Facts About Luxury Cars
Owning a luxury car is not a far away fantasy as it may seem; you do not have to be a millionaire to own your dream car, and we are here to tell you why at Lotus West. In this blog we will be discussing the unknown facts about luxury cars. Unless you want to buy the latest and greatest luxury car, it is fairly affordable and the maintenance of the car is affordable as well. Owning a luxury car also does not mean it has to be brand new and fresh off the dealership lot, it does not lose its luxury because it is pre-owned. There are a lot of misconceptions about luxury cars and we are here to clear then up and bust some myths.
The Real Cost
A luxury car is cheaper than you think due to society’s free market. People only put high value on what is new, more powerful, and more shiny. That means that a luxury car that is just a few years old actually becomes cheaper and more affordable. This makes the pre-owned market very interesting and full of great opportunities. The value of a luxury car goes down with time due to low demand and high production of the model. For example a 2000 Mercedes S500 used to cost $85,000 when it was brand new, now you can get one for less than $10,000 and it would have less than 100,000 miles on it.
Even though the luxury car now is cheap because it is “out of season” the materials and repairs are more expensive than for a regular car. A luxury car will always be a luxury car and the materials used to create the car is still more expensive. For example a transponder key for a Mercedes costs $400 because it is custom made and can not be re-encoded, while a normal car would only cost 10 times less. However, the repairs are actually very easy to do for luxury cars and not like we hear from stories. We always think that luxury cars means that their parts are foreign and costly to get them over here.
Another unknown fact about older luxury car is that they are actually better quality and performance than brand new cars that come out today by cost-cutting everyday brands. Luxury cars care very much about the types of materials and parts used in their vehicles, so even though the car may be 10 years old it will still beat the quality of a 2019 car from an economical brand. Economical brands can have more technological advancements, but luxury cars still have a higher standard on build quality.
Hopefully this blog cleared up some myths on higher end cars and maybe persuaded you to own one of your own. Luxury cars are not as expensive as you think and they are a better quality than most cars on the market even if they are a few years old. If you are thinking of owning a luxury car of your own, come down to our Lotus West dealership or browse our inventory on our website. Have fun myth-busters!