These cars also need higher grade fluids and more expensive parts, right from the air filter to the clutch plates. With the pride of flaunting that cool badge comes the challenge of looking after that high-end car. Here are six factors you should consider before dropping down your hard earned money on a luxury car:ReliabilityPaying over Rs 30 lakh for a car does not equal a guarantee of reliability. Either way, you depend on spare parts that aren’t sourced locally, which means they have heavy taxes levied on them. In India, however, they face everything from potholes and broken roads to adulterated fuel and harsh weather which makes them age a lot faster. Some brands do offer buy-back plans, but it depends on the car’s condition. For example, if you buy a new BMW 5-Series, the insurance will cost you nearly Rs 2 lakh.Resale ValueThe higher they stand, the harder they fall.Spare PartsIn India, most high-end car manufacturers assemble their products locally or import them directly. This is an expense you have to bear each year, and let’s not forget, your car is still depreciating all this while.However, what many premium car buyers don’t realise is that there’s a big difference between buying a luxury car and owning one.Service CostGiven that these cars come loaded with latest technology and electronics, the facilities needed to service them are expensive and the technicians need to have greater qualifications and knowledge as well.

These cars are sometimes tweaked (raising the ground clearance or offering higher profile tyres) a little to cope up with the road conditions in emerging markets, but they aren’t built specifically for them, which is why premium cars often face flak for their reliability problems that cheaper cars do not. This also makes spare parts harder to source, and stories of luxury cars waiting in garages for weeks due to unavailability of parts aren't uncommon.InsuranceExpensive cars are equally expensive to insure.Also, there’s a golden rule that applies to all automakers – they make the real money in after-sales as spare parts come at a premium. This results in you losing your hard earned money. The positive side of this is that you can get great deals on used luxury cars as their value can drop by as much as 50 per cent in as little as three to four years. In a luxury car though, your mind is constantly wary of other motorists and what damage they might inflict upon your car. Thanks to easy financing options, buying a luxury car isn't a dream anymore Gas cap. date seal series for many buyers.Here are six factors you should consider before dropping down your hard earned money on a luxury car:Representational imageHere are six factors you should consider before dropping down your hard earned money on a luxury car:Luxury cars come packed with the latest technology, performance, head-turning designs and, most importantly, bragging rights.

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