Mistakes to Avoid When Buying a Luxury Car
1. Inadequate Research into Luxury Cars
Owning a trendy luxury car is a symbol of social status in Dubai. A long-term financial investment of this nature must be researched as thoroughly as buying a house. Buying a luxury car going by looks alone causes irrecoverable losses in the future. Do your homework!
Lookup the most popular exotic cars for sale in your city. Go online and research the key points, such as price, features, warranty, and safety. Ask your friends and co-workers for their opinions. Weigh all these views without bias before you take the plunge.
2. Not Visiting Multiple Luxury Car Dealerships
You will see many swanky billboards advertising super cars for sale. Avoid the common mistake of restricting yourself to just one showroom. This not only leaves you with limited choices, but it also narrows your perspective. Each luxury car dealership in Dubai has something unique to offer a customer.
It pays to visit multiple dealerships before deciding. You could be missing out on special offers, extended warranties, and much more. Never hurry your purchase. Take as much time as you need and visit as many showrooms as possible.
3. Skipping the Test Drive
This is perhaps the most common mistake made by people in Dubai while purchasing a luxury car. Always spend adequate time test driving the car before you buy. It does not matter how experienced a driver you are, or if you have driven the same model in the past. Each car is unique and has its own personality.
Ask the car salesman for a quick tour of the car before taking it for a spin. Driving the car in person brings forth many factors to the surface. This includes comfort, leg space, electronic controls, and maneuverability.
There are several ways to fund your luxury car purchase in Dubai. Many luxury auto sales showrooms offer financing options. Do not make the mistake of going with the finance scheme offered by the dealer without research. There are many alternate ways to fund your purchase.
The best option is to talk to your bank first. Banks often offer better interest rates on automobile loans. They are also a lot more flexible with repayments considering you are already a customer. Even a small difference in the rates could save you lots of money over the repayment tenure.
5. Not Examining Lease Options
Sometimes it is easier on the pocket to lease a luxury car in Dubai, than to buy one. Many companies and individuals choose this option over an outright purchase. This is a great option that costs less and saves you overheads such as repairs and insurance costs. When you lease from a luxury auto sales outlet, you can change the car if unhappy.
This option works best for individuals who are staying in Dubai for a short period or relocate frequently. Compare the rates of lease and outright purchase before a final decision.
6. Not Considering Resale Value
The resale value of a car in the market is a good indicator of its quality. There are several factors that determine a luxury cars resale value in Dubai. This includes:
- Brand
- Color
- Maintenance costs
- Parts availability
Many luxury brands are notorious for high maintenance costs. Research on which luxury cars offer the best resale value in the used car market. Buy a luxury car which offers great value when you decide to upgrade or sell due to factors such as relocation. Allied Motors offers the best prices for resale cars.
7. Overpaying for Accessories
It is tempting to spend on car accessories while making a luxury car purchase. A common mistake people make is thinking that they won't have time for upgrading later. Accessories bundled with a luxury car are expensive. Choose only those that add value to your ride. Accessories such as lighting and body detailing drives up costs.
Upgrade accessories from an outlet who are offering discounts. Allied motors is one of the luxury car sales outlets that offer periodic discounts on quality accessories. Re-think their immediate necessity before you decide on spending.
8. Skipping Technical Evaluation
Do not skip a thorough technical evaluation. Exotic car purchases require due diligence on the buyer's part. It is prudent to have it inspected by a trusted mechanic, even though it's new. There may be many parts or systems under the hood that may be faulty.
Automobiles sometimes suffer minor damage during transportation. Often people don't realize these issues until it is too late. It is alright to pay for an inspection and be on the safer side than to regret buying an expensive and defective car later.
9. Ignoring Warranty and Maintenance Terms
Warranties for luxury cars can be tricky. There is a lot of fine print that needs scrutiny to prevent unexpected future expenses. Take your time to read through the warranty terms and conditions. It is a good idea to look up this information online before heading to the dealership.
Some important details to check include:
- Number of free services
- Warranty terms of engine and control units
- Type of defects covered
Many companies offer extended warranties and service contracts. Avoid purchasing these unless you're sure that they offer more benefits than a standard warranty.
10. Buying New vs Used Luxury Cars
Luxury cars for sale include both new and used models. There are pros and cons with both these options. Cost is a significant factor to consider when faced with this decision. Ask yourself if you plan to use the car for a long term for personal use. If yes, it's probably wiser to buy a new car.
Choose a used car if you are on a tight budget or plan to use the car in limited capacity. Used cars are great when thoroughly inspected for damages and worn parts.
