No matter how long you have been driving for, being able to trade in your current car for a luxury model is something many people can only dream of. If you are in a position to turn that dream into a reality, then chances are you will be making sure you know exactly what you are getting for your money and not making a decision this expensive on a whim.
Letting your enthusiasm for upgrading to a luxury car get in the way of the practical details could be a major downfall when it comes to your purchase. The last thing you want to do is to get the car of your dreams only to find it isn’t the dream you envisioned it to be. So what do you need to know before you sign on the dotted line and become a first-time luxury car owner?
Factoring in the cost of your yearly insurance is a must-do when it comes to a luxury car purchase. Crunching the numbers is essential as is making enquiries into the kind of prices you can expect for insuring a motor that is more expensive than your previous model. Some insurers won’t insure certain age ranges in high-powered cars, or in specific areas of the country. It can be a postcode lottery but you need to know where you stand before driving off and finding you’re not insured or unable to be insured for your expensive purchase.
Does your car need a specific type of fuel to run? If so is this affordable or even available in your area. Some cars may only run on a specific fuel type if they are an older model. Newer cars may be hybrid or fully electric again meaning you need to make enquiries to see if this is something that will be practical for your lifestyle.
The same applies to any liquids you need to keep topped up. Your owner’s handbook will detail the exact fuel type and liquids to be used with your vehicle and these will extend the life of your car and maintain your guarantee. Swapping out lower grade or non-recommended fluids can seriously impact the lifespan and performance of your car.
Avoid buying a luxury car from a seller who openly admits to not using the recommended materials to keep their car running smoothly and opt for a dealer who sells and services Ferraris and Bentleys, among other luxury brands.
Many high-end cars will boast a bigger wheel to help with the handling and performance of the car. Unlike your standard run of the mill suburban, these tyres may not come cheap. Chances are, the price of the tyres will reflect the type of car you are driving. Car tyres wear a little bit every time you drive. When they need to be replaced you may find yourself on the receiving end of a shockingly high bill.
Price out tyres – and for that matter any other parts that are likely to need replacing due to wear and tear, and make sure you know an approximate cost before you need to replace them. It is advisable that you trust a reputable dealer and well-known brand for the correct tyres for your luxury car over a cheaper more autonomous brand to simply save some money.
Photo Credit: Lexus