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Is it worth buying luxury cars?

Whenever we see a Ferrari in movies or on track, we dream of owning one. But how practical is it? To some people, these cars are only used in movies. They are like fantasies. There are others, on the other hand, who would put all their money together to own one. So what compels one to buy a seven figure luxury car?

Image and prestige

People love the intangible value of status. It’s the feeling of showing off to other people and making them envy. Some people just want the latest and greatest of everyday. The feeling of owning something special, which many people don’t have is the driving force behind buying luxury cars. Some cars, like the car driven by the F1 champion, are like antiques. People who love collectible would like to have it. It is the story behind it that attracts people.

More luxury, more safety

Who doesn’t like luxury lifestyle? People enjoy the feeling of luxury on their move. Expensive cars are also safer. Modern cars have many new technologies which are very helpful in keeping you and your vehicle safe. Auto drive, keyless cars, auto engine off, etc. have been some of the features of modern cars. People who are fond of gadgets and technologies would want to own a ‘James Bond’ style car.

Most people don’t have the money to afford such car. So, they use their credit cards to pay. This is one of the reasons for the enormous debt that Americans are having. They spend more than they can afford to.

People are going towards intangible benefits, like ‘feeling special’. Buying luxury car is considered as irrational buying behavior by many people. You can get the functional aspect of the car in other less expensive brands as well. The maintenance cost of a luxury car is huge. The tax is high, insurance is high and you won’t get the parts easily if something goes wrong.

People have self esteem needs and luxury cars provide just that. Those people who have reached the self-esteem stage of their life and afford to buy such car, can buy one. There is nothing wrong in it. It gives you a sense of achievement and more acceptance in society. But if you don’t have the money to buy it and you are living on credit, and still on stage 3 or 4 of Maslow’s Hierarchy of needs, then it’s not worth buying a luxury car.

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Top 5 most expensive cars ever sold on auction

Classic cars are always on demand. There are many rich people out there who are eager to buy the most expensive cars in the world. The rarer the car becomes, the more expensive it gets. Here are the list of top 5 most expensive cars ever sold on an auction.

#1 1962 Ferrari 250 GTO


The auction for this car took place at Bonhams The Quail in 2014. It is the most expensive car ever sold till date. The car was built for competing in the 1963 FIA World GT Championships. The 250 GTOs won this competition in 1962 and 1963 as well. Only 39 pieces of this model was built by Ferrari. The car was sold for $38,115,000!

#2 1957 Ferrari 335 Sport Scaglietti


The auction for this car took place in Artcurial, Paris in 2016. This car has a great racing history. It has raced in Sebring 12 Hours, Mille Miglia and Le Mans. It was sold for $35,700,000.

1954 Mercedes-Benz W196


This car was driven by five times Formula One winner Juan Manuel Fangio. The car was sold in the original condition; there were blemishes and a layer of grime indicating that it has been on the track. The car was sold for $29,600,000 at Bonhams, Goodwood Festival of Speed in 2013.

#4 1956 Ferrari 290 MM


This car was built for Juan Manuel Fangio for racing in the 1956 Mille Miglia. This was the most expensive car sold in New York City. It was sold at RM Sothby’s, New York in 2015 for $28,050,000.

#5 1967 Ferrari 275 GTB/4*S NART Spider


There were only 10 pieces of it left when it was sold in 2013 at RM Auctions Moneterey Sale for $27, 500, 000. It appeared in an appearance with Steve McQueen in the movie The Thomas Crown Affair. The car importer Luigi Chinetti was the first to introduce this car as he realized the demand for open-topped sports cars in America.

The cars on the list are truly classics. These cars are not only famous for their brand, but also for their history. Some of these have been driven by legends and have participated in a number of car races. The demand for vintage sports car will never diminish.

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Top 3 websites for Shelby Cobra parts and kits

Cars are a passion for many people. Besides vintage and exotic cars, people also like kit cars and model cars.  To make kit cars, you need car kits which are found in different prices ranges. People get great satisfaction in building their own car from model car kits. The kits contain all the parts and necessary items needed to build a car.

Shelby Cobra is a vintage car and people love to have it. There are many websites for Shelby Cobra parts and kits. Here are the top 3 websites.

Pilgrim Motor Sports


The bodies of the car are of very good quality. They have gel-coat finish with high gloss shine and can be found in a number of colors including White, Black, Red, Navy Blue and Green.

AK Sports Cars


You can find different types of kits here. One is the basic body and chassis kit. The other one is the Factory Built Rolling Chassis. This is registered and you can start driving. The standard factory built AK 427 is 100% complete, taxed and registered.

Factory Five


The kits are designed to reproduce the looks of 427 Cobra. The essence of the car is kept intact, but modern technology, materials and parts are used. This improves performance, comfort and reliability.

With car kits you make a brand new car of your own choice. You can reassemble parts of famous cars and make an entirely new car. You need to plan well before buying the kit. You need to finalize the final look of the car, so that you know what parts to buy. You can take help from online or experienced people who have made cars using kits before. If you combine parts of many cars, it might get expensive. So, you should set your budget before buying your kit.

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