WHAT ARE YOUR OPTIONS TO OWNING A LUXURY CAR?

by | Oct 6, 2022 | Motor, Cars

Most car enthusiasts one day dream of owning a luxury car. And if they can’t afford to on their own, the next best solution seems tempting. Of course, enjoying a luxury car will seem outlandish to most of the UK population these days. The cost of living crisis has ensured countless households will downsize their cars, hopes of driving anything flashy and extravagant firmly fading.

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Still, it’s important to be hopeful. You can try to own a luxury car or dip in and out of that world at your leisure, as there are many options for how to proceed. Luxuries might not seem a priority these days, but you should always try and enjoy the fruits of your labour when you can afford to do so. You might be able to do so when it comes to cars.

 

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Add style to your current car

All cars are impressive feats of engineering. Much about the luxury side of automobiles comes down to aesthetics, too. Some of these stylish changes can be applied to your current vehicle.

For example, private plates can stylishly personalise your car and add a degree of sophistication and elegance to your ownership. Regtransfers can help you buy your own, providing guides and resources to ensure you secure the plate you want. They’re also the UK’s largest independent supplier of private plates, with the widest selection available on the market.

Other customisation options include tinted windows, refurbished interiors, and the installation of new integrated technologies such as rearview mirrors or seat and wheel covers. There are many options to choose from, and you can have almost endless fun experimenting as you mix and match different modifications.

The best thing about these arrangements is that you can chip away at them over time. It’s a great way of spreading costs to make your desire to drive a more luxurious car more affordable. From private plates to everything else, it’s all very doable.

Owning a luxury car: Enjoy a track day

People have made commercial ventures out of supercar driving experiences. These entities also have tracks specially designed to create an even more thrilling driving experience.

If you’re lamenting the fact that you can’t yet afford your own supercar, you can always drive somebody else’s. These experiences should fit your budget quite easily and give you some raw insight into what you feel you’re missing out on again. If you enjoy the experience of zooming around these tracks in your favourite supercar, you can always return one day in the future too.

With these services, you can choose how many cars you wish to drive, and for how many miles. Whether it’s a fleeting moment or a grand and diverse day out, there’s a lot to enjoy here.

Bringing others with you may add to the experience as well. If you know any other supercar enthusiasts, the chance to bond and discuss these vehicles as you handle them could be an experience unlike any other. Ultimately, if you’re very keen on driving a luxury car, this is a great way to scratch that itch.

Owning A Luxury Car

Lease a high-end vehicle

Surface-level tweaks can help. However, much about the luxury car experience comes with the handling and feel of driving it yourself.

Road users are endeavouring to lease vehicles for many different reasons, including the cost of living crisis, the opportunity to enjoy a new car every few years, and the global chip shortage. While not all of these reasons are rosy, people do have fun leasing vehicles and can enjoy a car that might not otherwise fit with their budget.

Some people considering leasing hesitate because they might think the vehicle will never truly be theirs. These concerns are not always well-founded. The leased vehicle will sit on your drive or in your garage like any other, and once you’ve cruised around it enough during your routine, you’ll soon get settled.

Another advantage is that, as mentioned above, some people who lease can enjoy a new car every few years. Therefore, you may be able to feasibly enjoy a different luxury car every so often, enjoying the nuances, style, and sophistication of each. A lease arrangement isn’t for everyone, so do weigh your options carefully, but they can open the door to unique driving experiences in their own way.

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Owning a luxury car: Pre-qualify for car finance

Car finance is a standard way to give you extra affordability while searching for your perfect vehicle. However, pre-qualifying for this support can give you more leverage when looking for a luxury car.

Pre-qualifying means you can secure an auto loan on better terms. However, you should try to reduce the amount of interest you’d pay by making the term no more than four years. That way, these efforts are much more sustainable.

Nevertheless, you can still spread the costs of the purchase out and potentially afford a more impressive vehicle than you thought possible. Moreover, pre-qualifying for car finance can help you get your bearings in the market more steadily, giving you peace of mind. Once you have that calm composure, you’re far more likely to make smarter decisions when navigating your options.

Of course, pre-qualifying for car finance isn’t the waving of a magic wand. If a luxury car is way beyond your budget, these types of arrangements likely won’t help. Still, if you’re in a more fortunate position to make ends meet, the extra bump in your finances may help you afford the luxury vehicle of your dreams.

Buy second-hand

Buying any luxury car might seem like a pipedream, especially during bleaker times. However, there are ways to make these purchases more feasible.

After all, research shows that premier car brands depreciate the fastest on the market. If you search long and hard enough and practise patience in your waiting game, there’s a fair chance you can find a second-hand luxury car that doesn’t cost an arm and a leg to purchase. The bargain price tags can be almost unbelievable here, especially if a desperate owner places them.

Audi and BMW are amongst the brands depreciating fastest in the UK today. Jaguars can also undergo a big second-hand price cut, owners selling them at £36,000 ($40,000 USD) and value dropping to just £12,000 ($13,000 USD) four years later. It may be a good idea to train your sites on these types of brands where you can be sure a deal can be struck.

Of course, although patience is important here, you must act fast if a good deal materializes. This knowledge is quite commonplace, and others will have the same idea as you. Make sure you’re well-versed in all your checks, test-driving schedules, and everything else that comes with buying a car. Otherwise, it’s quite likely someone else will beat you to the punch!

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Owning a luxury car: Conclusion

Often, when you can’t afford something, it can seem like you’re barred from it forever. It’s important to realize that’s not necessarily the case for luxury cars. There are many entry points where you can access different facets of this world, whether you’re making changes to your current car, test driving supercars, or saving up to buy your dream make and model yourself. If you’re as optimistic and proactive as possible, you’ll enjoy elements of the luxury car world soon enough.

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