PRLog - April 24, 2012 - LODI, N.J. -- Lodi, NJ—April 24, 2012—Experts predict the value of late-model used cars will peak in the coming weeks. Many car owners are expected to take advantage of this and trade in cars they may have only bought a couple of years ago. This is likely to cause the selection of available late-model used cars to increase and the average age of available used cars to fall. For someone hoping for up-to-date technology without the new car price, now might be the time to start looking around.
One of the most common concerns about buying a used car is that it won’t be under warranty. However, if you purchase a late model used car, it will most likely still be covered under its factory warranty. Many luxury brands have excellent factory warranties, especially BMW. All new BMWs have a 4 year or 50,000 mile warranty covering any manufacturing defect or required maintenance. According to BMW’s website, this includes: oil changes, inspection services, new windshield wipers, engine drive belts, and brake services. Because BMW keeps track of the warranty with the car’s VIN, nothing is required of a new owner to transfer the warranty to their name.
As another incentive to buying a used car, many luxury dealers offer certified pre-owned vehicles. These vehicles are subject to a variety of tests, refurbished to a “like new” condition, and usually come with warranties on top of whatever factory warranty remains. For example, Mercedes-Benz Certified Pre-Owned vehicles are covered up to 100,000 miles or for a year, beginning either at the time of purchase or after the factory warranty runs out, whichever is later. BMW and Mercedes also offer extended warranties and upgrades to current coverage for both new and pre-owned vehicles.