Buying a Luxury Car
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If you’re in the market for a luxury car, you’ll be looking at a lot of options. Generally speaking, these cars will have a higher price tag than the mainstream competition and are considered upscale models with features that aren’t available elsewhere. Luxury cars will have more opulent materials in the interior and will be more comfortable to ride in.
Many of these vehicles will also have more impressive performance than their mass-market counterparts as well as the latest safety and entertainment technology. Generally, these vehicles are more reliable than their mainstream competitors as well. If you are shopping for a used luxury vehicle, it’s important to obtain a CARFAX report before making a purchase. This report will show you if there are any reported accidents or stolen cars in the title history.
The luxury car industry is dynamic and changes quickly. Last year, European car manufacturers dominated the top of the list with BMW, Audi, Mercedes-Benz and Porsche each grabbing over 60% of online searches. Volvo stayed strong near the top with the XC60 SUV leading its class, while Jaguar and Land Rover were both newcomers to this elite group. Alfa Romeo and Ferrari made big gains and moved up the ladder, stealing spots away from Lamborghini, and Bugatti.
With all the new players in this category, buyers need to be very careful when making a decision. Typically, these brands have a long history of building high-quality vehicles with the finest materials and refined driving dynamics. A good luxury car will have outstanding comfort in the front and rear seats, isolating suspension and a luxuriously appointed cabin. Some brands, like Rolls-Royce, have a posh elegance that is reserved for a select few, while others, such as Tesla, are bringing all-electric power into the mix.
The definition of a luxury car is evolving rapidly. While saloons or sedans were once the mainstay of this category, many of these models have now been joined by SUVs with plug-in hybrid and electric drivetrains. Rolls-Royce has a new model called the Cullinan, which is its first full-size luxury SUV and it’s already attracting attention worldwide.
Other brands that have a reputation for excellence include Acura, Aston Martin, Cadillac, Infiniti and Lexus. Some automakers, such as Ford and Jeep, build a few models that are priced over $50,000, but the vast majority of their lineups fall well below this threshold. When you are considering a luxury car, keep in mind that it is usually more expensive to maintain one than a typical vehicle. Many of these premium models will have a much more aggressive depreciation schedule as well, which will further eat into your wallet over time. You may also want to check out a manufacturer’s crash test results before buying. This can be done by checking with the Insurance Institute for Highway Safety, who often tests a car for its real-world safety ratings before it is released to consumers. The IIHS will provide crash test data and a comparison with similar vehicles that have been tested by other independent agencies as well.