Buying a Sports Car - The Benefits and Drawbacks

Many financially gifted individuals are constantly thinking and wondering what to do with their fat wallets - should they put it in the bank for future investment use it for something that is tangible.  They might just say hey, how about a brand new sports car!

But here's how to look at both the positive and negative sides of spending cash for a sports car. 

Fanatics can find the most interesting and beautiful reason to own a sports car. The good news is highlighted below.

• Sports cars fit the lifestyle of the rich, the famous and the elegant. 
• These sports cars have more powerful engines with up to 750 horsepower. 
• Sleek, convertible types depreciate more slowly than hardtop rivals. 
•  The newer the sports car model, the more impressive the driver is. 
•  Fans of pricey sports car can choose between the coupe type and convertible type. 
•  Automatic transmission sports cars have better resale values. 
•  High-end exotics have been largely immune to the recession - particularly Italian Imports. Check out my Prestige of Italian Sports Cars article to learn more.
•  Less striking cars do best, often losing as little as 6 to 10% of their worth over five years. 
•  Sports cars are used in many cases for car racing.  Both men and women are starting to become addicted with the sport.

Fitting as it can be (for their lifestyle), its not all that easy when it comes to buying sports cars. The not so good news is:

• Sports cars are prone to being affected by recurring and financially viable trends.
• Some sports cars have very expensive and hard to find repair parts.
• Sports car buyers should not expect to ever get back their full investment when reselling the car. Expensive sport cars infrequently serve their purpose as just a means of transportation.  They just become the collectors item that is rarely used. 
•  Driving an expensive sports car means spending extra money for gas.
•  Models that were sold at special discounts decrease in value faster than other models.
•  Various exotic sports cars that only a minority can find the money for are often resold because of costly maintenance. You have the potential to find deals on sports cars though, as noted in How to Get a Cheap Sports Car.

On the other hand, sports cars have become a passion for some. It could indicate that the buyer would spend more than he or she should, since it brings enjoyment to the owner. The rich and famous sometimes are willing to sacrifice the costly price of owning one for the joy and prestige it rewards them.