Ready to go car shopping but worried that you won’t get a good deal? Here are some car buying strategies that will help you get in the car you want.
88 percent of Americans own at least one car. But how many of these drive the car they really want? Although there aren’t any official stats on this, you don’t have to be a statistician to know that most people drive convenience cars.
Sure, it doesn’t make economic sense to go out of your way and buy a car that will strain your budget, but that doesn’t mean you can’t drive the car you want. With excellent planning and the right strategies, you can acquire the ride of your dreams.
Continue reading to learn car buying strategies to get the car you want.
Identify Realistic Options
Who wouldn’t want to cruise around in a shiny sports car like the Lamborghini Aventador S? Or in a luxury SUV like a Rolls Royce Cullinan?
Unfortunately, unless you’re an extremely rich person, these cars are out of your range. This is why it’s essential to be realistic with your car options. Embrace the fact that there are cars you cannot afford, and then scale down your options to top, but reasonably-priced cars.
For most people, these are cars that cost anywhere from $30,000-$50,000 when spanking new. A 2019 Tesla Model 3, for instance, starts at $35,000, yet it’s unaffordable for most Americans. You want a car like this.
Get Your Money Right
Now that you know the car you want to buy, it’s time to talk about the money.
If you’re planning to buy in cash, ensure you have got the money ready. Perhaps you have been saving for years or you have a business that’s raking in good profits. Either way, you deserve a thumbs up, because the vast majority of Americans rely on auto loans.
And if you need bank financing, obtain an auto loan prequalification or preapproval before hitting the showrooms. This is important because you don’t want to select a car that costs more than the amount of money you’ll get loaned. Bear in mind you’ll also need to put down about 20 percent of the car’s value before getting approved for an auto loan.
Buy Used Instead of New
Most car buyers are obsessed with new cars, largely because they think used cars are inferior or prone to mechanical problems.
The truth is you can find a quality used car regardless of the model and trim you want. You just need to be keen when assessing and test-driving the car. Plus, used cars cost a lot cheaper than new cars.
This is to say, why spend about $70,000 on a brand new Audi A7 when you can snap up a used one at less than $20K?
Buying used is the most cost-effect way to end up with the car you want. And once you get it, be sure to use a reliable auto transport service provider to ship it to your location.
Car Buying Strategies That Work
For most people, a personal car is a basic need. It will make your life a lot more convenient. But this doesn’t mean you buy just about anything with four wheels.
Buying the car that you want will fill you with pride and you’ll enjoy driving it. And with the car buying strategies fleshed out above, you’re no doubt in a better position to get the car you want, not need!
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