When seeking their dream cars, a lot of people tend to overlook all the possibilities they may have at their disposal, simply stating: “I can’t buy that, it’s too expensive.”
But is your dream really unattainable? Many times we don’t even realize how many options and resources we have at our disposal when it comes to finding the perfect car, as well as financing and buying it at the best possible price.
Get a Clear Picture of What You Want
The first thing you need is a clear and detailed picture of exactly what the vehicle of your dreams will look like and what its abilities/specifications may be. Are you interested in a specific brand or model? Or are you looking for just a certain type of vehicle – such as a sports car that gets to 100mph under 5 seconds regardless of the manufacturer?
All dreams are valid and all – or at least a lot of them – can be attained; but you need to put all the information about the car you want on paper, and figure out exactly how much you’d be willing to alter that image. Do you really need the fastest or most powerful engine, or a car built by a specific brand?
Chances are that even if you had your heart set on a certain model, if you look hard enough, you may be able to find alternatives that are cheaper or better than what you first had in mind.
The next step is to actually visit the location of different dealers, look up ads in newspapers and online, or visit manufacturers’ and dealers’ websites to find your preferred vehicle and get a feel of the pricing range it’s available in.
Sometimes, you’ll find that a somewhat older model may be available at a far better cost, or that some dealers offer better prices and financing options than others. It’s important to be thorough when gathering and comparing all that data, since you don’t know what you’ll eventually find.
Consider Your Budget and Financing Options
You don’t always need to have the whole price of your dream car available as cash when you set out to buy it. For smaller, less powerful or older vehicles, that may be possible, but when you’re considering a car or SUV worth more than $50,000, it might be stretching it a little.
The good news is you have a lot of good financing options to consider:
Dealers work with a lot of lenders and can find you a good enough deal pretty fast if you talk to them about it.
Banks, credit unions and online lenders can give you better interest rates and overall better deals than dealers. Also, you get better flexibility when it comes to pre-approved solutions.
Leasing allows you to get expensive or CPO vehicles without a substantial investment. At the end of your lease, you can either turn in the vehicle or add some money and purchase it.
In some instances, you may be surprised to learn that even an extravagant sports car can be found at a lower price than what you’d expect. Under these circumstances, it’s definitely worth doing some extra research, comparing specs and prices between different models and getting to know all your potential choices before making a decision.