5 Hidden Costs of a Luxury Car

by Jul 16, 2021Car buying0 comments

5 Hidden Costs of a Luxury Car

Maybe you’ve been driving economy cars for years, and now you will treat yourself to your first luxury vehicle. And wonder what could be the Hidden Costs of having a Luxury Car?

The prices related to buying an expensive Luxury car won’t just stop after you purchase it. There are all kinds of hidden and continuous costs related to high-end vehicles that car owner should take into consideration.

Whether a car, coupe or crossover, whether new or pre-owned. Those who new to luxury car should consider some points before making their decision. Make sure that they can afford that new BMW, Mercedes, or Volvo. Because the costs to stay it ticking and during a state of reserve resale value.

Here are a number of the most common costs related to luxury cars. 

Hidden Costs of a Luxury Car: Tires

Car tires are just like erasers; they wear out a bit whenever you use them. Are luxury car tires more expensive than economy car tires? Maybe so. Note that economy cars usually use small wheels and could only require cheap tires. Luxury vehicles use much larger wheels so as to adequately provide some approximation of excellent mileage, and support the load of a well-built frame. Many of the luxury model wears a group of great-big wheels that provides it better handling or perhaps just enhanced visual presence on the road. Those big wheels come wrapped in big and potentially pricey tires.
It’s better to find out the replacement tire costs before you purchase. Relative to the tire and wheel size of the vehicle you’re considering will help prevent unpleasant surprises.

PRO TIP: When replacing tires on your luxury vehicle, and particularly a sportier luxury vehicle. Buying a quality set of tires from a reputable brand is very advised.

Spare Parts

You’ll be paying more for luxury replacement parts. Everything from the gearstick to the seat covers could cost more for high-end vehicles.  It’s because they’re typically made from very high-quality materials. For really high-end vehicles, there just aren’t many spare parts on the market. For example, to find spare parts for are Mercedes Benz and BMW. You may not able to find many spare Rolls Royce phantom parts on the marketplace for reasonable prices. Be prepared to spend a fairly amount of cash on spare parts – or better still, claim on insurance when things fail. The rarer your car is, the more chance you could spend on replacement parts.


Hidden Costs of a Luxury Car

Numerous factors affect what a driver can pay for insurance; therefore, the vehicle they choose is an important one of those factors. Luxury cars are typically very expensive to insure. The rationale is simple: the more luxurious a car is, the more the car owner will need to claim on their insurance if they have to repair it. Luxury automobile insurance is additionally relatively dependent upon location as well. The more dangerous a neighborhood is, the more likely that luxury cars are going to be broken into. This suggests that insurance prices will rise correspondingly. Going with an area insurer may be a good way of finding appropriate pricing in your area. For automobile insurance, shoppers are best to possess their broker to shop around in the market for the lowest rate and coverage.

PRO TIP: When buying insurance, do your homework and read through the fine print, particularly when it involves deductibles.

Some “do-it-yourself quotes” look better, but you need to see the coverages and deductible amounts.


Luxurious cars are usually pretty heavy although it isn’t always the case. Some luxury sports cars are remarkably light. But in general, expensive cars are heavy and have large powerful engines. Fuel prices are getting to be high if you would like to use an expensive car. 

Many luxury cars run higher-performing or turbocharged engines. These often require high-octane premium fuel to try to perform their best work. Though electronic controls mean you’ll run regular gasoline without risk. Feeding a high-octane engine a low-octane fuel will reduce performance and may even decrease fuel economy.

Not all luxury cars require premium-grade gasoline, however. Do your homework first, and remember of which grade of fuel you should use to feed your ride for minimized headaches and surprises. One way to avoid this expense is to get an electrical vehicle or a hybrid luxury car. An increasing number of high-end electric vehicles are being sold, including very capable and cozy examples from Tesla and BMW.

PRO TIP: While luxury car you purchase is within its warranty period. Make sure proper and continual maintenance is essential to maintaining that warranty in good standing. The warranty doesn’t cover damage or wear that happen as a results of failure to take care of the vehicle properly. For instant, fuel your luxury vehicle as required in it’s user’s manual. A guaranty may be a two-way agreement: your side of that agreement is to take care of the vehicle as outlined within the service schedule of the owner’s manual.

Some high-end features cost in the long run

Luxury cars built-in high-end features like power trunks and tailgates, performance lighting provisions, around-view camera parking systems, radar-powered hazard-detection technologies, complex central command interfaces, adaptive suspension, panoramic sunroofs, and more.

