Purchase One of Today’s Most Popular Dream Cars With These Strategies
In a report published by USA Today, the top-10 dream cars among survey respondents were as follows: 1. Mustang, 2. Tesla Model S, 3. Jeep Wrangler, 4. Corvette, 5. Camaro, 6. Tesla Model X, 7. Charger Hellcat, 8. Toyota Prius, 9. Range Rover, and 10. Honda Accord. Whether you prefer luxury cars or sporty vehicles with all the bells and whistles, almost everyone dreams of owning a premium car at one point or another. Due to the premium price tag that accompanies these vehicles, most individuals give up on their goal of ever owning one in favor of other purchases. However, many still long for the day that they’ll get behind the wheel of their dream ride.
Can’t stop thinking about owning your favorite vehicle? Here are four strategies that almost anyone can use to make buying their dream car a reality.
Compare vehicle loans from multiple sources
When financing a big purchase such as a vehicle, don’t settle for the first loan offer you receive. Everyone has a unique financial situation, and outside lenders may have a better deal waiting for you. For example, if your personal bank offers car loans, they may offer you preferred interest rates for being an existing customer. Alternatively, if you typically apply for loans with outside lenders, explore what your dealership has to offer. Depending on the time of year, some dealerships are able to offer customers 0% financing for a period of time, even without perfect credit.
Buying a pre-owned vehicle will always save you thousands, plain and simple. Despite the common misconception, pre-owned cars, trucks, and SUVs are not of lower quality when purchased from a reliable source. In the case of vehicles that are considered to be “dream” cars (i.e. high end luxury), you can even save tens of thousands of dollars by purchasing a vehicle that is a few years old with low mileage.
Trade-in an existing vehicle
Rather than adding your dream car to your existing vehicles, consider trading in your current vehicle to instantly create a massive downpayment. Rather than purchasing a third or fourth car (which most people do not need), give up a vehicle that could be replaced with your new car. This is an excellent way to add thousands to what you’ve already saved.
Ask about special incentives
When buying your dream car, every discount matters. That’s why it pays (literally) to inquire about any added discounts for which you qualify. Students, recent graduates, and those who are in the military are frequently eligible for additional discounts. Also, depending on where you are employed, you may qualify for bonus corporate discounts.
If you’re finally ready to buy your dream car, there are plenty of ways to make the purchase more affordable. By comparing multiple loan offers, buying pre-owned, trading in your existing vehicle, and asking about special incentives, you can significantly reduce the final cost of your chosen vehicle.