You will find a staggering number of luxury and sports cars in Dubai.Nowhere in the worldisit as common to spot a multi-million-dollar luxury car cruising the roads as it is in Dubai. It comes as a surprise to both tourists and expats and offers them a real-time opportunity to own one of the leading luxury cars like Jaguar, Range Rover, Bentley, Porsche, Audi, BMW for themselves.But, the cost of car insurance in Dubai for these luxury cars is also very high.
When everyone around you is driving some or the other luxury car, what is holding you back? Though it is a huge investment, you can easily find car dealers in Dubai that are offering a range ofluxury and exotic sports cars in Dubai. However, you must take this with a grain of salt. There are certain often-missed details that you must know of.
So, if you are planning to buy one of the eye-catchingluxury cars in Dubai, we can help you with someimportant things that you must know before zeroing down on one-
1. The Insurance Cost of the Luxury Car
As you already know,it is a legal obligation to havecar insurance in UAE. People often make the mistake of relying only on a third-party insurance cover, but for a luxury car, the only reliable option is a comprehensive car insurance.
The cost of premium can range anywhere between 6 and 10 percent of the actual cost of the car.So, we think that it is imperativeto have an idea of the annual premium before investing so much in your dream car. To give you an overview –
- For a Ferrari 458, the comprehensive insurance can cost anywhere around AED 10,400
- All-inclusive insurance for your favorite Mercedes-Benz G63 AMG will cost you AED 10,200 including agency repairs
- The insurance premium for convertible supercars likeMaserati GranCabriocan cost you AED 19,095 and AED 20,010 for your favorite Ferrari California(with repair cover)
- And, to own a 1.3 million luxury beast like Bentley Bentayga, you will have to pay a car insurance premium of around AED 8,500
2. Check the Residual Value Rating
As we all know, the resale value of a car is a crucial deciding factor. If you value your money, it will be at the top of your mind at the time of purchasing a luxury car in Dubai. It is definitely worth knowing if your car will fetch you a good resale value after 3 to 5 years. You will be surprised to know that even the entry-level sports and luxury cars in Dubai have a high resale value of 48 to 50 % even after 3 years of purchase.
So, when you are purchasing a high-end luxury car, make sure to analyze the Residual Value Rating of that particular model. It will offer you great insights about the worth and quality of the car and its value retention. It will alsogive you an idea about the car’s durability and reliability.
3. Warranty on the Car
It is always recommended to buy a luxury car from a manufacturer or car dealer who offers you an extended warranty onthe maintenance and repair service.
Also, check if the manufacturer is providingan extended warranty for powertrain, rust protection etc. You know that luxury car repair can be more expensive thanstandard maintenance.So, make sure that you double check on the extended warranty covers on your luxury car.
Also, you can check if the dealer or manufacturer is providing concession on agency repair services.
4. Car Usage
Everyone wishes to buy a luxury beast. The sleek exterior and world-class features of these luxury cars can lure in anyone.But, before that, you need to ask yourself one question –For what purposes are you buying a luxury car?
It can be one of the most important deciding factors when it comes to buying a vehicle.Ask yourself if you are buying it for commuting purpose, as a status symbol or for a desert safari.
Undoubtedly, we have some outstanding roads, which make it all the more luring to drive a luxury car on these smooth roads and natural terrains across the UAE.
So, make sure that you purchase the one that meets the most of your needs and preferences. If you want to just enjoy the desert drive over weekends, and then you can go for supercars like Mercedes-Benz G63 AMG 6×6, Sand Racer GT500 etc. that are designed for a desert drive or dune bashing.
And yes, remember thatoff-road assistanceis usually not a part of car insurance in Dubai, so make sure that you get it as an add-on in your original car insurance policy.
5. Fuel Cost
You know that fuel is cheaper in Dubai when compared to other countries in the world. But, do you know that luxury and sports cars consume more fuelas compared to a budget car? Unless it a hybrid technology car, which has asignificantly lower fuel consumption, all sports cars are a fuel-
There are some luxury cars which run on premium gasoline,such as Mercedes, but there are a few models which do not run on premium gasoline. So, you have to decide which one youwant to buy.
Summing it Up!
We see several luxury cars on our roads, and with the availability of so many luxury car models that are starting from $35,000 has roped in new buyers and not the regularluxury buyers of cars in Dubai.
There are several expenses involved in the maintenance of a luxury car like fuel maintenance and repair cost, but the style, comfort, and class associated with it justifies the worth.
So, to help you match your class and budget while buying a luxury car in Emirates, we hope that this article will help you to decide the best one for you. There are a lot of luxury car dealers in Dubai, where you can grab the best of the deals.