Don't settle for a luxury car if it does not meet your space requirements. If you have a family in Dubai who travels often, it's better to choose a car with plenty of seating and luggage space. Evaluate the car based on the number of passengers who will typically travel.
Many sports cars on sale are low on passenger and luggage space. SUV's are better if you value space and extra legroom while sedans or sports models are great for solo drivers. Allied motors has the perfect car for you for every type of space requirement.
12. Spare parts cost and availability
Spare parts of luxury cars can quickly shoot up your annual maintenance costs. Cosmetic spares such as mirrors and plastics can be more expensive in some luxury cars compared to others. Read online reviews for luxury cars in Dubai. This is a great place to research parts availability and pricing.
Avoid imported models as parts are expensive and hard to get. Ask the luxury car showroom for a price list and general availability. Choose a car which requires less maintenance and prices its spares reasonably.
Terms and conditions of a luxury cars insurance cover are often overlooked. You may end up coughing up lots of money with poor coverage. Luxury car sale outlets in Dubai have ties with many insurance companies. Always ask for the details of the things covered and the no claim bonus amount per year.
Lookup the list of network garages covered for cash-less repairs. Choose an insurance firm that offers maximum coverage in and around Dubai. It is important that the insurance premiums are within your budget and cover all essentials.
It's a golden rule to negotiate before buying a luxury car in Dubai. Consider factors like resale value, insurance costs and maintenance while discussing price points. Dealers are often happy to enter reasonable negotiations if they feel confident about you.
Never accept the sellers quote at face value. Drive strong negotiations before deciding. Try and get the dealer to lower the base price instead of offering freebies in exchange. It's important that you don't overshare about your budget. Try and get more details before disclosing your real budget. Always evaluate if the price you're paying justifies your needs.
15. Taking Advantage of Discounts and Seasonal Sales
Don't walk out of the first luxury car showroom with your new ride. People regret seeing the same model with extra goodies and features elsewhere after closing a deal. It pays to enquire in more than one showroom in Dubai. Dubai has a competitive market, and you can often get better deals when you look around more.
Try and move your purchase window during the holiday season. This is a time when you can take advantage of offers. Lookup local dealership ad listings to locate great offers. Good deals could range from price reduction to free extended warranties or accessories.
16. Buying Expensive Add-ons
Add-ons for luxury cars are bound to raise the price. Luxury auto sales centers offer a variety of them. This could include paint protection, car alarm upgrades, and others. While these upgrades can add to the look of the car, its not necessary to buy them along with the car.
Avoid spending on cosmetic add-ons such as fake vents and fancy paint work. These do not affect the car resale value and increases your investment. Remember that these do not improve the performance of the car in any way. Think twice before you spend on frivolous add-ons.
17. Skipping Paperwork and Previous Owner Checks
Always find out the details of the previous owner when buying a used luxury car in Dubai. Ensure that the ownership is legitimate before moving forward. Buy used luxury cars only from trusted dealers such as Allied Motors.
Make a checklist of documents that must be provided by the dealer. This includes registration transfer, inspection certificate, and others. Some documents may take a few days, such as registration transfers. Ensure that you follow-up with the dealer for the same.
18. Not Obtaining a Full History Report
Always review the history of the luxury car in case you are opting for a used model. Ask the luxury car salesman for a full history report. This report contains the details of the ownership as well as all the body work performed on the vehicle.
Buying a car without knowledge of its history can turn to be a grave mistake. It could lead to legal complications as well as buying a car which has long-term damage. Examine the history report to make sure that there are no accidents listed.
19. Skipping Diagnostic Scans of Electronic Components
Luxury cars boast an incredible array of advanced electronics. It's important that they are in good working order. These components are delicate and expensive. Ask your dealer for a complete diagnostic scan before you buy. Be sure to get a detailed report of the diagnostic scans done on your car. Verify if all components have passed the tests.
You can also buy a diagnostic sensor too later to run periodic tests yourself. These tools run a systematic scan of the electronic components to identify issues. Identifying and fixing such issues lower maintenance costs in the long run.
20. Needs vs Wants Analysis
People who buy luxury cars on impulse often regret it in the long run. Bearing the maintenance costs of luxury cars in Dubai can be daunting. Think well about your needs versus your wants when you decide to buy. Is the luxury car an absolute necessity, or can it be put off until your finances are stronger?
It's important to ponder on this question. It helps you determine if you should purchase the car and any expensive accessories that come with it. Contact Allied Motors when you are ready and we will help you choose the best.
Comments
Post a Comment