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  • Many car lovers worldwide know that luxury cars aren’t just a status symbol, but an overall assessment of an individual’s technological position in society. Luxury cars are all about comfort achieved through various features such as electric adjustment, massage options, reclining seats, and in-car entertainment features with high-end audio and video systems that can be easily customized per your needs. Let’s look at some of our favorite luxury cars in the market today. - Source: Internet
  • In the metros and states that rank highest for luxury auto loan inquiries, however, Tesla was more popular. Beyond the District of Columbia, Tesla was more popular in California, both in the state and many of its metros, including the top three ranking metros. It’s also more popular in Nevada, Utah and Hawaii, as well as two metros in Texas. - Source: Internet
  • Despite the unstable economy, consumers are still interested in making luxury purchases — particularly when it comes to their next vehicles. Of all auto loan queries on the LendingTree platform between July 2020 and June 2022, 20.2% were for luxury cars. A closer look reveals that residents in California metros are the most interested in financing high-end cars. - Source: Internet
  • Although there’s an ever-growing variety of luxury vehicles available to consumers, new data reveals that BMW is the most popular make that consumers consider. However, Tesla’s not far behind. The electric giant claimed the No. 1 spot in several key metros and states, and — notably — one Tesla in particular ranked highest as the most popular luxury car model. - Source: Internet
  • It means that Tesla now has a very significant advantage over last year’s luxury sales leader - BMW, which noted 73,714 sales (up 3.2% year-over-year) and 14.6% sales. - Source: Internet
  • The District of Columbia is included in both our metro (designated as Washington, D.C.) and state rankings, but the results are different. That’s because the metro rankings include inquiries made in the outlying areas, while the state rankings are confined to district borders. - Source: Internet
  • Of all luxury auto loan inquiries, the largest percentage is for BMWs (17.5%). Just behind BMW, Tesla (14.4%) is the second most common luxury car brand consumers identify in their auto loan inquiries. Take a look at the full rankings: - Source: Internet
  • Still, BMW is the most common luxury make in 79 of the 98 metros analyzed and 41 states. Following that, Mercedes-Benz claimed the most popular spot in six metros and one state, and Cadillac and Audi claimed two metros and two states each. Of the bottom-ranking luxury car makes, Lexus claimed one metro. - Source: Internet
  • Depreciation rates may be a factor in the popularity of Tesla models. Used cars make up a large portion of overall auto loan inquiries, and generally, the most popular luxury models are among those that depreciate the fastest. But according to Jones, that isn’t true of most Tesla models. - Source: Internet
  • Tesla sells only all-electric cars, which means that 21.8% are all BEVs. On top of that comes electric cars sold by other brands such as BMW, Mercedes-Benz, Audi, Volvo, Porsche and Jaguar. - Source: Internet
  • While the percentage of inquiries for luxury cars is highest in California metros, the state itself ranks only second overall. The District of Columbia has a higher percentage of inquiries for luxury cars, comprising 35.5% of all auto loan inquiries. - Source: Internet
  • The two top-ranking metros also have some of the highest median income levels in the U.S. While high-earners are more likely to be able to afford luxury cars, lifestyle creep — or increasing spending while earning more money — could also be a contributing factor here. - Source: Internet
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