Millions of car owners enjoy high-end features like these on the daily without issue. However, other repair expensive may incur to maintain or repair parts associated with these systems once they eventually wear out and fail. Weigh your need for high-end optional equipment against the potential costs of replacement or repair.

For instance, it’s advised that shoppers to avoid vehicles with features like air suspension and panoramic sunroofs. Both can cause headaches and potentially expensive repair bills while the vehicle ages.

PRO TIP: Consider extended warranty coverage that specifically covers high-tech features, if it’s within your budget. In addition, make sure the used vehicle you’re considering has all software updates installed. It may help to avoid potential trouble. A battery check is also very advised before you purchase a second hand luxury car. Remember that a healthy battery, and charging system are vital to the trouble-free operation of all of the high-tech goodies in your ride.
Finally, consider a full Pre-Purchase Inspection (PPI) during a dealer setting for any used luxury vehicle you’re considering. for several shoppers, the peace of mind is well worth the relatively small cost of getting the vehicle assessed by professional  before purchase.

Hidden Costs of a Luxury Car in Canada

Learn more about the benefits of buying from Carnex. We believe that all clients deserve to know the good and bad of what they’re buying. Because we wanted to know these when we bought cars. That’s why at Carnex.ca, we will proudly display every detail every step of the way. Browse all the best cars, automobile buying tips, auto insurance, young drivers, driving techniques, auto industry trends from Carnex Blog.

How To Get A Car Rental In Canada

There’s more to renting the car than simply reserving it and paying for it, to make sure that you get the best deal follow these steps and tips....

Canada’s Top Winter Road Trips

Canada's top winter road trips - find the best car for your winter road trip! Canada’s vast landscape is a dream for all road trippers. Undoubtedly,...

All You Need to Know About A Lease Buyout

A lease buyout is in the end or at any point in time in a lease term, you have the option of buying out your leased car at the guaranteed purchase...

6 things to consider before buying a used EV

Six important things to consider before buying a used EV. Buying a used EV can be a great way to get yourself familiar with electric vehicles. While...

How to Sell Your Used Car Online in Ontario

5 simple steps to help you sell your car fast online! Selling a used vehicle isn’t always easy for everyone. The good news is, selling your car...

Why Should You Buy an Electric Car?

Why should you buy an electric car? Most of the Canadian consumers who are interested in buying fully electric vehicles may hesitate due to a lack...

9 Things that can damage your car’s paintwork

To keeping your vehicle looking good and new, it’s important to understand what damages paint off a car. Also note that protecting car paint can...

Top 7-Seat Electric and Hybrid Vehicles in 2023

Top 7-Seat Electric and Hybrid Vehicles in 2023   As the world transitions towards cleaner and greener forms of transportation, electric and...

Are electric cars really better than gas?

Are electric cars really better than gas? Everybody is suffering from the worldwide financial crisis. this is often why tons of people do everything...

Who is Carnex?

Carnex is an online EV dealer built for Canadians to buy and sell electric vehicles. Our mission is to provide Canadians with an alternative and transparent way to buy and sell used electric vehicles and to accelerate the transition to a sustainable green future.

Carnex.ca is Canada’s first e-commerce platform for used Electric Vehicles. Carnex is the leading Online Car Dealership in Ontario, with the company’s headquarters located in Toronto, Ontario.
Carnex is the fastest and cheapest way to buy a car online. We deliver to your door and collect your old car without extra charges. Buy Now-Pay Later Financing is available.

Why buy from Carnex?

Carnex is trusted by over 18 million buyers to find amazing discounts on used EVs and new EVs in their neighbourhood. Carnex specializes in electric vehicles, and we make the effort to make sure your EV purchase from us will be worry-free. Our skilled EV technicians perform a comprehensive diagnostic on all of our electric vehicles at Carnex because your satisfaction is very important to us. Carnex.ca will help you find the best EV bargains among the listings across Canada, and we’ll provide you with the vehicle history and comprehensive reviews for each EV.

Why Choose Us

We choose to only sale quality and zero-accident used vehicles. We are so confident in our cars that we will shamelessly show you all the perfections and imperfections of the vehicle – from the Chasis pictures to chipped paint spots.

We also offer a 9-day no question asked return policy and an 100-day in house mechanical warranty to make your purchase risk-free.

Get In Touch

14 + 5 =