5 Important Factors To Consider – Is It Worth Buying A Premium Luxury Car In India?
Everyone wants to drive the worlds richest car for reasons such as luxury, exclusivity and sheer performance. Luxury cars in India are designed with swooping lines, glossy paint, leather interiors and all the gadgets you can think of. Most owners don’t stop there, often upgrading their rides with the best car accessories. But is it worth buying a premium luxury car in India? If you can afford one, then the answer is a resounding yes!
Checklist for buying a luxury car
In the past, there were only two categories of cars, affordable and luxury. Today we have several options to choose from, however, the premium luxury car stands apart in a class of its own. Luxury car interiors have high-end materials made of leather and Alcantara, heated and ventilated seats, all types of electronic gadgetry for navigation, information and entertainment and high-performance engines with advanced suspension set-up. All this equates to a smooth and comfortable ride that very few people can afford.
Here are some factors that you should consider before you buy a premium luxury car.
What is the residual value of the car
This is the value of the car after a few years when it comes to reselling it. Some brands hold onto their value quite well such as Audi and BMW, without the resale value plummeting to an all-time low. Luxury cars are known to depreciate in value quite quickly mainly because there are newer models that cause them to be outdated with every new generation. Resale value is most affected by the build quality, car condition, brand value and reliability.
Is it expensive to maintain
Premium luxury cars have a reputation for costly spare parts and maintenance due to the specialised components and patented equipment that is available only with official dealerships. A simple job such as an engine oil change, wheel alignment or suspension component may set you back quite a few bucks. Many of the spare parts are imported from Europe or USA which drives up the costs. Mechanics will also have to go through manufacturer training to handle such jobs. However, you can have peace of mind that your car is always running at its best.
What is the fuel economy?
This is not a factor to consider assuming the price you pay for such an expensive car, but the fact is luxury cars have large and powerful engines, usually a V8 with high cubic capacity. These engines require more fuel to run and they may require premium, high-octane petrol which costs more than standard fuel. If you use a luxury car as a daily driver, monthly costs will soon add up, so you should make a note of cars that have a tendency to sip fuel excessively. Modern luxury cars now offer hybrid powertrains that use an electric motor to increase fuel efficiency, thereby making these cars a variable daily driver.
Enquire about warranty
Luxury car manufacturers offer extended warranties on engine components, batteries, rust prevention and many other domains except consumables such as tyres, engine oil and brakes. Even though these cars are reliable and trustworthy, you can never anticipate a road accident which may lead to expensive repairs and replacement of parts. Electrical components are notorious for giving up when least expected, so these devices are usually covered under warranty. A long-term warranty makes a premium luxury a good investment.
You can be assured that a luxury car will come with best-in-class safety features to keep the driver and passengers safe on the road. Features such as airbags, electronic traction control, antilock braking system, collision avoidance system, lane departure warning and hill hold assist are some of the standard safety equipment you can expect from premium luxury cars such as Volvo and Mercedes Benz. Government authorities are also mandating these features on all cars in order to make them road legal and save more lives in the event of an accident. Some of the most advanced safety systems are available in luxury cars, with some cars allowing the driver to take their hands off the wheel. Tesla has an automated self-driving feature that uses computers and robotics to drive the car without human intervention. These systems are claimed to be safer than human drivers.
Also, read about Auto Transport Brokers and Car Carriers.
Premium luxury cars are a sign of the car owner’s high social status which many people in India aspire to achieve. These kinds of cars are usually owned by big business magnates, politicians, movie stars and millionaires. Brands that come to mind are Rolls Royce, Mercedes Benz, Audi, BMW and Range Rover. These cars are the epitome of luxury and not many vehicles can match their performance and comfort.
If you are considering buying a premium luxury car, take some time to browse through the pros and cons of owning a driving an expensive vehicle. You can make an informed decision and end up buying a car that suits your needs and fulfils your dreams as well.
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