7 Tips for Buying Your First Luxury Car

You did it – you landed that high-paying consultant job, or maybe you finally made partner, or got the massive payout from that lawsuit that’s lasted ages. What better way to reward yourself than by buying a gorgeous, eye-catching luxury car? Remember, there are some important factors that you should keep in mind when buying your first luxury car. Take a look at these 7 things to consider.

  1. Are you buying new or used? Just because it’s a luxury car doesn’t mean you can’t be sensible about upfront cost. Used luxury cars can be a great deal, often being much cheaper than their new counterparts for a car just a year or two older. This is definitely something to consider when you’re first in the market for a luxury car.
  2. Know your seller. It’s important that you know and trust the place where you’re buying your car. Luxury vehicles are a large investment, and you want to be comfortable with the people who you’re making a deal with. It’s important to start by shopping locally at places embedded in your community. If you live in southern Nevada, consider an Audi Las Vegas dealership. If you live in New England, try looking for a dealership in your state.
  3. Pay attention to resale value. Some luxury cars have much better resale value than others. The next time you get a raise and want an even nicer luxury car, you’re going to want to sell your existing one. Make sure you get the most that you can for it! Of course, if the car you just have to have isn’t one that usually resells well, that’s understandable; it’s just another factor to consider.
  4. Make sure your credit score is great. Buying a luxury car with a terrible credit score will saddle you with a hefty and frustrating interest rate – and at the prices many luxury vehicles go for, interest rates are even more important to consider. Try using an online credit score checker to ensure that you have the credit needed for a low interest rate. Another thing to consider in this area, be aware of the fact that most banks and credit unions can offer you a much better financing plan than any in-house financing offered by your dealership. Having a bank loan ready to go also helps your ability to negotiate when the time comes, as you’ll be able to pay up front.
  5. What’s your style? Okay, once you’ve done your homework, you get to think about the fun stuff. What kind of luxury car person are you? Are you cruising down the 101 in a brand-new Tesla, taking in the Las Vegas nightlife in your Audi, or impressing the boys at the rodeo in your massive Ford Raptor? Remember that a luxury car is a huge part of your image; you’ll want to be sure that you craft that image the way that best suits you.
  6. Pay attention to features. Are you a tech-lover who needs the latest gadgets built into their luxury ride? Many newer models come equipped with GPS, touch screen interfaces, surround sound stereo, as well as rear bumper cameras, automatic collision protection, and loads of other safety features. Luxury cars aren’t exactly known for their frugal fuel economy, but there are still plenty of hybrid and electric luxury models to choose from. Definitely know ahead of time what tricked out features your new ride must have.
  7. Remember to negotiate and stick to your budget. It can be easy to get carried away by the thrill of luxury car-buying. But remember, when you find yourself in that dealership, it’s important to stick to your guns and not go too far over-budget. Be sure that the pace of the negotiations are comfortable for you too. You might find yourself in negotiations after completing a test drive, and signing paperwork a blink of an eye after that. Remember to slow down and take time. Tell the dealer that you need a day or two to mull things over. Then, come back and be better prepared to negotiate.

Keep these tips in mind, and remember to have fun and drive safe out there on the roads in your new luxury ride!

~ by velofinds on August 6, 2019.

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