Luxury Car: To Buy or Not to Buy - That is The Question

If you are considering buying a car there might be a tough choice before you: to buy a luxury car or an auto with an ordinary package. There are some things you should know about expensive automobiles before making a final decision. These prestigious luxury car makes like Bentley, BMW, Lamborghini, Ferrari and Mercedes Benz attract our attention being among some of the expensive vehicles on the road. They add to the personal status of the driver and show his welfare to the world. Buying such expensive motors you should consider some factors before you spend $50,000, $100,000 or even more on a luxury car.

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1. Expensive car means expensive insurance

Be prepared to spend, let's say, $400 each month to obtain adequate car insurance for your luxury vehicle.

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2. Premium Type Fuels

Luxury cars usually have precisely tuned engines that require premium or high octane fuels in the gas tank.

3. High Operating Costs

An exotic luxury vehicle demands expensive oil and filter change, but the advantage of it is that you have to do it a lot more rarely than in ordinary cars.

4. High-Priced Repairs

If you purchase a used luxury car with no longer covered under the manufacturer's warranty, repairs can be quite expensive. Prestigious cars' specialized workshops have discounts so that will save you money later.

5. May not have the Best Resale Values.

Although exotic luxury cars usually sell for a lot of money when they're brand new, they don't always bring the best price when it's time to selling one. In fact, very expensive luxury cars tend to depreciate even faster than other types of vehicles. So, if you need to sell your luxury car within a few years, prepare to lose a significant amount of your investments.

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6. Luxury Cars can be Harder to Sell

Not only do luxury cars lose their value rather quickly, they can be difficult for sale. Even if a $100,000 luxury car loses 20 or 30 percent of its value in the first year, it can still be extremely difficult to sell a used car for $70,000 or $80,000. So, unless you are prepared to sell the car at a deep discount, try to choose a luxury vehicle you will be pleased with for five years or more.

The biggest reason in favor of a luxury car over a new ordinary car is will have more features than the new compact. They can boast better technology, park assist, a sunroof, automatic climate control, heated seats, leather and other features that still aren't commonplace in today's smaller cars.