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There is no denying that for the last few years the global economy has fluctuated. Depending on who you ask, there are many theories we will not be going into them. We will leave that to Alan Greenspan and friends and let others spend time theorizing an unanswerable question.
It is important to put things in context and that is what this article does. The economy has everything to do with the used car industry. Therefore everything to do with your ability to purchase a more luxurious car because the market becomes flooded with high end vehicles at a reasonable price. When you are in the market for a high end luxury vehicle we recommend that you take some time and research who owned this car, please allow me to explain.
There is a domino effect. When the economy is doing well people lease high end vehicles and use them to their hearts delight. Here is the first possible issue one can encounter with purchasing a vehicle that was previously a lease. Some people, not everyone for we cannot make such broad assumptions, but some people tend to treat leases as though they were disposable. Since these cars are not usually kept or purchased by the lessee then they are occasionally taken for granted, oil not changed, maintenance not kept and overall very little care given to the overall car care.
Why is this a possible issue? Hmmm, because you may be purchasing a car, lets say for the sake argument a Land Rover, a gorgeous SUV with all of the bells and whistles that you yearn for. This car has 60,000 miles and is only 4 years old. It has had one lessee or owner and soon it will be all yours. What we recommend is getting the maintenance record if at all available for this vehicle. Some high end vehicles can run forever if they are well maintained, but if they are not maintained well, the repairs especially to the engine can be more costly than its worth.
Before buying a used high end SUV check the oil and the filters, if they are old and outdated and if the oil is sludge then you may want to think twice before you purchase it. You might end up buying a very cool car that is very problematic and the money you are saving by buying a used vehicle will be useless because you will end up spending it on parts and repairs. It is important to note that it is not land rovers that have issues with their engines or oil build up if the oil is not changed but this would be any vehicle from any car manufacturer. Most people have given Land Rover and Jaguar as well as other British car companies a bad rap and it might just be that the people who own such vehicles take terrible care of getting the scheduled maintenance required to run well and be problem free.
If you cannot get your hands on the maintenance receipts, if the owner did not keep this even if they did perform the maintenance there would be no proof of it. The dealership might have checked out the car by their local mechanic to make sure that it was in working order. You can have your fancy SUV and keep the cost down do your research find out as much information that you can about the previous owner of your future vehicle.