If you are in a predicament, wondering whether it is more beneficial to buy or rent that luxury car in mind then we hope this article helps, aiming to display the pros and cons of each option. With luxury cars infamously making us weak at the knees it is important that you make car-related decisions with your head, not your heart; weighing up your options and arriving at a decision that serves you well.
When discussing ‘luxury cars’ it is important to not that we are referring to the Rolls Royce Phantoms and Bentley GTs of the world, vehicles that sport a certain opulence you would not find in a Ford Fiesta.
Initial outlay
If you are considering buying a car outright, opting for finance, a loan or a PCP scheme you will need to boast an incredible sum to put down; even if you just want to reserve the vehicle. Most vehicle sales companies require at least 10% of the cost upfront. Therefore, if you were opting for a new £100,000 Rolls Royce you would need a spare £10 lying about.
Monthly outgoings
Monthly outgoings of such high-end cars include:
- Expensive car insurance
- A substantial amount of diesel/petrol
- Mechanical issues
- Vehicle tax
- And much more!
Upkeep
The truth is that the more expensive the car, the more expensive the parts and the mechanics to mend it. Therefore if a mechanical issue were to come up out of the blue you could be in for a real financial shock.
Daniel Ford of UK luxury car brokerage Limo Broker says:
‘It makes no sense for individuals to buy these high end cars anymore. With the majority of owners only using them once in a blue moon it makes a lot more financial sense to simply hire a Rolls Royce or a Bentley for those special occasions ‘.
‘The benefits of hiring are endless’ Mr Ford continues.
‘As well as seeing you swerve the overheads that such cars encourage you will also be supplied with your very own chauffeur, permitting you to enjoy a glass of champagne or two’.
Make an enquiry
If you would like to learn more about hiring a luxury car for the day, weekend or on a regular basis then simply visit Limobroker.co.uk today and speak to one of the country’s professionals.
