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Here’s What You Need to Know About Luxury Cars 

Posted on May 26, 2022 | by | Posted in Insurance

Luxury cars symbolise decades of history and craftsmanship, which sets them apart from other vehicles. Collectors and enthusiasts alike have been amassing collections of luxury automobiles from the early twentieth century to the present day. The cult following of various brands and models has distinguished luxury automobiles from regular everyday vehicles since their conception. Are you interested in owning one for yourself? We are here to help you make that decision! In this article, we will be presenting what you need to know about luxury cars!

Where did it all begin?

The history of luxury automobiles is concise yet has a lot of memorable moments. About one hundred years ago, the first modern luxury automobiles were produced. Henry Ford was the inventor of the very first high-end automobile. He made a notable transition from manufacturing horse-drawn buggies to manufacturing horseless carriages, or cars, as they are more commonly known today in modern language. The Ford Motor Company quickly became one of the most recognisable names in the history of the automobile industry.

What makes luxury cars different?

The pricing is the most apparent and first distinction between luxury cars and other vehicles that people observe. While you may be able to purchase a midsize car base model for less than $20,000 or an SUV for less than $40,000, a luxury vehicle can cost well over $100,000. Moreover, premium vehicles are typically constructed with superior materials. Luxury automobiles typically employ wood trim in place of plastic covers for elements such as cup holders and storage bins. In addition, many luxury vehicles feature electrical components that ordinary vehicles lack. These additional high-quality extra features are the main differentiator between your Lamborghinis and your Corollas. 

What is the impact of luxury cars?

Luxury automobiles are a hallmark in pop culture. They feature in films and on television to illustrate the luxurious lifestyles of the characters. The legendary DeLorean DMC-12 from the 1985 film “Back to the Future” is a prime example. The DMC – 12 may resemble a chrome-plated Monster at first glance. However, it is the offspring of John DeLorean, and in addition to its mad scientist look, it features a 130-hp, 2.9-litre V-6 engine. However, its ability to travel through time, which in the 1980s was considered a piece of futuristic technology, makes it an icon. Automobile manufacturers frequently donate vehicles to the production crew for free advertising within the project.

Are they worth their high price point?

Despite their hefty price tags, luxury automobiles are well worth the additional safety, comfort, and speed they offer. Considering maintenance and fuel costs, a premium vehicle could save you money in the long run. Obviously, that depends on how frequently you drive or use your cars. If you primarily use your vehicle to commute to work and run errands, a premium car may not be worthwhile due to its higher cost per mile. Suppose, however, you need your vehicle to be as secure as possible, or you need to move from one location to another as quickly and efficiently as possible. It makes sense to own a luxury vehicle due to the numerous safety features not accessible on regular cars.

How do I know if a luxury car is right for me?

Several considerations will assist you in determining if a luxury vehicle is ideal for you when you are considering purchasing one. Consider how frequently you use your car and for what purposes. If the majority of your driving is on city streets or highways, a luxury vehicle may not be worth the greater fuel consumption and insurance prices. Suppose, however, that you frequently drive for business or pleasure. In this instance, it may be worthwhile to invest in a larger car with additional features that enhance the driving experience and make the daily journey more comfortable. 

What features make luxury cars distinct? 

The majority of automobiles on the market today are designed to make driving more manageable and convenient. The variety of amenities might vary significantly between models and manufacturers, but some features are standard in luxury vehicles. Current supercars typically include scissor doors or inward-opening doors. This is reflected in the Lamborghini Aventador’s unique design. The doors open upward to eliminate the need for additional space in the parking lot and allow the driver to see out the door while reversing, as these automobiles typically have inadequate rearview capabilities. The Aventador is equipped with miniature explosives in the door hinges to release the doors in an accident in which the vehicle is inverted. This enables the driver to exit the car when the doors are otherwise impassable.

Are luxury cars hard to maintain?

As a result of their numerous premium amenities, luxury vehicles may be more expensive to maintain than standard vehicles. This may involve replacing high-quality tyres, fuel pumps, airflow sensors, and many more components that need replacing from time to time. If you drive a luxury vehicle for an extended period, it may be more expensive to replace it than if you had bought a new car after two years. It is suggested that you invest in high-quality tyres from well-known manufacturers so that your vehicle operates optimally and lasts longer. You should also set aside funds for unexpected expenses because luxury vehicles are constructed to higher standards, and maintenance might be costly as you can expect. Interested in getting insurance? Feel free to visit Matrix Insurance if you need luxury car insurance for your luxury vehicle needs!

