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The Luxury of a Luxury Car
by L. Wang, with Steve KlemkeEditor’s Pick: Experience POWER in your life
From the Bimmer to the Mercedes to the Porsche, there is no doubt that luxury cars are hot. We have all seen the car on the street that catches your eye and makes you wonder what it would be like to own one. The prestige, superior quality, leading edge technology, and feeling of power that comes with a luxury car are undeniable. In an interview with Steve Klemke, a luxury car guru who owns four of them, I got a few tips on how to buy a luxury car and had the chance to take one for a test drive.
Why a luxury car?
Choosing a luxury car is a personal decision not based on what you need; rather, on what you want or can afford. If you need a truck, then buy a truck. If you need a family van, then buy a family van. If you still want a luxury car, then you’ll have to decide if owning an extra car that is not a necessity is the right choice for you.
People are attracted to luxury cars because they’re different; they’ve got more bells and whistles than the ordinary automobile. It’s the kind of car you look forward to driving every time you get into it, where driving isn’t a drag anymore, but a hobby. The sound of the engine, the feel of the acceleration, the cornering and braking when you drive it, and the fact that it still turns your head even after owning it for several years, makes a luxury car worthwhile.
What to look for in a luxury car
Look at both new and pre-owned vehicles. We all know that buying new means paying top dollar and taking a substantial depreciation hit once you drive the car off the lot. There are some great deals out there on pre-owned vehicles that you shouldn’t overlook unless you don’t mind taking the depreciation hit. Here are some suggestions on what to do before you make the luxury purchase:
1. Do your homework first. Buy some good magazines at the bookstore such as Car & Driver or Bimmer (BMW). There are many magazines that provide very detailed and objective information.
2. Talk to people who drive the car you are interested in. People with actual experience tend to give the best advice. They know what you can look out for if you drive that car and the specific things you should consider before you buy.
3. Go to a dealer. Talk to the sales representatives from both new and pre-owned sales departments. Make sure to ask about maintenance costs.
4. Take your time. Research and time can save you from kicking yourself in the end. Buying a luxury vehicle isn’t something that can be rushed; be sure to understand the car and the market.
~Steve Klemke is the Senior Vice President for KMC Mining Corporation, a third generation mining company. For many years his hobby has been buying luxury cars, and he currently owns more cars than he and his wife can drive. He has been married to Barb for 25 years and they have two grown children.
~L. Wang recently graduated from the University of Alberta with a B.A. in English and is an aspiring journalist who hopes to go overseas to report international news one day. As a big fan of hockey, sleep and rare steak, this writer thinks there’s no such thing as too much of the three.