Buying and owning a luxury car can be very enjoyable. Luxury cars often have more features than typical models, earn more respect on the road and among your neighbors and come with a better dealer experience. But have you thought about the hidden costs of luxury-car ownership?
Since a luxury car is more expensive to buy than a normal car, it will also be more expensive to insure. That makes sense, but many shoppers don’t account for insurance rates when buying a car.
Many shoppers believe luxury is synonymous with reliability, but that isn’t always true. Many high-end cars are filled with complicated gadgets and electronics, which are often expensive to fix.