7 Profit-Enhancing Strategies for Automobile Dealerships

Posted on May 26, 2022 | by | Posted in Insurance

At first glance, the business of car dealerships undoubtedly appears extremely lucrative. Car keys are exchanged between owners and customers every day, and expensive vehicles are driven off dealerships just as much. However, those highly involved with the retail automotive industry are aware that dealership profitability in the current economic context is precarious. That’s where we come in! In this article, we will be going over our profit-enhancing strategies for automobile dealerships!

1. Work within your locality

Many aspects of service marketing are now within the hands of manufacturers and not the car owners. Because this business technique assures brand uniformity across the country, it makes sense for the factories to utilise this. On the other hand, a one-size-fits-all approach isn’t always feasible at the local level, as you’ve probably experienced for yourself. You can use text or call them, or use social media direct messaging to provide messages to specific service customers in today’s ultra-connected digital world. 

With the correct technologies and a thorough grasp of the ownership cycle, you’ll be better positioned to win the next service call. Your dealership’s ability to compete with surrounding franchises and aftermarket service centres depends on tailoring your service marketing to your customers’ vehicle ownership lifecycles, from new owners to pre-owned owners to value-based owners.

2. Improve your management

The profitability of a dealership and the calibre of its employees go hand in hand. When you have the right team in place, your dealership reaps the benefits of top workers who excel at sales and customer service-oriented technicians. In contrast, when a high employee turnover rate plagues your dealership, you suffer ongoing costs associated with acquiring new employees. 

Develop a strategy that will allow you to recruit and retain exceptional and top tier people. Incorporate a systematic recruiting procedure that attracts good employees. Execute rigorous new-hire training that encourages employee retention, and seek to instil a dealership culture that recognises and rewards successful team members who will benefit your business in the long run.

3. Make sure all your cars are clean

Rising customer demands make vehicle refurbishment a must in car dealerships. Improving the appearance of your automobiles boosts your chances of selling one. You wouldn’t purchase a piece of furniture with stains all over it and crumbs between the cushions, so why should a used automobile be any different? Ensure that you hire someone who can make all your vehicles eye-catching. You will never go wrong if each car is entirely retail-ready!

4. Utilising the internet 

In recent years, the automobile dealership experience has experienced a fundamental shift, with potential car-buyers increasingly substituting online automobile evaluations and vehicle history data for dealership visits and test drives. People spend a reasonable amount of time on the Internet to research before making a vehicle purchase. There are currently a variety of innovative systems available to dealers, all of which are geared to assist purchasers in researching inventory online and completing the majority of the transaction from the convenience of their desktop or mobile device.

Since you can no longer rely on automobile buyers physically visiting dealerships in their leisure time, you must engage them on their preferred platform. Enhance the online car-buying experience on your dealership’s website and communicate with potential clients. You can also utilise social media to answer inquiries and address customer issues before they become negative reviews. Achieving an impactful online presence will positively affect the profitability of your dealership.

5. Find other avenues for revenue

Consistent revenue will always be the top priority for every enterprise. Adapting and discovering alternative revenue streams can help you sustain your dealership. With an eye toward the future, auto parts retailers may want to consider selling auto parts online as a profitable way to generate sales from both existing and new consumers. You can use your company’s website to construct an effective order-buy system that you can offer to your current clientele. Start by concentrating on high-turnover items and best-sellers. As you experiment with parts supply and various marketing communications techniques, use your parts store as a catapult to advertise your dealership’s vehicle inventory and service facility to potential customers.

6. Offer online F&I services

Dealerships are empowered to interact and cooperate with clients before they even approach the dealership by allowing them to begin the F&I process online. The first step is to offer a wide range of cutting-edge F&I goods that match the needs of your consumers. The openness of the online experience allows consumers to access relevant information and modern digital tools such as films, infographics, and references to grasp the value of F&I products better.

Customers must be educated about the condition and worth of F&I items before making an informed decision. You can’t control your consumers’ access to knowledge in F&I, but you may help them investigate and fulfil their demands. Online F&I processes must be instructive and instructional so that when customers get to the dealership, they are ready to work with a sales consultant.

7. Invest in maintenance 

The most important part of owning a car dealership is making sure all your vehicles are ready to hit the asphalt as soon as they’re purchased. In this day and age, our modern cars are often filled with complex pieces of technology. About 10,000 parts and components are needed to manufacture today. Besides the hardware, it also contains many features that revolve around its software. A good car should work perfectly in any weather and be reliable any day of the week. To guarantee your customer a fully functioning automobile, you must invest in maintenance. 

