Credit: https://unsplash.com/photos/red-lamborghini-gallardo-uwrTwMaxVR4
Prestige cars are known for the luxury interior, high-class engines and powerful performance. However, the price tag is enough to put people off. There will always be mixed opinions when it comes to luxury cars, however, the decision is always yours! We’ve put together the perfect guide to prestige cars, including the advantages and disadvantages of owning one- to answer the question ‘are prestige cars worth it?’
Prestige cars are known for the luxury interior, high-class engines and powerful performance. However, the price tag is enough to put people off. There will always be mixed opinions when it comes to luxury cars, however, the decision is always yours! We’ve put together the perfect guide to prestige cars, including the advantages and disadvantages of owning one- to answer the question ‘are prestige cars worth it?’
The Price Of A Luxury Car
The price will often depend on the brand or manufacturer of each luxury car. If you're looking for a Lamborghini, these start from around £155,400, such as the base model Huracan. If supercars are not your thing, Rolls Royce offers one of the most comfortable driving experiences available on the market, starting from £250,000 for a new Cullinan.
We’ve compared two cars, one from a ‘luxury’ brand and one from a ‘premium’ brand, with a RRP difference of close to £100,000 when fully spec’d. When you're buying a luxury car, you are usually paying more for the brand name. We’ve compared the Bentley Continental GT to the BMW 4 Series Coupe, two cars from very different manufacturers but very similar features & spec and a massive price difference. Not all cars need to be bank breaking for you to get and drive the best!
Bentley Continental GT- New from £176,200
2022 Bentley Continental GT V8 Coupe
Credit: https://unsplash.com/photos/blue-coupe-on-road-cAbH8B-14Vo
About the car: This 2 door, 4 seater Bentley Continental GT has 4.0L, 8 Cylinder Twin-Turbo Petrol engine, with 542 horsepower. The GT has a combined MPG of 19 with an All Wheel Drive drivetrain. The Twin-Turbo engine can go from 0-60mph in 3.9 seconds and has a top speed of 198mph. Looking at the interior, the infotainment system has Apple CarPlay and has Wi-Fi Hotspot. The driver aids include head-up display, adaptive cruise control and Lane Assist.
Extra costs: Road tax on a Bentley Continental GT for a year is £520. The GT has a 90L fuel tank. Between 7th March and the 13th June 2022, average fuel prices in London hit £1.83. If you were driving on average 6,000 miles per year, in fuel costs this would cost you:
Weekly: £46.14
Monthly: £199.94
Annually: £2399.24
BMW 4 Series Coupe - New from £50,000
Credit: https://www.press.bmwgroup.com/global/article/detail/T0308584EN/the-all-new-bmw-4-series-coup%C3%A9?language=en
About the car: This 2 door, 4 seater BMW 4 series is a motorist's choice for a comfortable motorway cruiser, while also being stylish and sporty. The top end of the standard spec comes with 430i petrol or 430d diesel, with xDrive coming as standard. This offers the vehicle with punchy power coming from the 3.0 engine, while also maintaining good fuel economy, especially in the diesel variant. The interior is plush with soft leather and premium materials, however not as upmarket as the Bentley for example. From BMW’s website, they claim “BMW 4 Series Coupé impresses with its unique aesthetics, sporting dynamics and high-quality interior. The combination of unique design and impressive agility develops an extraordinarily high attraction.”
Buying New Vs Used Prestige Cars
Buying both new or used prestige cars have their advantages and disadvantages. Buying new leaves you with a car in perfect condition, but it would have higher depreciation. Buying used would save you money, but it may not come with warranty. Ultimately, it depends on your budget and how long you would like to keep the car.
These are a few advantages and disadvantages of buying both new or used to keep in mind:
New
Pros
- Prestige condition
- Newer technology
- Bigger selection
- Longer warranty
Cons
- Prestige condition
- Newer technology
- Bigger selection
- Longer warranty
Used
Pros
- Lower cost
- Lower depreciation
- Certified Pre-Owned Programs
Cons
- Maintenance costs
- Older technology
- Decreased fuel efficiency
Why A Luxury Car?
One of the main questions about luxury cars is why? What's the point? Despite the costs, prestige cars are a great option for people who want a luxury feel. The interior, the technology and the over driving feel is unmatched compared to a ‘regular’ car. Safety features on prestiges cars are also known to be fantastic. If you have the cash to spend on a nice car, why not? For some people, owning a luxury car gives a sense of achievement and enjoyment, as a considerable amount of time will be spent behind the wheel commuting.
There are also a range of finance options available for luxury cars. Suiting a lot of budgets, luxury finance brokers, such as Forza Finance, compare deals to find you the best deal. Personal Contract Purchase, Lease Purchase and Hire Purchase are available for luxury cars from a wide range of finance brokers.
For more tips and advice on selling your luxury car, check out our blog or not give us a follow on Instagram and Facebook.
