Wednesday, September 4, 2013

Are luxury cars worth the extra money that you pay for them?

luxury cars for less on around since the mid 1980's and were popular on high end luxury cars ...
luxury cars for less image



Bert S


We are looking to buy a luxury car like a BMW, Audi, Lexus or Volvo. However, we're unsure if they are worth the additional costs. Is it worth it to buy a luxury car or should we just spend less money on a Toyota Camry?


Answer
yes, well they are if u got the money to spend

Do luxury cars depreciate faster than average cars?




Jason Sant


I am planning to buy a car. Being a business major and being the thrifty person that I am I would never buy a brand new car because once you drive it out the dealership it already depreciated. A one to two year old car is an ideal buy. My economics professor brought up a good point that luxury cars are cheaper to maintain than normal cars. I live in Hawaii which was ranked the worst state to own a car because maintainance is so expensive.


Answer
I would suggest that you use a shopping tool like Yahoo Autos. Just because it is a luxury car does not mean it depreciates less. Some drop in value faster then a lead ball in a clear sky.
I just pulled up a Ford Taurus and a BMW 5 series. Now the 5 series may not be a true luxury car but it is an up scale car. The BMW depreciates almost 30000 dollars (63%) in the first five years, while the Ford only 15000 dollars (48%). Now there may be cars that break this trend'.With the Ford only costing 26600 dollars to begin with is seems that the total cost of the car is almost free when compared to owning a BMW which looses more in depreciation then the Ford costs new.
So do some study, my gut feeling is that it takes a lot of money to buy a car that will keep its resale value up and then it will only be a percentage think. Lets face it, if a car costs 100000 dollars and it only depreciates 10% of its value in a given year, that is still a lot of money!
Sorry, I miss read the question, even if BMW throws in maintanance for free, it takes a lot of maintanance to make up for the extra 15000 dollars worth of loss on depreciation.




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