Status
The intangible value of status adds to the worth of a luxury vehicle. Some people simply want the latest and greatest of whatever is in the market; having the money to buy a luxury car points to your success. Joining the elite group of luxury car owners is also easy since you can buy a used luxury car - you get to enjoy all the perks of a better class of cars and the after service associated with them.
Aesthetic value
A significant divergence exists between a standard vehicle and a luxury car, in which the latter has the distinct look that makes it stand out. Smoother design shapes and lines and vibrant paint are part of the luxury package - no flaws are visible on the bodywork or paintwork. They are also known for having some of the plushest interiors and the most options for customization.
Design quality
Luxury cars typically meet stringent technical requirements. There is a world of difference between the quality of fit, finish, overall performance and operating efficiency of luxury cars and those of lower priced models. A car's potential to go fast and handle well is a powerful lure characteristic of luxury cars, with some boasting horsepower upwards of 300 mph and going up to 500 horsepower. Luxury cars also offer advanced safety options and the best entertainment technology. Excellent aerodynamics is also an indication that a lot of resources and research have been pumped into the vehicle's design.
Size
Equating luxury and size is a worldwide notion. Size provides an extra level of refinement, craftsmanship, features as well as an overall presence and stance that is unique to luxury cars. However, there is also a market for compact, fuel-efficient luxury cars with the right features. An increasing number of luxury car owners today aren't pining for bigger vehicles. For instance, many owners of BMW 3 Series compacts have no intention of moving up to the larger 7 Series and have no problem paying 40,000 Euros for a 3 Series.
Reputation
A lot can be said about the emotional connections people can make with a brand and how that makes them feel, but there is a lot more to luxury cars than prestige. When it comes to the luxury market, the fact that a brand is time-tested is a key selling point. The customer experience associated with a brand is also critical - people want to walk into a dealership and feel that their needs are being met. Luxury car brands are also known for their credibility when it comes to safety, so much so that consumers are often willing to spend more on new innovations.
