There are a lot of factors to consider when purchasing or leasing a new car, but those factors change when considering a high-end vehicle. One of the most important factors is to consider the resale value of the vehicle when you want to either upgrade your car, or when your auto-lease term is over.
When it comes to ultra-luxury, high-end vehicle leasing, there is no doubt that the best deals are those cars that hold their value. With this in mind, we single out a few truths and car tips about residual values that consistently apply to high-end leasing.
The first important factor when trying to determine the vehicle’s resale value is public perception of the brand, not its reliability ratings in quality surveys . Take the Jaguar for example: it is consistently rated as a quality car, but because of questionable reliability perception among the public, it takes a sharp dip in value at the end of its lease-term .
Higher-tech options and other cutting-edge features do not necessarily mean the car will fare better . By the time your car is two years old, better and cheaper systems will render the laser-guided cruise control, navigation systems and built-in cell phone obsolete.
Look for functional features, such as automatic transmissions, power windows and wheel-drive to enhance the vehicle’s value in the used car market. Functional features are the main features that someone looks for first when purchasing a car and they will increase the resale value of your vehicle down the road.
Used-car buyers view less favorably luxury vehicles that come with big incentives. These are perceived as questionable in quality and reliability.
All in all, the resale value of your car should be the first factor you look for when buying a new car. It will ensure that your new car will be as much of an asset as possible instead of costing you a ton of money down the road.