Whether you collect them or have always dreamed of parking one in your driveway, luxury cars can really elevate the everyday. After all, what could beat cruising around town on a warm day in a car that turns heads around every corner? Luxury cars are, of course, a thrill to ride in. However, not all luxury vehicles are created the same. In fact, some of them can actually be major money pits if you pick the wrong one. As such, it’s a good idea to do some research about the vehicle you purchase before you make a decision.
One of the areas you’ll definitely want to pay attention to you as you weigh the pros and cons of different luxury vehicles is how to improve your finances. A luxury car is an expensive purchase, but it’s also something that can be expensive to maintain. Some luxury vehicles, for example, can only be serviced at certain mechanics or at the dealership they were purchased from. Still, others need specialized parts which can be costly to track down and install. While none of this is meant to scare you away from buying a luxury car, it does underscore the importance of finding a luxury car that’s actually worth spending your money on. The following five luxury cars are well worth the money—and won’t leave you high and dry when it comes to the cost of upkeep.
2018 Tesla Model S
If you love the idea of driving in a status symbol, the Tesla is a great choice. Especially if you love the idea of sitting behind the wheel of a technologically impressive vehicle, the Tesla Model S just screams next generation. That being said, Teslas are incredibly hot vehicles and can be costly, even if you already have a large budget for cars in the first place. Buying a 2018 model from another seller, however, allows you to save on the overall purchase without sacrificing quality. In fact, Edmunds.com sells used 2018 Tesla Model S listings from as low as $45,000—although the average price is closer to $50,000. That sort of pricing can help you keep your personal finances in mind as you still get to purchase a very popular vehicle at a discount. This sort of pricing helps you achieve your overall financial goals without sacrificing on quality when it comes to the luxury car you drive.
2018 Mercedes-Benz GT
Another vehicle that’s highly popular with luxury car drivers is the 2018 Mercedes-Benz GT. U.S. News and World Report gave this vehicle an 8.9/10 rating, with websites like Cars.com and CarFax giving it a 4.9/5 and a 5/5 respectively. As a headline in Car and Driver pointed out, “It’s what to drive if you think a Porsche 911 GTS is too common.” Indeed, exclusivity is a key selling point of the 2018 GT, however, thanks to it being a few years old you won’t wind up overpaying for the vehicle should you find yourself shopping around. While purchasing the vehicle used will set you back anywhere between $90,000 and $100,00, nobody will be able to say you aren’t riding in style. To be honest, the sheer fact that the 2018 Mercedes-Benz GT is still selling for close to six figures after two years of road use also bodes well for the car’s long-term value.
2016 Lexus GS Hybrid
If you care a lot about fuel economy and comfort, you can’t go wrong with the 2016 Lexus GS Hybrid. Lexus has long been synonymous with luxury, and 2016’s GS Hybrid illustrates why the manufacturer has made a name for itself beautifully. Its interior, especially, is filled to the brim with materials and features that add to the enjoyment you’ll feel riding along in the driver’s seat or the passenger seat. Another benefit of the 2016 model of the Lexus GS is the fact that you won’t sacrifice next-generation safety features and amenities like touch-screen controls even as you save money on the overall cost of the car. A used 2016 Lexus GS Hybrid will set you back anywhere between $26,000 and about $35,000, ultimately meaning you’ll be paying the same price you would for a newer Toyota Camry for a hybrid luxury vehicle.
2016 BMW X1
BMW is another vehicle make that’s become recognized as a leader in the luxury vehicle space. While BMWs are thought of as expensive, a used 2016 X1 will actually only run you about $25,000. When it was initially released, the X1 was recognized as the top of its class, making it a great option for drivers who want the form factor and muscularity of an SUV without sacrificing luxury. With great cargo space, an engine with thrilling horsepower, and great handling, you’ll be glad you’re in the driver’s seat riding in the X1. Plus, it’s likely to retain its value well, as it’s only depreciated a fair amount from its 2016 MSRP of $34,800.
2017 Alfa Romeo Giulia
If you’ve got a penchant for foreign cars, it’s hard to go wrong with the 2017 Alfa Romeo Giulia. Another “used” luxury car that you can snatch up for around $25,000, the Alfa Romeo Giulia offers considerable savings over its initial MSRP of $38,000 to $72,000 depending on the included packages. Fans of impressive acceleration and handling will find plenty to appreciate from this car, and it’s hard to argue that it doesn’t look as sharp as any of the other options on this list. For drivers who also care about safety features, the 2017 Alfa Romeo Giulia gets great marks as well, scoring a 10/10 in the area of safety from the U.S. News and World Report.
Of course, if you’re looking to really save on the cost of your luxury vehicle, it makes sense to search high and low for the best deal. While it’s true that buying a vehicle that’s lightly used can help you reduce the overall cost of your purchase compared to buying a new car, one of the best ways to save on the cost of your car is to look into auto auctions. Car auctions give you a way to search a broader inventory, sourcing vehicles from a variety of locations in order to help you get the best deal possible. Many car auctions even occur online, allowing you to save extra money as a buyer, meaning that you’ll be able to keep more of your paycheck even as you get the luxury car of your dreams.
Another great way to keep more of your paycheck, and ultimately keep your luxury car in top-notch shape, is to get the right car insurance policy. A lower premium on your car insurance can help you pocket more of your money while giving you the peace of mind that you have the collision coverage and other car insurance coverage you need to keep your purchase safe. If you’ve got a good driving record, a great way to save even more money is to compare your existing car insurance company against other car insurance companies in order to ensure that you aren’t paying too much for your current insurance coverage. If you pay less money and take control of your finances, you’ll be better-equipped to maintain your luxury vehicle for the long-run.