Many people measure success with the house you own or the size of the car that you buy. We have dreamt of the first vehicle that we’ll buy as soon as we have saved enough money. For some people, cars are a symbol of status, and when you have purchased your first car, it is considered a significant stage in one’s life.
Difference between luxury and performance
There are cars like Mercedes, BMW, Audi and those like Honda, Ford, and Toyota which are all used for the same purpose but are still a class apart. Even though the difference between them isn’t defined, the former are classified as luxury cars and the latter, mainstream cars.
Luxury cars tend to be more impressive when compared to their mainstream counterparts in some areas like the body design, interior materials, ride quality, noise cancellation, power, performance, and technology. These are a few reasons why luxury cars make it to everyone’s dream list.
When we are planning to buy a car, we are often split between the choices; luxury and performance. Many of us unknowingly fall prey to the temptations laid before us and end up choosing luxury over performance. Who says that we can’t have both?
Here are some suggestions that I have to offer to those who are about to make a purchase soon.
Service Cost
Luxury cars have been fitted with over-the-top technology and facilities, and this is part of the appeal behind them. They need higher grade fluids, and the parts that are used in them are of the best quality, from the air filter to the clutch plates. Hence, the services needed to maintain them are expensive. Performance cars have the same issue of repair expenses because their spare parts are not easy to find and are highly costly.
Reliability
The cost of a car does not account for its reliability. Most of the luxury cars have been designed for the international market, keeping in mind their driving conditions and environment which also makes them age faster which can make them less reliable. On the other hand, you will find that there are performance-based sports cars that are far more reliable as they have a powerful engine and offer more horsepower.
Car insurance
An expensive car can be equally expensive to insure. This coverage has to be paid annually while its resale value is falling. High-performance car parts are often more expensive and when you are in an accident, getting the right parts, which may be limited production, will cost more than parts for a car that is mass produced.
Resale value
When it comes to luxury cars, their resale value depreciates quickly. Some dealers offer buy-back plans, but that depends on the condition of the car at the time. Sports cars tend to be recession-proof, as they cater to the high end of the market spectrum where luxury and wealth go together. And some less striking models tend to depreciate slower, although those who buy sports cars are looking for flashy exterior and not just performance. It is highly unlikely for the sellers to get their investments back in full.
Since buying a car is a significant investment and your preferences are unique to you, consider all your options and make the best choice possible. Your dream car may be high in the luxury department; they don’t have to fall short on performance and vice-versa.
