These are the pros and cons of buying a luxury car

These are the pros and cons of buying a luxury carThese are the pros and cons of buying a luxury carThere no denying the fact that buying a luxury car is one of the pinnacle symbols of success.Regardless of whether youre into sedans or SUVs, everyone knows that the manufacturer mark on the hood of the car and written across the trunk is what really matters.Symbolism aside, luxury cars come stocked to the brim with fancy features and high-speed engines that make them even more appealing to sports car lovers and sleek aesthetic seekers. As each year passes, the bar for cutting edge luxury vehicles is tischset higher and higher- and the prices show.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreThere are plenty of upsides and downsides to the splurge worth exploring before chasing your dream car.Pro World-leading performanceUpscale vehicle manufacturers like Mercedes, Tesla, and Audi are popular for a reason. Not only do these cars look beautiful on the inside and outside, but they perform better than most low-end vehicles on the market.Even with used models, youll find that a 2010 Mercedes-Benz comes with plenty more horsepower than a 2010 Toyota with a similar build.Engine performance and body design are truly the defining factors of a luxury car, and upscale brands deliver above and beyond on the high-tech expectations consumers have for them year after year.Con PriceThe cost of an upscale car can be hard to fork over, especially when tens to hundreds of thousands of dollars are on the line.For example. The gorgeous BMW M850i xDrive Coupe starts at a hefty $111,900. Unless youre completely dripping in money with fruitful income to cover the price tag damage, youll have tomodify your budgetso you can continue living your cushy lifestylewithout going into debt.But thats the price you pay for beauty and speed, horsepower, leather interiors, andconcert-hall quality sound sys tems.Even used luxury cars tend to carry heftier prices than their lower-end counterparts. Its not uncommon to find a 2012 Lexus that costs more than a 2019 Honda.Depending on make and model, some luxury cars depreciate slower while others riddled with past issues depreciate fast.Do some diligent research on your desired vehicle before handing over any lump sums of cash- a big purchase like a luxury car deserves careful consideration and justification.Pro You can buy used luxuryBargain hunters looking to fulfill their dreams of luxury car living can turn their fantasies into a reality with a used luxury car.Whether youre looking for aused Audi for sale in Westmontor a used Tesla in Chicago, the odds of pinning down a dealer with luxury vehicles under five years old for the fraction of the price are in your favor.One of the most significant perks of buying used luxury is that you still get every ounce of high-powered performance you want, the upscale interior you expect, and thefancy hood ornamentyou cant wait to brag about.Buying used luxury does not necessarily mean youll save on maintenance costs, but youwillsave thousands on the cost of the actual car.Con Selling is toughAs mentioned before, luxury cars may not feel the wrath of car depreciation as quickly as your run of the mill Honda or Kia might, but it is a simple matter of fact that all cars depreciate.No matter how many bells and whistles your car has, the newer model will almost always be worth more. Fortunately, there will always be a market full of people after used luxury cars- if youre on the hunt yourself, youre living proofThere are plenty of car dealerships out there who will take your luxury vehicle off you for resale, but the harte nuss of harshly knocked-down resale prices can scarecar owners looking to sellaway.Make sure you know your cars value from the mileage to the condition of the engine for an adequate sale both the seller and buyer can be happy with.Pro SafetyAbove all else, when yo ure searching for a new or used vehicle, you need it do the absolute bare minimum before getting into classier specs. Yes, it can get you from point A to point B, but can it do so safely?With luxury cars, the answer is usually yes. While manufacturers do spend plenty of time engineering your favorite BMWs and Jaguars to be flashy and sporty, they are equally concerned about the safety of the passengers who end up inside of their creations.Upscale cars tend to be equipped with a full set of airbags, traction control, and reliable ABS. You can rest assured that your pricy purchase will protect you against the odds.Just like any other car purchase, there is plenty to consider when buying a luxury car. Always be sure to do your research and go for a few test drives before handing over the many wads of cash youll need for a proper upscale payoutThis article originally appeared on Melissa Blevins.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people