BMWs are loved by many due to their luxurious and comfortable cars. Even though they are expensive to acquire when new, they tend to have really low resale values. Most cars depreciate at a rate of 5% for the first five years. However a BMW depreciates at a rate of 7.1% for the first five years. This therefore means that BMWs have relatively low resale values. Below are some reasons why used BMWs are sold cheaply.
1. They are luxury cars.
If you take a good look at the trend, you will realize that most luxury cars have very low resale values. This is mainly because most rich people do not love to go for used but brand new cars which means that for a used luxury car to be sold, the price needs to drop so that anyone can be able to afford it and the demand grows.
2. They are expensive to maintain.
The major reason why luxurious cars are left for rich people is because of the maintainance and repair costs. BMWs spare parts are very expensive to replace and maintain and they also need mechanics who have specialized in their repairs. This makes the maintainance cost for anyone who would love to own these vehicles very expensive. Since most people do not love cars with high maintenance and repair costs, very few people will go for used BMWs unless its just for show off.
3. The technology used.
If you are very keen on buying BMWs, then you might have realized that when they are releasing a model update, then the shape of the model does not change that much but rather the features. This is because BMW concentrates more on improving the level of technology in their vehicles in order to make them more appealing and luxurious. Even though this makes the car drive better. These systems are always very complicated and expensive to repair when damaged.
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