A luxury car that bristles with hi-tech features and top quality fittings has long been associated with success and if you want to show others that you have been successful a motor vehicle with a hefty price tag is not a bad way to do it.
However, despite the obvious instant attraction of owning a prestige vehicle, there are certain drawbacks and issues that you need to be aware of which might make you think that you would be better off parting with yours.
Trying to get top dollar for your vehicle will be a key priority, and you can learn more at WeBuyExotics.com about prices, but it is not just the price tag that you need to think about.
Here’s food for thought on why it might be the right time to let someone else enjoy the ride while you count your cash and plan your next move.
It shouldn’t come as a great surprise that a vehicle that costs at least twice the price, or more, of a standard family saloon, will suffer a fall in value as any car is always going to suffer depreciation, it’s just the number looks bigger with an expensive model.
There is a point where depreciation will level out and the fall in value will slow down as the year’s pass, but it is definitely a painful hit in the wallet if you were to drive a new car out of the showroom and then look to sell it a year later.
The simple math equation here is that a 50% drop in value on a luxury car through depreciation, will look worse than a 50% drop on a standard model.
That’s why it can pay to have your fun for a few years and then look to sell while you still have a chance of getting a decent sale price.
Specialist repairs can add up
It can also be a shock to discover how expensive it is to repair a top-of-the-range make and model in comparison to a more mainstream vehicle.
It could be that you have to travel out of town to find an authorized repairer and you might have to wait for parts that aren’t likely to be freely available.
Repair and maintenance costs and issues are another reason why it might not be a great idea to keep hold of your exotic car any longer.
Do you really want the attention?
It might feel great for a while to turn heads as you drive along and all that attention when you valet park can have its perks, but it is not always a great idea to draw such attention to yourself with a high-end luxury car.
Driving a fancy car can make you a target for criminals and there are better ways to create the right impression.
You want to enjoy your driving
This is a difficult one because driving a luxury car should be enjoyable, but it can sometimes be hard to truly relax when you are worried about protecting your car from damage, inside and out.
It will have cost you a lot to buy and insure the car and that can make you nervous about avoiding an accident, and do you really want kids to ride in the back?
You might find that it is less stressful to drive a car with a lower price target, if that’s the case, it could be a good time to consider selling your luxury car.