Are you interested in getting your car insured as well? Feel free to contact Matrix Insurance to have access to the best motor trade insurance brokers who will be glad to assist you in getting the best insurance package.

How to Take Care of Your Luxury Automobile

Posted on April 20, 2022 | by | Posted in Insurance

Regardless of the type of vehicle you possess, it requires routine maintenance and proper care. However, purchasing a luxury car is a significant investment of your hard-earned money, so the level of care needed increases exponentially. Also, you will need to learn additional maintenance tips and tricks to help care for and protect their unique features. In this article, we elaborate on how to take care of your luxury vehicle! 

1. Consistent maintenance

Maintaining a premium vehicle is more expensive and laborious as compared to a non-luxury car. Each luxury car is designed with the assistance of highly skilled engineers and mechanics. Due to their complex features, they frequently require more in-depth maintenance than other standard automobiles. After all, if your dream sports car breaks down unexpectedly and requires a fortune to repair, it will break your heart and your savings account.

While you may be able to put off routine maintenance, such as oil changes in a regular automobile, you must replace your oil according to the manufacturer’s recommendations to ensure that all components of your luxury car operate at peak performance. It contains more moving parts than a standard motor, necessitating more maintenance to keep it in top shape. For example, the high-performance engine beneath the hood of a Lamborghini involves more complex mechanical engineering as compared to a factory-grade Honda civic. As a result, it makes sense to strictly follow the manufacturer’s recommended schedule to let a professional inform you if your luxury car works optimally.

2. Be mindful of the interior

Regardless of how frequently you drive your luxury car, make a point of vacuuming the interior every other week. There may be spills of beverages, crums, leftovers, and even clothing on the seats, giving the vehicle a dirty appearance and obscuring the splendour of the leather seat covers.

Cleaning the seats discourages the growth of mould or the invitation of unwanted insects. Moreover, don’t forget to vacuum the doors, consoles, mats, and floor mats. While you’re at it, you can also polish the windshield and windows, revive your car’s leather upholstery with specialised leather cleaner, and even improve the aroma of your vehicle with brand new fresheners. 

3. Keep the exterior clean

Of course, maintaining and servicing the exterior is equally as crucial as important as cleaning the interior is for you and your passengers. Luxury cars are conceptualised and made to be eye-catching. They can attract anyone’s attention while you’re driving down the street, which is why they must constantly be shining and gorgeous.  

If your luxury vehicle is not washed regularly, its delicate design and exotic appearance will be lost beneath a layer of road dust and dirt. Therefore, you should consider washing your automobile regularly to remove any dirt or debris that builds over the week, maintain its appearance, or get a car wash membership. Cleaning your car yourself is also a good option, allowing you to acquire the best cleaning materials and give your vehicle the proper care it needs.

4. Be very careful while driving

A large part of keeping your luxury vehicles in top shape is by being a careful driver on the road. While your luxury vehicle may have plenty of horsepower and performance, you should avoid putting yourself at risk by driving carelessly. Being responsible with your car and following the street signs breaks the stigma of luxury car owners being obnoxious. Additionally, while you may take care to protect your prized automobile, other motorists may not be as considerate. 

Therefore, when driving a luxury car, it is critical to follow all traffic laws and drive cautiously to protect yourself and your investment from the potential reckless actions of others. Even if the weather is perfect, the sun is shining, and there is no cloud in the entire sky, always be cautious of your surroundings when driving. 

5. Check the air pressure of your tyres

If you ride a car regularly, you probably understand how critical it is to check the air pressure of your tyres and balance the wheels at the same time. Maintaining optimum tyre air pressure is essential for extending the life of your tyres, providing a safe ride, and maximising fuel economy. Therefore, get the air pressure checked anytime you’re up at a fuel station. 

It should be second nature to check the air pressure in your tyres whenever you fill up your vehicle with petrol. The more you drive, the balder your tyres become, increasing the likelihood of an accident. Therefore, regularly check the air pressure and the vehicle’s current state to prevent further issues.

6. Contact a professional for a second opinion

It isn’t easy to diagnose a luxury car’s sophisticated system. Many people believe they can repair their own car and save money by doing so. However, this is very untrue, quite the opposite in fact. It may even end up costing you more. Thus, if you feel your car needs some repairs, you should contact a professional to help you fix it. The primary reason to engage with an experienced auto mechanic is that they have years of experience working on luxury vehicles.

