Fix Auto Paramount

5 Reasons to Avoid Buying a Luxury Car

Buying and owning a luxury car can be a rush in many ways. They can instantly bring you much respect on the road and even make your neighbors jealous. But, owning a luxury vehicle has its own set of challenges and potential headaches, mostly involving expensive repairs and big maintenance bills. At Fix Auto Paramount, we work on luxury cars and we truly appreciate their style, performance and beauty, but we want to give you some sage advice before you buy that Porsche, Tesla, Bentley, Lexus, Jaguar, etc. 

1. Repairs

Many people, even car-crazed enthusiasts, believe that luxury is synonymous with dependability, but that isn't always the case. Most of today’s high-end vehicles are filled with intricate electronics and multiple systems and most of them are expensive to fix.

2. Maintenance

Routine maintenance -- brakes, tune-ups, oil changes, tire replacements -- can be far more costly with a luxury car. Also, these parts tend to wear out faster on a luxury car, especially if it's a performance-oriented model. That means you may be spending money for maintenance more often than you thought you would.

3. Depreciation

The day you take over ownership of any car, especially a luxury one, count on losing 25% of its overall value. Depreciation is always an important factor to consider before buying a luxury car.

4. Insurance Coverage

Since a luxury car is more expensive than your standard vehicle, it will also be more costly to insure. That makes sense, but many shoppers don't account for insurance rates when buying a luxury car. We suggest you call an insurance agent before purchasing a luxury car, so that when you go to buy the insurance on your new vehicle, you won’t go through sticker shock all over again!

5. Gas

While some luxury cars are easy on gas, most include big, powerful engines designed for speed and performance and most of them are not worrying about fuel economy. Be certain to consider a car's fuel economy before buying any car and figure out exactly how much it will cost you to own and operate per monthly an annually. If it's not affordable, consider something with a more efficient engine.

So, if you’re thinking about buying a luxury car with all of the prestige that comes with it, think twice and do your research before making the big decision, brought to you by Fix Auto Paramount, a shop that cares!