Buying luxury cars is really about buying into a certain lifestyle. If you can afford it, then there is no reason why you should not have a couple lying around in the garage.
A luxury car, as the name suggests, is a car that has been designed to a very high degree of excellence with comfort, speed, and beauty in mind. It looks as great on the inside as it does on the outside, and comes with a whole spate of ultra-special features and gadgets. You can get everything from power windows to keyless locking systems, ignition to airbags, Bluetooth wireless communications technology to a navigation system with voice recognition capability, and much more.
With prices that start at $25,000 and soar upwards from there, luxury cars are obviously not aimed at the ‘common’ segments of society. They can only be afforded by people belonging to the high income group. If you are from this tribe, you have a choice of entry-level, mid-level, super-luxury cars and ultra-luxury cars. The difference lies in prices, brand name-plates, extra features, and attached prestige. Sometimes there may not be an overt difference between car models, except in the said prestige feature.
Here are some well-known luxury car brands―BMW, Mercedes-Benz, Lexus, Audi, Acura, Infiniti, Cadillac, Jaguar, Rolls Royce, Porsche, Daimler Chrysler, Bentley, Ferrari, Lamborghini, Lincoln Navigator, Ford Expedition, and Hummer.
Buying a Luxury Car
People buy luxury cars for various reasons. These can range from ‘Well, I like the look of the car’ to ‘Won’t Mr. C go simply green with envy when he sees me driving this?’ to ‘The Company can afford it and I deserve it’ and so on. Here are a few more reasons.
- I believe in owning only the best and am willing to pay the high price for owning the best.
- I want a car with advanced driving, safety, and anti-theft features.
- I want a car with a high-powered engine.
- I am a great fan of this car company. It’s practically a tradition in my family. Dates right back to Henry Ford.
- I want an eco-friendly car. Whatever that really means.
- I think it’s classy to be defined by the car I own.
- I want to impress the neighbors. I know I already made that point. But it bears repetition.
- I can afford the high monthly loan payments. I’m RICH, aren’t I? And anyway, the Company’s footing all my travel expenses. This comes under it.
Cost of a Luxury Car
Like I already said, it ain’t cheap. That’s why it’s called ‘luxury’, geddit? If you want to buy an entry-level luxury car, it will cost you between $25,000 and $40,000 plus. Mid-level luxury cars cost between $40,000 and $60,000. Super-luxury car prices range from $60,000 plus to a little less than $100,000, and ultra-luxury cars don’t come lower than $100,000.
It’s not enough having a highly expensive car just for the snob value, so car manufacturers have spent considerable time and ingenuity in coming up with some really terrific features to make your driving experience a matter of comfort, convenience, safety, and sheer pleasure. Some special features to be found in luxury cars are:
- Airbags in three designs
- Airbag Shut-Off Switch
- Antilock Braking System
- Back Up Sensing System
- ALR/ELR (Automatic Locking Retractor and Emergency Locking Retractor) Seat Belts
- Child Safety Seat Tethers
- Crash Resistant Door Pillars
- Crumple Zones
- Electronic Stability System
- Head Restraints
- Impact Absorbing Interior Materials
- Integrated Child Booster Seats
- Night Vision/Heads Up Display
- Traction Control
Things to Check When Buying a Luxury Car
When buying a luxury car, consider the following:
- What your budget is.
- What kind of car model and which car maker appeals to you.
- What you are looking for in a car―easy handling, good performance, safety, reliability, sleek interior, comfortable seats, plenty of leg space, prestige, quietness, good dealer service, and so on.
- What the popular car reviewers say about the car you are considering.
- What your friends, if they own a similar car, say about it.
- What the car feels like on a test drive. Visit different car show rooms and check different car models with different engine, transmission, and suspension options.
- What resale value, if any, the car has. The current prestige point is sure to dip when a more appealing new luxury car arrives on the horizon, and you will no doubt want to upgrade.
- What colors and special features you want. The really, really special features are often extras that you have to pay extra for, but no point in going on a budget now when you’ve already splurged so much, right?
- What your options are for getting a good car loan.
- What kind of car insurance premium is being offered.
Last I checked, they were not exactly going like onions and potatoes, but, with a booming economy and a high earning potential, there is certainly a growing market for luxury cars in India. People either have disposable incomes enough to purchase a luxury car outright or they can afford the high monthly loan payments, especially with automobile companies and banks making it easy to get car loans.
It has also helped that the government has eased up on equity regulations and automobile import tariffs. Now all we need to do is to improve the state of the roads and the traffic; it can be kind of irksome to drive your Lamborghini at bumper to bumper, snail-pace speed―or, if you are a positive-minded, adventurous person, it can be real invigorating veering through different lanes, without missing even one single pothole.