We recently caught up with Brett Gordon from Dig My Ride to discover if luxury cars do last longer. This is what he said…
“It is highly logical that if you pay more money for something, it should either be of excellent quality or last longer than the same thing bought at a lower price. Most people are inclined to believe this also applies to cars. For the price of a luxury car, you would expect that it may be able to last decades. However, this is not necessarily the case, and for reasons that you may not expect.
Reasons why luxury cars last longer
Better design and performance
Most cars will run for around 200,000 miles, which is more or less ten to fifteen years if the vehicle is cared for well. If it seems that luxury cars can outlive a mid-range car, there are two significant reasons. First, luxury cars are made better. It’s not just automated lights, plusher seats, or a fantastic sound system.
The engineering of a luxury car is of a way higher standard than a regular sedan. They’re built for better engine performance, have more increased horsepower, sleeker body design. It’s a better car than a cheaper car, and therefore, it won’t break down so easily.
Better upkeep by owners
A second reason why luxury cars last longer is that owners are more likely to take better care of their car. Of course, if you put out a lot of money for something, you would be more careful about using it, getting the best products to clean and maintain it, and take it to the shop for routine check-ups without fail.
You probably also won’t drive it much, to try to keep the mileage at a minimum. But this is mainly why a luxury car would last longer than an average car.
Value drops quickly, though
However, the value of a luxury car drops very quickly and quite drastically. Buying a luxury car as a financial investment is not a good idea. Unlike houses and real estate, which appreciate over time, cars depreciate every year, even as much as £1,200 ($1,500) within the first year alone. Reselling your vehicle won’t get your initial investment back because most luxury car owners trade their fancy cars in as soon as they become outdated. Second-hand car shoppers refuse to pay a lot of money on an obsolete vehicle.
Why people buy luxury cars
So why are people still willing to spend an excessive amount of money to own a luxury car?
Buying even a mid-range or a second-hand vehicle is already a big deal – it is a purchase that significantly affects your budget. After purchasing the car, you will still put out money to pay for gas, car insurance and to keep it well maintained. Because it is such a significant expense, buying a car is already a luxury in itself.
Better value for your money
We go back to the notion that if something is more expensive, then it has better value for your money. This is how some luxury car owners justify buying an Audi instead of a Toyota. You’re going to buy a car anyway, why not buy the better one? And with all the prestige that the more expensive car flashes on its hood, you look good to other people, too.
This is the second reason why people buy luxury cars: it’s not just a car; it’s a status symbol. Flashy luxury cars are sleek and shiny and catch everyone’s eye as it zooms down the street. It brags prestige and exclusivity and implies that since you could buy this car, you have achieved prominence in your career and financial situation. Significantly, it also boosts your self-esteem, making you feel good about yourself and what you’ve already accomplished.
Points to know before purchasing your luxury car
If you’re keen on buying a luxury car, then perhaps you can afford it and have indeed achieved career prominence and financial stability. But if you’re reading this article, chances are you care about spending your money wisely and are careful not to lose too much of it. In which case, you should be aware that luxury cars run on premium-grade gas.
Repairs and upkeep for all luxury cars are more expensive than for regular vehicles. No matter how well you care for your luxury ride, it will still somehow break, and you’ll need to get it fixed. Also, regular maintenance costs are not cheap. Parts, service, maintenance – these are also offered at premium prices.
Be ready to spend a lot more to take care of your luxury car. This is, after all, the best way to make your luxury car last longer.”
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