BMW is one of the world’s most renowned automobile brands and is famous for both luxury and performance cars. Buying a BMW Luxury Car is a lifelong dream for many of us. No matter whether you are going to invest your hard-earned money in pursuing your dream of a brand-new BMW or buy a used one, here are the top 5 things you need to know before buying a BMW luxury car. Let’s jump right in!
Fuel Cost
The very first thing that you need to consider beyond your emotional attachment to BMW cars is the fuel cost. Yes, you might not have heard of it, but the truth is BMW cars are not really fuel-efficient cars. They require premium fuel which is a bit more expensive than the regular gas people usually use in their vehicles.
Servicing / Repairing Cost
The second most important thing on the list is the service or repair cost which can also be very expensive. Yes, you read it right! Unlike regular cars, luxury cars like BMW and several others out there require specialization when it comes to servicing or repairing European luxury cars like the BMW. And, unfortunately, these specialized car repair shops charge a lot more than your average auto mechanic.
This makes it both more expensive for you and also very inconvenient if there are no European import service repair shops in your local area which specialize in BMWs or other German cars. So, always make sure to inspect thoroughly a used BMW before purchasing from a private party, with the help of an auto mechanic. Or if you want to avoid the risk and hassle all together, you may consider purchasing a late model pre-owned or new BMW from a local and reputable BMW Luxury Car Dealership instead.
Availability and Price of Spare Parts
It’s another crucial thing that you need to keep in mind before you break the bank on any luxury car model. You will be surprised to find out that most of the high-end car manufacturers follow a golden rule and make their real profits selling spare parts. The same rule also applies in the case of a leading German automaker company like BMW. On top of the high cost of these parts, the unavailability of the spare parts themselves can also be a frustrating matter.
Insurance Cost
Insurance cost is yet another important issue that you should never overlook, especially when this is about luxury car insurance. Yes, along with expensive fuel and maintenance, the insurance policies for expensive cars cost a premium compared to regular car insurance rates. And, the most annoying part about all of this is that you must bear the expense while your car depreciates in value every year.
Resale Value
You are probably familiar with the saying- “The higher they stand, the harder they fall.” And, it’s an absolute truth regarding European luxury cars. Yes, luxury cars depreciate comparatively faster and lose their market value to almost half their original price with the release of new models. So, if you are going to buy an expensive brand-new BMW, keep this large initial drop in-value in mind before your purchase.
