Study: Australia Is The Most Affordable Country To Buy A Luxury Car

Study: Australia Is The Most Affordable Country To Buy A Luxury Car
B&T Magazine
Edited by B&T Magazine
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Australia has the sixth highest luxury car density, and is the most affordable country to buy a car in relation to its average annual salary, according to a new report released today by Confused.com.

The study compared the last four years of car sales data in each nation with its overall population to reveal the countries with the largest density of luxury cars per person.

While Luxembourg (surprise, surprise) ranked number one with 13 people for every luxury vehicle and Australia ranked sixth, it was the latter which proved the most affordable nation with the annual salary equalling 39.73 per cent of a luxury car’s cost.

The great southern land beat Denmark, Switzerland, and the USA for the top spot, boasting an average luxury car cost of $149,788 in comparison to an average salary of $59,508.

Top 10 most affordable countries to buy a luxury car are as follows:

Rank

Country

Annual salary GBP

Average cost of luxury car

Annual salary as % of luxury car cost

How many years of annual salary it would take to buy a luxury car (assuming no other expenditure)

1

Australia

$59,507.84

$149,788.20

39.73%

2.5

2

Denmark

$58,029.33

$147,063.46

39.46%

2.5

3

Switzerland

$101,088.72

$297,214.72

34.01%

2.9

4

USA

$57,652.53

$174,595.21

33.02%

3.0

5

Ireland

$48,271.21

$168,966.18

28.57%

3.5

6

Canada

$46,675.48

$168,081.62

27.77%

3.6

7

United Arab Emirates

$44,556.14

$161,685.03

27.56%

3.6

8

Luxembourg

$69,200.34

$261,936.88

26.42%

3.2

9

UK

$43,847.03

$204,650.35

21.43%

4.7

10

France

$43,116.78

$230,771.41

18.68%

5.4

Conversely, Vietnam was the least affordable palce to purchase a luxury car, with the average luxury acr price being an astounding $972,438, compared to its reported average annual salary of $7,275, just 0.75 per cent a luxury car’s cost.

“Many people aspire to drive a luxury car one day – that is, if you’re not already lucky enough to be driving one!” Said Confused.com insurance expert, Alex Kindred.

“Often kitted out with top of the range technology and ultra-comfortable interiors, these luxury vehicles can be very expensive to buy. As our research shows, the cost of a luxury car can also vary in affordability depending on where you live in the world.

“As well as being expensive to buy, these vehicles are also often costly to run, with the cost of maintaining such cars also being higher than your average vehicle.

“It’s important to keep this in mind when considering buying a luxury vehicle and remember to compare car insurance quotes, and other maintenance costs to ensure you’re getting the best deal possible.”

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