Cons of buying a luxury car

Well no doubt that there is lot of benefits of owing luxurious cars. You may luxury drives, comfortable and relax seat and feel secure yourself. These cars have best quality in the world. Everything of these cars is perfect that makes you happy. You feel yourself in a heaven all the time. But there are some cons of owing luxurious cars, because it increases your fuel expenses as well as you have to arrange insurance for these cars and it costs you more. Another disadvantage of owing luxury car is resale value and availability of spare parts, because resale value fell down very much because of depreciation. It is hard to find spare parts of some luxurious cars such as Porches parts, Lamborghini parts and Mercedes parts. In this article we will let you know about disadvantages of buying luxury car, let’s have a look:

Increasing fuel cost:

It is not easy to own luxury car. When you own luxury car you are actually increasing your expenses. These cars always consume extra fuel. That is why you have to pay more for extra fuel. So obviously it will increase your expense and can make you feel burden. 

Increasing insurance Expenses:

When you buy luxury car first time, one thing that can surprise you is insurance of your vehicle. Insurance companies charge you extra on these cars. Already you have spent lot of money on luxury car and then fuel expense has increased. After all these expenses you have started to feel burden on yourself and then insurance cost can make you feel more burden. 

Depreciation affects:

Every tangible asset depreciates included vehicles. Luxury cars always depreciate extra more than other cars every year. Your luxury car can take a larger bite out of the car value. For instance when you buy a car for 60000$ and it depreciates 50% that means you are losing 30000$ as compare to that car that cost 10000$ and it depreciates 75%, means you are losing 7500$.

Have to pay for minor damages: 

When you buy luxury car you have to look after this car very carefully, because little damages can cost you more. Body parts of these cars are so expensive which everybody cannot bear. You have to take care of these cars like you are looking after your kids. But if you don’t care about these little damages, then get ready to face serious damages.

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