Do you know what kind of car you would buy if money wasn’t an issue? You’ll need pretty deep pockets to get your hands on any luxury vehicle in Australia. But one can dream, right? An expensive, luxury car can offer speed and comfort but most of all it represents a lavish lifestyle to most people.
You’ve probably landed on this page because you have a taste in expensive cars. And we get that! That’s why this blog will be devoted to explaining what lures people to buy expensive cars. We’ll also cover the best luxury cars on the Australian market and how much they cost. Interested? Let’s get started.
Why do people buy luxury cars?
Attention
Those who own a luxury car know exactly what we’re talking about. The feeling of having everyone eyeball you in envy is a special feeling, to say the least. There’s a large percentage of people who are not impressed by luxury or expensive cars. Although this may be true, when a Porsche or a Ferrari speeds past anyone, their attention is immediately drawn to that car.
Reputation
Owning an expensive, luxury car is, for some, also a symbol of wealth and success. The high-end features of expensive cars go beyond the average necessities. luxury vehicles are equipped with better interiors, performance capabilities and all of the latest technology and safety features.
Expensive car brands have a higher perceived value than lower-end cars. Consumers are willing to pay more for a car when they feel the price reflects the value they are getting in return. For some, the value of the car lies in the design, the limited production volume, superior quality parts, and the fact that they’re made from more expensive materials.
Adrenaline rush
Car enthusiasts are typically drawn to expensive cars because they offer a unique experience and top-level performance. These car enthusiasts are not looking for a car to get from point A to point B, but rather how the car contributes to the way they enjoy their free time. Additionally, some people look for high-end car brands as a way to boost their self-esteem. Furthermore, the status symbol some people feel they get when purchasing an expensive car may increase confidence. For many people, there is a lot of emotion connected to the purchase of not only expensive cars but also other high-end, luxury items.
Some fun facts about luxury cars
Did you know that the engine in a Ferrari car is upgraded to bring ‘music’ to the ears of owners by synchronizing the sounds from the air pipe to create a flute or organ-like hum? We certainly didn’t! But that’s nothing compared to this next one.
If you buy a BMW in South Africa, drivers are given the option to add flamethrowers under the doors as a defence to carjackings. Unfortunately, because of the high costs, only a few hundred people ended up purchasing the additional feature.
Expensive car brands – an investment or just a costly hobby?
Is buying a luxury car or fancy additional features worth it? It really depends on the buyer. If you want to splurge on a car, who can tell you to do otherwise? However below we have listed a number of additional features that are worth the extra expense:
- Knee airbags;
- Curtain airbags for rear passengers;
- Brake assist and seat belt tensioning;
- Adaptive cruise control as well as;
- Collision warning;
- Automatic braking.
Of course, adding all of these safety features would be extremely and most likely a bit unnecessary.
Things to keep in mind
The value of a car depreciates with time and mileage, however, the resale value of expensive car brands depreciates at a slower pace than average cars. Nevertheless, people are happy to invest in expensive cars because they are convinced that it will give them value in the form of status and accomplishment. Also, consumers have a lot of trust in expensive car brands like, for example, BMW and Audi. This trust creates significant added value to these expensive car brands.
Looking for expensive car brands?
If you’re dreaming of prestige, elegance, comfort and speed all rolled into one, there are a number of available options of luxury cars in Australia. Here are the top five most expensive cars in Australia:
- Bentley Continental Supersports: $626,474
- Ferrari 812 Superfast: $610,000
- Rolls-Royce Ghost: $595,000
- Ferrari GTC4Lusso: $578,000
- Bentley Mulsanne Speed: $569,522
Despite increasing economic pressures in Australia, the luxury car market is outperforming the moderately priced car market. Sales of new cars have fallen approximately 10% in 2020. However, there is a different pattern among expensive cars. Ultra-luxury brands have done well and are increasing sales. Maserati went up 21%, Ferrari up 21% and Rolls-Royce up 150%!
Apply for a car loan
There is only a small percentage of people in Australia who can afford to purchase luxury car brands outright. However, with the help of a car loan, you could be driving away in your dream car in no time!
However, finding the right lender can be a struggle and car loans can be confusing to wrap your head around. This is where a lender-finder service like Pocket Cash comes in. When you apply with Pocket Cash, we’ll show your application to a range of lenders to give you the best chance of approval.
All you have to do is scroll up to the top of this page to apply now! If you have questions about what we do, visit our FAQ page for more info. Alternatively, you can get in touch with the Pocket Cash team directly.
If you’re looking for a car loan to finance either a new or used car, you can look to Pocket Cash! Want to learn more about car loans or car loan interest rates? We have the low down. Read more today!
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