If you’re in the market for a new car, and you’re keen on splashing a fair share of cash in doing so, you may have found yourself asking, “Are luxury cars worth the price?” And there is no right or wrong answer to this question.
However, there are some proven pros and cons to buying luxury cars which could help you make your mind up. Here’s our take on whether luxury cars are really worth the whopping price tag or not.
Reasons why luxury cars are worth it
After all, there are multiple reasons as to why you may be considering purchasing a luxury car: whether it be for the performance and technology, or for the exclusivity and right to flex. Anything is worth it if you’ve bought it for a specific purpose and you like it. Some individuals are lucky enough to win luxury cars through cash competitions.
Although it is very much true that a car’s value depreciates over time and usage, the resale value of luxury cars depreciates at a much slower and more consistent rate than with new common and above average cars. Furthermore, premium car manufacturers have earned the trust of many consumers, making them highly favourable for quality and reliability.
One of the greatest things about owning luxury cars is that they bring satisfaction to the driver as they not only feel good to own, but also great to drive. When compared to mainstream cars, many drivers think that luxury cars provide much better handling and driving, especially with sports car-like brands. The performance innovation of premium cars offers drivers a much smoother and enjoyable handling and driving experience.
Reasons against luxury cars
Luxury cars are obviously expensive – and by that we don’t just mean the price of buying one outright. The cost of insurance, maintenance, repairs, and many other expenses are higher. Any car is necessary and just owning one is a luxury in itself really. You can surely get around and go on with your day to day life on an average mainstream car. Here are some reasons against buying a premium vehicle.
Maintenance and repairs costs can bite at your bank if you own an expensive luxury car. Parts for a premium car might easily set you back twice as much as parts for a regular car. The price of repairs and oil changes for premium vehicles are likewise significantly costlier.
When you consider the expenses of maintenance and repairs, as well as the idea of paying more for insurance, you will most likely be more cautious when driving a luxury car, making you more stressed and anxious as a result. If you’re driving around in an expensive car, you will be cautious of other drivers and accidents – and even if you consider yourself an excellent driver – road accidents can occur and affect anyone.
Let’s just say, you want to be best pleased when it comes to insurance and repairing your premium motor after it gets damaged. Opt for a less luxury car and you will be less anxious when driving, and when it comes to insurance.
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