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Do you think buying a luxurious car is worth the cost? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make smarter financial decisions by offering interactive tools and financial calculators, publishing original and objective content. We also allow users to conduct research and compare information for free – so that you can make informed financial decisions. Bankrate has agreements with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this website are provided by companies that compensate us. This compensation may impact how and when products are featured on this site, including for instance, the order in which they may appear within the listing categories, except where prohibited by law. Our mortgage or home equity products, as well as other home lending products. This compensation, however, does affect the content we publish or the reviews you see on this site. We do not include the entire universe of businesses or financial deals that might be available to you. SHARE: Peter Cade/Getty Images

4 min read Published March 02, 2023.

Dan Miller Written Dan Miller Written by Points and Miles Expert Contributor Dan Miller is a former contributor to Bankrate. Dan covered loans and home equity as well as debt management in his writing. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate from late 2021. They are passionate about helping readers gain confidence to control their finances by providing precise, well-studied and well-researched data that breaks down otherwise complex subjects into digestible pieces. The Bankrate guarantee

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You have money questions. Bankrate can help. Our experts have been helping you manage your finances for more than four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is truthful and precise. Our award-winning editors, reporters and editors produce honest and reliable content to help you make the right financial decisions. The content created by our editorial team is factual, objective, and not influenced through our sponsors. We’re open about the ways we’re able to bring quality content, competitive rates and helpful tools to you , by describing how we make money. is an independent, advertising-supported publisher and comparison service. We receive compensation for the promotion of sponsored goods and services, or through you clicking certain hyperlinks on our website. So, this compensation can impact how, where and in what order items appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, like our own proprietary website rules and whether or not a product is available in your area or at your own personal credit score may also influence the manner in which products are featured on this website. While we strive to provide a wide range offers, Bankrate does not include the details of every financial or credit product or service. If you’re shopping to buy a new car or you might be wondering if buying a luxury car is worth it. There isn’t a minimum cost or set of features that make an automobile a “luxury vehicle,” you will have many options =. How do you determine if a luxury car is right for you ? There are a couple of factors that you will want to take into consideration when buying a luxury car the right car for your needs. Are the features better? If the car’s performance is especially significant to you, you must pay close attention to the car’s performance ratings. By using them, you are able to measure factors like the acceleration, handling and braking power. Though not always the case, many luxury car brands boast better performance. Bankrate tip

Review ratings from third-party rating agencies such as J.D. Power as well as Kelley Blue Book to see if the performance is worth the price tag. Less-pricy cars can still be a pleasure to drive.

Do the safety ratings surpass other brands? Another factor to consider when looking at a luxury car is the manufacturer’s safety ratings. Luxury cars have a reputation as having better quality components and higher standards of manufacturing. This often leads to more safety ratings for front or front impact, roof strength and crash avoidance features like headlight brightness and crash prevention systems, as well as other ratings factors. It is the Insurance Institute for Highway Safety (IIHS) is an independent third-party organization that aims to reduce deaths, injuries and property damages caused by collisions with motor vehicles. The IIHS rates the majority of new vehicles in a variety of safety-related categories each year. When comparing luxury car makes or models car’s IIHS safety rating is an additional standard to compare against non-luxury brands. Bankrate tip

Before you sign off on the purchase of a luxury car, look which options are the most secure under $25,500.

Are the features available in a car that is not luxurious? From leather seats to sunroofs Comparing various makes and models of cars is the comparison of a myriad of features. What you value most may not match up with the standard options of a specific type of vehicle. You might consider listing out specifically what features mean the most to you this will assist you when you look for the perfect car . Some higher-end features that many people are looking for when they are considering a luxurious car include top-of-the-line entertainment systems as well as heated or massaging seats or smartphones that integrate. Deciding what is most important to you will allow you to keep your feelings in check when you are going on a car shopping. Bankrate tip

Remember that vehicle advancements are always progressing. In addition the latest features in luxury cars tend to become tomorrow’s standard features.

Is the investment worth the price? Although there’s no set minimum price point that determines the definition of a luxury car, a luxury car can be sold at a higher price compared to other types of cars. Cars are typically depreciating assets and their value diminishes over time. Consider that it’s common to find the cost of maintaining expensive cars to be more costly than the maintenance of cars that aren’t as luxurious. Repairs, parts, labor and like will generally be more expensive. Make sure you budget for higher ongoing costs and the higher cost of purchase. Bankrate tip

Take advantage of an estimate of how much your luxurious car will cost you monthly.

What is the difference between a fully loaded car differs from a luxury brand Luxury car doesn’t have a defined definition. What most people think of as a luxury vehicle is contingent on the model of the car. Manufacturers like Lexus, BMW, Mercedes or Jaguar are considered “luxury” in the majority of minds. And while it’s true that vehicles from these companies come with top-of-the-line options, you’re paying for the cachet that comes with the company’s name. Instead of buying a brand with a luxurious name you can consider purchasing a standard car. Even a vehicle as basic as the Honda Civic has many different trim options. While the basic package has standard features, pricier trims include a variety of higher-end options that are exclusive to luxury cars. Think about what types of things you’re looking for and then make a decision based on that. Luxury vehicles appreciate more quickly than other cars depreciate when you exit the dealership lot. Luxury vehicles, however, appreciate at a higher rate than those in middle-tier competition. Quicker depreciation means that you’re likely to not get back the money you invested on the vehicle when it’s time to sell. Be aware of the factors which can cause quicker depreciation. There are more options on the market. Luxury drivers tend to buy new vehicles every few years. That means the number of cars available sometimes exceeds the number of buyers. Some models are outdated. The people who shell out extra cash to buy a luxury vehicle are likely to desire to have all of the bells and whistles. Therefore, a model that is older will not get the premium cost you initially bought it for as models get older faster. Vehicle maintenance. Trips to the auto body shop tend to cost more for newer or foreign models, adversely affecting the car’s resale value. If you’re looking to have luxury without extreme depreciation, consider shopping for vehicles that are instead of brand new. That way, you can move into the luxury market without having to worry about money lost. Financing a luxury car Depending on the kind of luxury car you buy it is possible to finance it similar ways to financing every other new vehicle. However, if the price of your new car is worth greater than what traditional auto lenders would loan the amount, you might have come up with a new idea. Talk to the dealer. Car dealers with luxury cars may offer you can take advantage of. Think about putting more money down. If you’re having trouble getting a car loan for the total amount of the purchase, you may have to . Find financing. You might be able to finance your luxury car using a personal loan or home equity loan. Look into a luxury car lease. If you are itching for a new car, but aren’t certain to buy it might be worth considering a brand new car. The bottom line A fully loaded car or the luxury vehicle are both viable options and no single answer is the best for every person. Look at the different options available with the vehicles you’re interested in and ask yourself if you’re only paying extra to get the name of the car. That will help you decide what’s best for your situation.


Written by Points and Miles Expert Contributor Dan Miller is a former contributing writer for Bankrate. Dan wrote about loans as well as home equity and managing debts in his writing. The article was edited by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since late 2021. They are passionate about helping readers gain confidence to take control of their finances with clear, well-researched information that breaks down otherwise complex subjects into bite-sized pieces.

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