7. Get a luxury car insurance 

Since luxury cars do not have standard features, they require special insurance. A luxury car insurance policy provides coverage that other types of policies, such as comprehensive or collision, frequently do not. Consider purchasing low-mileage coverage or increasing your deductible to receive affordable auto insurance for these types of automobiles. 

Tips For Starting And Operating A Profitable Automotive Trade Business

Posted on April 20, 2022 | by | Posted in Insurance

We have all dreamed of starting a business and being our own boss. Doing what you want, when you want, and how you want without having to follow orders definitely sounds like a dream. Furthermore, like everything else in life, being a business owner starts with coming up with proper and thorough planning. This stage includes the most crucial steps to help you create and maintain your desired line of trade. 

If you are considering starting your own automotive trade business, this article is for you. Not only will we give you an overview of how to get the ball rolling, but we will also reveal some tips that will help you grow a profitable company. 

Finalising the line of business

There are countless business ideas you can choose from, but it is ideal that you pursue one that you know and understand deeply. You should also be more specific with the operations you want to have. The automobile industry comprises a lot of business models, so you need to specify which one you will follow. 

For example, will you buy and sell automobiles or do repairs and replacements? Overall, it is imperative that you have a particular knowledge of the business you are to start to save you from stress. In addition, select the one you enjoy and that you’ve grown to love. 

Securing your capital

Sometimes, your line of business will be dependent on the availability of funds. Since the automobile trade industry involves pricey vehicles, you will definitely need to raise enough funds for your capital. In cases like this, you can apply for a loan from the bank or even ask for help from trusted family or friends. Some business owners also attempt to raise funds by seeking willing investors who believe in your company’s vision. 

Writing your business plan

A blueprint is required to build a house, and this is the same for businesses. Your business plan describes your company, its products or services, and how and to whom you will sell. It outlines how to market your company, grow it, reduce risks, and make money. 

Furthermore, this is helpful to keep you on track with your goals and objectives. You can use it to analyse your plan’s results and make appropriate adjustments. 

Knowing the laws and codes 

Being familiar with and knowing the different regulations, policies, standards and practices, warranty codes, and repair codes applicable in your jurisdiction is imperative when working in the motor trade industry. Knowing their ins and outs will help you avoid litigation and eventual lawsuit expenses. 

Getting insurance and trade license plate

It is also essential to apply for motor trade insurance. Not only is this a legal requirement, but it will also help you get covered from both public and employer liability. Furthermore, it will protect you from severe financial damages that you may face down the road. 

Matrix Insurance will create a motor trade insurance in Perth tailored to the Motor Trades industry and allows you to customise the coverage you require for your business. 

You should also apply for a trade license plate to save you from the hassle of registering and being taxed for every vehicle that comes in your possession. This is especially helpful when you sell, repair, and conduct test driving.

Knowing what cars to buy and sell

What we want can differ from what our clients want. Therefore, in planning what cars to sell, buy what you think your clients would love to own and not those of your personal preferences. Do your research to help you look for automobiles in demand in the market. 

You may also want to buy second-hand cars and then sell them. This is another business model that can help you gain a lot of profit. If this is something you want to pursue, you can learn from attending auctions. These events provide opportunities for you to observe and learn about the trade. 

Doing marketing and advertisements

Once you have set up your line of business, vision, brand, and target audience, it is time to market. Your customers are your lifeblood, so you should put a lot of effort into reaching and accommodating them. 

In any business you do, it is a must that you know how to advertise and attract clients. Once you acquire them, you should also know how to keep them coming back. 

Therefore, you should always have a budget for marketing and advertisements. Fortunately, there are a lot of ways you can do this. You can advertise online, in newspapers, in magazines, on TV or radio. If you want to keep up with social media, you can start by setting up a website or Facebook page. 

Additional tips on growing your motor trade business

1. Choose experienced marketers who know about sales, social media, copywriting, and branding.  
2. Keep track of your income and expenses. If possible, employ an accountant or utilise online accounting tools. 
3. Keep training and learning. Attend training and seminars to fill the gap on things you are not so adept with your motor trade business. 
4. Take other loans or financing options if you want to expand your business. However, choose those with the lowest risk. 

Overall, putting up a business is challenging and risky. This is not a smooth and upwards road filled with wins. There are a lot of growth and high-income opportunities in the automotive trade business. However, you first need to plan appropriately and ensure you are working with the best team. 

