6 Smart and Practical Tips to Know While Buying a Luxury Car
The elation of donning a luxury car is a surreal dream for everyone. These cars are everyone’s precious choice because of their charismatic look, indomitable performance, and the status they bring to a person in a blink of an eye. But owning a luxury car also comes with a heap of challenges. Hold on! We have brought you these 6 smart and practical tips to know while buying a luxury car that will ease everything for you. Trust us, if you consider these 6 smart and practical tips to know while buying a luxury car your happiness will multiply by ten times.
1) Work with a Legitimate Budget in Mind
Many times people end up purchasing a luxury car without having a realistic approach t how tough it will cost in the coming future. As a result, they often finish up spending more than their budget. So tip number one says that you must strictly abide by your budget and never get influenced by the choices offered. Set a budget that won’t trouble your upcoming future plans.
First First-time users don’t directly visit the showroom. Research well about the specifications you’re looking for in your car and compare the prices. You can also surf online to analyze the market value of these cars.
2) Smooth Availability of Spare Parts
As in India, maximum luxury car manufacturers assemble the parts imported from other countries. So the main dependence is on the spare parts that aren’t available locally which directly means that the service tax to import them is heavily levied. So one should always consider those brands which have good availability of spare parts across the country
3) Conscientious Investment in Moderate-Maintenance Luxury Car
Ideally, a luxury car is bolstered with the latest technology and complex electrical systems. It means that the service costs of these systems are also expensive. Some of these luxury cars also need top-notch fluids and parts. So all these expenses will add up when you go for yearly maintenance. So another sigma rule to follow is to opt for the cars which require mediocre maintenance and have rough-tough performance.
There are luxury cars that run on hybrid fuel mechanisms and maximize fuel without decimating the luxury. While purchasing you can be open about that as well.
4) Vigilant Introspection before Purchasing
Every luxury car has reputable and seamless technology assembled inside. Before purchasing the car, one always goes for a test drive and matches their comfort. But what needs more attention is that in case of any technical fault that appears after you purchase the car, you will hold the sole responsibility for it. So a meticulous pre-purchase inspection of the car’s technical systems is of utmost importance. One can’t miss the intricate inspection not just from the outside but inside as well.
5) Comfortable Spacious Interior
Luxury cars are attractive from the outside and have a less spacious interior. The one drawback that people see while buying these cars is that the space to accommodate them is not enough. If you buy a Mercedes-Benz, Audi or even a BMW, you have to spend more than INR 50 Lakhs to get a space that accommodates a four seated space. So that is one conscious thought you should consider before investing.
6) Attractive EMI Schemes, Discount Schemes, and Promising Financing Options
Who doesn’t love discounts? When it comes to luxury cars, we are often fetched for the best discounts or low-cost financing options. There is absolutely no shame in asking for the optimum price and last price from the dealer before making the payment. You can plan the EMI options according to your monthly salary.
Topline luxury cars now have affordable financing options and equated EMI’s for as low as INR 20- 30 thousand per month which opens the purchasing power to a larger segment of customers.
Moreover, another major factor is that these luxury cars have a resale value that covers 30-40% of the total value in the market. In case you’re opting for a loan make sure to keep an understanding of the accurate amount to be paid every month with a justifiable rate of interest.