sell the car at a good value.
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Here are some of the celebrities who have purchased used luxury cars.
Bollywood actor Shilpa Shetty is known for her love for fast and premium cars. She has cars like Bentleys and Lamborghini in her garage. Interestingly, she has a Range Rover Long Wheelbase, purchased from a renowned pre-owned luxury car retain network. Shetty has openly flaunted this SUV, despite it being a used car.
One of the most popular actors in South Indian cinemas, Prithviraj Sukumar is known as an avid petrolhead. He purchased a used Lamborghini Urus painted in a glossy black SUV from a Kochi-based dealership.
An ace cricketer who played for the Indian national team, Yuvraj Singh is known for aggressive batting. Besides that, he is also known for his love for sports cars. Yuvraj, too, is among the celebrities who purchased 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 from Shark Tank India fame has been vocal about buying a used luxury car instead of buying brand-new models. He said that it is better to own a used luxury car rather than buying a brand-new model that could get scratched on the road. The businessman said that he owns a used Mercedes-Benz GLS SUV.
First Published Date: 09 Feb 2023, 10:29 AM IST