The Upside of Luxury Cars

Posted on March 24, 2022 | by | Posted in Insurance

When purchasing a new vehicle, you must make several considerations. One of these is the style and characteristics you desire. On this point, you might want to consider purchasing a luxury vehicle. There are numerous advantages to doing so. Continue reading to discover what the benefits are.

Newest Security Features

When you get into a car by yourself or with loved ones, you are speeding down the road far quicker than you can walk or ride a bike. Interactions with other automobiles and trucks necessitate driving cautiously. 

When you drive a luxury vehicle, you can be secure that you are as safe as possible. Paying a premium price for this type of vehicle usually means you’ll be driving with the most up-to-date safety features. 

According to studies, at least 71 per cent of vehicles with safety equipment such as side and front airbags, anti-lock brake systems, and traction control cost at least $40,000. More modern detectors, airbags and other safety measures create a more robust body structure. If you include these, you will have even have more protection in the event of an accident.

Automobile Technology Innovations

If you’re looking for a new car, you’ll notice that the luxury vehicles you look at are equipped with the most cutting-edge technology. Even if you decide to buy a model that is a few years old, it will most likely come with technology that isn’t available yet in mainstream models. 

Buying a secondhand luxury vehicle may typically ensure that you are working with the most up-to-date technology available. A good example is the Porsche 4-D Chassis Control system.

In previous years, regular automobiles have only recently offered these functions. For example, purchasing a luxury car means you have cooled and warmed front and rear seats. Also, driving a luxury automobile, such as a BMW or Lexus, means you can also have a heated steering wheel and other such features.

Excellent Workmanship

When you invest extra funds in a luxury car, you want it to transport you to your destinations in comfort, speed, and security. 

Choosing a premium car usually ensures that you get the performance you want. They boast the best suspension settings and engines with much higher displacements, better aerodynamics, and sharper steering.

If you’re looking for speed and efficiency, buying a premium car will usually provide you with these features. When experiencing heavy traffic in the city or rushing down a lonely highway, you’ll typically hear less noise from outside, and the ride will be considerably more comfortable.

Better Designed

Even if you buy an older, pre-owned luxury car, you’ll undoubtedly discover that it’s built better than most new mainstream automobiles. Driving a premium vehicle means higher-quality cushioning, softer leather, and top-notch stitching. Also, when you open and close the doors, you’ll feel like you’re holding something considerably more substantial than a standard automobile.

Several luxury vehicles also feature improved interior soundproofing. You’ll appreciate the thicker windows and a softer, higher-quality interior. 

Outstanding Value

Purchasing a new luxury automobile can be costly. However, if you locate one previously owned and has only a few miles on the odometer, the price may be far lower than a new model. Purchasing a luxury car that is a little older than the latest models can be significantly more inexpensive while still providing all of the features you like when searching for a vehicle. Taking advantage of the price drop caused by rapid depreciation in the first year or two can help you get an excellent car for a lower price.

Buying one lets you drive a comfy, high-performance vehicle at a price equivalent to a mainstream vehicle. Once the first depreciation shock has passed, this vehicle usually keeps its value very well. 

Improved image and status

When you see someone sporting a high-end automobile, you instantly think they’ve got it together. Spending money on a far more expensive vehicle usually means a high-income level. It’s possible that having this type of vehicle will improve your image and prestige. When people see you driving a premium car, they may subconsciously equate you with success. While this is unlikely to be the primary motivation for purchasing a BMW or Lexus, it can be entertaining to see people’s heads turn when you drive one.

Taking advantage of this aspect of human nature may appear shallow, but you shouldn’t be concerned if you act classy. It’s like putting on a beautiful outfit. You’re more likely to stand out and attract more attention.

Aesthetic features

If you’re looking for a standard vehicle, you’ll probably pick any design because there won’t be anything that will make you say “wow” while you’re looking at these vehicles. When buying a premium car, this factor is precisely the reverse. These automakers are experts in combining convenience, performance, and innovation into a visually appealing vehicle.

Horsepower and Consistent Quality

Another advantage of driving a BMW, Ferrari, Mercedes-Benz, or other luxury brand is that the quality remains consistent year after year. Even though it’s an older model, knowing you can trust a used luxury car’s engines, interior, and exterior features makes it well worth acquiring. These brands will often obtain flawless marks for factors linked to the interior or mechanical body.

A critical note to remember is that once you have one, you need to protect it well. Consider checking Matrix Insurance Group if you are looking for Perth based luxury car insurance providers. They can help you with everything that you need.