More and more, we’ve seen the rise of a new trend in automotive culture: the wealthy and famous driving expensive cars. But is it worth it?
Gone are the days where individuals get their license permit and buy their first normal car for regular use but these days everyone wants to buy expensive sports type cars right after they complete their education.
Everyone has a different opinion on the topic of expensive cars. Some people will say that expensive car are worth the money because of the prestige and status they offer, but others might disagree and easy that you should save up for a cheaper car if you’re on a budget.
To figure out which is right, we first need to get some background information on why someone would want to buy an expensive car.
If you plan to buy a luxury car but do not have enough budget, getting a used luxury car is a good option. Every luxury vehicle on the road has a history you can learn about. A car history report will disclose any past problems with the car and help you decide if you want to purchase it.
You can avoid many scams by getting history information on your potential new ride. A vehicle history report is a search for accidents, ownership changes, and other information. If you discover any severe problems, then you should not buy that particular vehicle.
What is An Expensive Car?
To begin, let’s define what we mean by “expensive.” How about a car that costs six figures? Or ten figures? What if you want to get a car that costs more than $100,000. Is that expensive?
I’ve never been a fan of spending that much on a car, but I’ve heard of people who have. They say that their car is worth it, and they wouldn’t take it back even if they could. That’s a pretty extreme view, so maybe we should dial it down to something more reasonable.
Why do People buy expensive cars?
There are many reasons why people buy expensive cars: status, respect, recognition, a sense of accomplishment, bragging rights, artificial intelligence, the beauty of the car itself. The list of reasons goes on and on. The point is that the reasons behind why people buy high-end cars are as varied as people themselves.
But there are always a few reasons that apply to everyone: good fuel efficiency, comfort, safety, power, latest technology, etc. Expensive cars offer all of these things in one package. And let’s not forget the looks of an expensive luxury car.
Are expensive cars a waste of money?
A car is an investment. You should always be looking at the long-term returns, but that doesn’t mean you should expect to pay for luxury vehicles with cash out of your pocket. If you have a steady income and can buy a used car without taking on any unnecessary debt, then go for it!
It depends on the person. The simple answer is that some people benefit from having an expensive car, while others would benefit from having a cheaper car.
If you’re going to buy an expensive car, you should make sure it’s worth your money. Compare the cost of car insurance, fuel costs, repairs, or maintenance costs over time and decide if your vehicle is worth the price you are paying for it. If you bought a car that isn’t worth as much as you thought or it breaks down frequently.
Final Thoughts:
If you don’t mind paying the extra money for something, then go for it. Otherwise, buy something cheaper that will last you just as long. If your dream is to drive a Ferrari, by all means, go for it.
On the other hand, if you’re not comfortable paying cash, consider buying a cheaper car and putting the rest into savings. Most importantly, don’t pay more than you have to.
There is no definite answer, but it depends on the situation. If you can afford to pay for it outright and are willing to accept the risk associated with it, then, by all means, give it a shot.
