Not every dream car is obtainable, but one version of the brand often is. Perhaps you are a lover of Mercedes. Though on a budget you probably couldn’t afford its supercharged sports series, there are many other makes and models that can give you the look and feel of your dream car at a price you can afford – that is, if you know how to negotiate and budget correctly.
Aside from your home, your car can be the second biggest investment you make in your life. Unlike your home, however, its value will immediately decrease due to depreciation the moment you drive it out of the dealership. You can put this trait to your advantage, however, and by following these tips you too can be driving home in your dream car today:
Ways You Can Afford Your Dream Car Today
There are a few ways that you can afford a more expensive model with a modest budget. Some top methods include:
Buy Used
The used vehicle market is huge, which offers those in the mid-range budget a wealth of opportunities. In it, you could buy a Mercedes that is only a few years old that ticks all of your boxes for tens of thousands in discounts.
It’s a whole new world out there, but there are things you want to be careful of. For example, when buying from a private seller, you will want to inspect the vehicle beforehand. This will mean inspecting it yourself, test driving, and even taking it to a trusted mechanic to have further tests done. Having it professionally inspected could end up saving you a lot of money in the long-term, which is why it can often be better to buy a certified used vehicle from a dealership.
Many people trade in their vehicles in order to get a good deal on a newer model. You can take advantage of this and buy a used model that is only a few years old, and thus provides you with all the top safety features and even the warranty you are looking for.
Lease
Leasing a vehicle is a perfectly acceptable option if you are only going to be in the country for a short while (for instance, on a temporary work visa) or if you have the incentive to change models every year or two. However, it is not the most cost-effective option in the long term.
Buy an Older Model
You can also buy brand new, just not the newest model. In many cases, this means huge discounts on a great vehicle that is often only slightly different than the newest model.
How to Reduce the Price on Your Dream Car
To reduce the price of any vehicle you find and want to buy, there are a few negotiating tips you need to know. Read them below:
Do Your Research (MSRP)
When going to a dealership to buy new (or even used) you will want to know the MSRP. The MSRP stands for the Manufacturer’s Suggested Retail Price, and it is what the manufacturer suggests dealers sell their vehicles for. It is not, however, a guarantee. In most cases you should be able to negotiate lower than the MSRP, so learn it before you go to give you more negotiating power.
Go at the Right Time
The end of the fiscal quarter or year is a great time to go to get a great deal. Very often dealerships and salespeople work on a commission basis. If they are below their quota, they can be tempted to sell for lower just to keep their numbers up, but only if the clock is ticking.
Be Patient and Keep an Eye Out
Above all else, remember to be ready to walk away if the price isn’t right. Hold out for that perfect price on your dream vehicle, and be ready to pounce on a deal as soon as you find one. To do this you will want to have the down deposit ready, and even a pre-approved loan.
Factor in Running Costs
Finally, remember that running costs will become an issue. If you are tempted to buy one model because it is a good price, but its running costs will end up costing you more than the slightly more expensive option, go for the latter. Always consider how much a vehicle will cost you in the long run. If you pay a few hundred more up front, you could end up saving thousands in fuel.