The allure of a luxury vehicle is obvious: quality, comfort, performance – these high-profile automobiles tend to have it all. Unfortunately, they usually come with a hefty price tag as well. Just because new cars are expensive, however, doesn't mean drivers have to give up the dream of owning one of these automobiles. Used cars tend to offer better value thanks to their lower starting prices, providing plenty of options for prospective buyers.
Kelley Blue Book's January Market Report noted that luxury crossovers and SUVs appear to retain the best value. Vehicles between 1 and 3 years of age are expected to see a slight price decline in 2014, as more lease offers and an increased vehicle pool will create a greater supply of the models.
"Luxury crossovers and SUVs continue to perform well at auction, beating the luxury average in retained value for the past three model years," said Alec Gutierrez, an analyst for Kelley Blue Book. "The strong values are being driven by models such as the BMW X5 (85 percent retention for 2013), Audi Q5 (86 percent retention for 2013) and the Lexus LX (86 percent retention for 2013)."
While these options may still cost a bit more than their standard counterparts, many drivers may find that the extra expense is worthwhile, especially considering the improved performance that comes as a result.
Do you want a luxury vehicle without paying the typical luxury price? You may be able to find just that at NJ State Auto Auction. There, you can browse through hundreds of Carfax-certified cars, trucks and vans, any one of which could prove to be the ideal option for your next investment.