A Luxury Sports Car Can Make a Great Gift
Nothing Says I Love You Like a Mercedes...
We have all seen the commercials, especially around the holiday season, with the luxury sports car sitting in the driveway with a big red bow on it and a exceedingly happy person inside the house admiring their incredible gift. You have asked yourself, "Does anyone actually buy a car like that for a gift?" Yes. Some people do.
Buyer Beware
The luxury sports car makes a great gift, but frequently an overeager, well-meaning gift-giver will make unfortunate decisions in purchasing the car. If you want make a special day or evening, you can always get a luxury car rental for the day. These mistakes are most commonly caused by a failure to think the decision through clearly. For instance, in an effort to impress the gift recipient the buyer might buy more car than they can manage to pay for. This can cause too much debt and poor financial situations. Credit cards
should not ever be used to finance large purchases, like a luxury sports car.
Another temptation is to buy a used luxury sports car in order to at first save money, but what can often happen is that the money saved on purchase is more than lost in repairing the vehicle soon after purchase. And when a gift costs the recipient an exorbitant amount of money to maintain, the receiver can hold a grudge against the giver. An example of this is the parents who want to give their graduating child a special gift to recognize their accomplishments. The parents might find a ‘good deal' on a used luxury sports car and believe they are doing a good thing but hurts their child's pocketbook in the end.
If the car breaks down soon after it is given, then the child may be left to foot the repair bill and often graduating students are somewhat strapped for cash initially, as it is. The repair expense goes up sharply for foreign luxury sports cars because parts can be harder to find and mechanics may be harder to find.
Be Realistic
This information is not meant to discourage anyone from giving a luxury sports car as a gift. The intention is to help the giver think clearly and do some study prior to making such a big acquisition. Be sure you know as much history on the car as you can if the car is used. Don't overspend and then you can sit back and enjoy the smile on the face of the lucky gift recipient.