Many individuals dream of owning flashy, expensive cars. However, it is very important to have a good idea of what the expenses are that are involved in owning one of those cars. Luxury vehicles, sports cars and other types of expensive cars are not only costly buy; they are quite expensive to maintain, and also repair when necessary. The following are a couple of the most expensive cars that can be crashed, so consider this information before buying a luxury car. If you ever are involved in an auto accident you should contact a car accident lawyer Corpus Christi right away to get assistance.
Luxury Vehicles Lead The List In Collision Costs
Data is collected by the Insurance Institute for Highway Safeway from collision reports so that the cost of repairing different vehicles can be determined. The most expensive ones to repair are luxury models. Even something basic like a broken headlight may cost hundreds of more dollars for a luxury car compared to an economic model. The average cost to repair a standard passenger car is about $390. However, the vehicles below will cost a lot more repair. This data is measured by the IIHS using claim frequency, which is the rate owners report claims and losses on the vehicles. Claim severity is the average worth of a claim and overall loss is the average payments per year on an insured vehicle.
Bentley Continental GT (4-Wheel Drive Model)
This four-wheel drive luxury vehicle is number one on the IIHS list for having the highest collision costs. It has a $2,500 average overall loss, which is around six and a half times more than the U.S. average. This luxury coupe’s claims frequency is about 5.1, and its claim severity is around $35,000. That is around the total cost of a U.S. standard passenger coupe. To see whether you have a case, click here.
Bentley Continental Flyer Spur
This is the second most expensive vehicle to crash. It is the four-door Bentley model version of the Bentley Continental GT. The Flying Spur’s repair frequency is 8.1 and has an overage loss that averages around $2,300. It has an average severity of claim of about $29,000 on the Flying Spur.
Bentley Continental GTC
The Continental GTC model is in third place to give the British automaker Bentley the top three spots. The claim frequency on this convertible model is 6.5, and its severity averages at about $29,000. The overall losses are at around $1,900 for the Continental GTC.
The fourth most expensive vehicle to brash is the I8 hybrid sports coupe from BMW, the German automaker. This model’s claim frequency is 7.7, with its average claim frequency being around $22,000. The BMW i8 has around an average $1,700 overall losses.
The overall loss on the GranTurismo is around $1,500 or four times higher than the average. The claim frequency on the vehicle is 8.5, and the luxury sports coupe is more expensive compared to some of the luxury models that are on the list. This Maserati model has around a $19,000 average claim severity.
This is the sixth most expensive vehicle to crash. The BMW M6 has an 8.6 claim frequency and around a $17,000 average claim severity.
The Audi RS7 is in seventh place with a $16,000 average claim severity and an 8.7 claims frequency. The Audi RS7 has around a $1,400 average overall loss.
The M3 is the third BMW model making the top ten. It has an 8.0 claim frequency and average claim severity of about $1,700. Usually, the overall losses on the M3 are about $1,400. If you own one of these vehicles already or can afford to buy one, take your time and be sure to thoroughly investigate the warranty offerings from the manufacturer, find a trustworthy service center, and ensure you are comfortable with all of the financial obligations associated with the price tag before you make a purchase. Expensive cars don’t just have an initial high price tag; over time they also have the higher total cost of ownership. This happens with maintenance, car detailing, insurance, etc.
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