Why Do People Buy Luxury Cars? Top 5 Reasons

Aug 19, 2020 10:55 AM EDT | Staff Reporter

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Why Do People Buy Luxury Cars? Top 5 Reasons


(Photo : Why Do People Buy Luxury Cars? Top 5 Reasons)

The automotive industry offers more options than we could ever need, although the main purpose of any car is to take us from point A to point B. With so many affordable car models to choose from, have you ever wondered why some people go for luxury cars? You must have, or you wouldn't be reading this article.

Is it just prestige? We all know that not everyone who drives around in a Porsche 911, an Audi R8, or a Lincoln Continental don't really care about what's under the hood. They just want to be seen driving them, and they care most about the fancy manufacturer's mark on the hood. It's about the emotional connection they form with that brand and how it makes them feel. They buy the car because they like what it says about them. We have the stereotypical image of a man buying an expensive car as a way of dealing with a mid-life crisis. It's how we choose to interpret it, but it can be his way of rewarding himself for reaching a personal milestone.

Prestige aside, there are plenty of other reasons why people decide to spend many wads of cash on a luxury car. For example, the performance we mentioned earlier. Luxury cars come with powerful engines, superior safety features, and they don't depreciate as fast as average cars. Let's explore some of these reasons in more detail.

Performance

We'll start with performance. Luxury car manufacturers such as Mercedes, Audi, and Tesla are well-regarded for good reason. These cars are not just stunning to look at; they also perform much better than most cheaper models on the market. The vast majority of mass-market vehicles are designed with the goal of achieving a balance of fuel efficiency and just enough performance to sell without raising the cost of production too much.

When you prioritize affordability, you have to limit your aspirations in terms of top-notch engineering. 

The higher price tag that's expected on a luxury vehicle also allows manufacturers to design a machine that goes above and beyond. You'll notice that even in used models, you'll find a 2010 Mercedes-Benz with a lot more horsepower than a 2010 Toyota, for instance.

Build Quality

Same as with performance, luxury cars tend to have better build quality than their more affordable competitors. The premium prices allow manufacturers to integrate high-end finishes, top quality materials, and innovative features. It's what's expected. If the buyer's looking for the best-in-class vehicle, they want it with all the bells and whistles. A prospective buyer who's looking for a vehicle to get them from A to B won't want to pay extra for these details because they feel like they don't need them, and it's not worth it.

Of course, that's not to say that mass-market models aren't well-made, but they're designed with a high priority on affordability. Luxury cars go beyond the basics. Actually, you can think of leather seats and heated steering wheels as the basics in this category.

Safety

Luxury car brands have gained enough credibility from consumers that they can afford to splurge on innovations, and while they can get you from point A to B like any other car, you can be sure they can do it safely. They may spend a lot of time making your beloved BMWs or Jaguars look sleek and sporty, but they're also mindful of keeping everyone inside the car safe at all times.

Safety features like electronic stability control, anti-lock brake systems (ABS), and blind-spot warning systems became widespread after first making their way into the market through innovative luxury vehicles. According to the Insurance Institute for Highway Safety, about half of the cars that hold the top spots in terms of safety are luxury cars. These models come with side-front airbags and curtain airbags, traction control, and stability control, to mention but a few. Nowadays, you'll also find models with drowsiness detection systems, traffic sign recognition, and lane-keeping assist. You can rest assured that your lavish purchase will protect you.

Customization

The more you're willing to spend on a car, the more influence you will have over its design. Mass-market models are profitable because they're mass-produced. They only come in a limited variety of colors and feature packages. There's no exclusivity. They're made for the general public. You're pretty much stuck with the standard options the manufacturer offers unless you're willing to pay extra for aftermarket customization. High-end cars are not made for the general public, so they're produced in smaller numbers. This means that you, as the buyer, become more valuable to the manufacturer, and they'll give you more options when it comes to tailoring your car to your preferences. 

Rolls-Royce lets buyers decide almost every aspect of their car, while BMW will let you pick special paint hues and other personalization touches. If you're curious about what unique features you can find in a luxury car, you can look up Lincoln dealer near Dallas and go through the listings. This will also give you a better idea of what performance and safety features you can expect from a luxury vehicle. 

Price

You'd expect price to be more suitable for a pros and cons list of buying a luxury car, but as you know, some people buy them precisely because they're expensive. They want to show that they are successful enough to afford such a car. Others don't have anything to prove. They just look at the hefty price tag, compare it to what the car has to offer in terms of performance, build quality and features, and think that this is what you pay for beauty... and horsepower, speed, leather interiors, and premium sound systems, etc.

But that's not why we're writing a section about price. We actually want to discuss the resale value. As we mentioned in the introduction, luxury cars tend to depreciate slower than mass-market models. Of course, this depends on the make and model. It's especially valid if you buy a very exclusive model. Then you can sell it to collectors. Still, you can be sure that a luxury car won't depreciate like your average Honda or Kia. Some car enthusiasts that are particularly knowledgeable in this range will look for bargains and resell them at a profit.

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