AUTOMOBILE

How to Save Money on a Luxury Car

Pretty much any car can get you from one place to another, but once you have experienced driving a luxury car surrounded by comfort and tons of amazing features, it can be difficult to go back to driving a standard car. However, luxury cars do not come cheap, and you can expect to pay tens of thousands of pounds to get your hands on even a second-hand one. But if you are set on purchasing a luxury car for yourself such as a Porsche, Ferrari, Bentley or a Jaguar, the good news is that there are some things that you can do to try and drive the price down and get a better deal. 

Shop Around

Remember that the more expensive the car, the more profit the dealership will be making – so be prepared to shop around and do some negotiating as you look for your next luxury car. If you are buying from a dealership, this is going to mean negotiating how much profit they are going to make, so they’re never going to go any lower than the price that they paid for it. While you shop around, make sure that you carefully read all the fine prints in any advertisements and that you’re clear on what’s included in the advertised price. A good place to start shopping around is online; many dealerships like CC Specialist Cars, where you can find used car sales in Dukinfield, have a website displaying their luxury cars on sale, prices and more information. 

Time it Right

It’s worth remembering that many car dealerships have monthly sales goals and quotas that sales staff will need to meet. Most car salespeople have a goal of selling a certain amount of cars per month, and there will sometimes be bonuses in place to incentivise them, meaning that if you go at the end of the month to buy your new luxury car, you might be in with a chance of being able to negotiate the price lower as the salesperson may want to simply make that sale and meet their monthly goal. The time of year that you buy a luxury car might also help you get a bargain; March to May is a good time to start looking since this is the time of year when many manufacturers start bringing out new car models, leaving dealerships putting more cars on sale at cheaper prices to clear out old stock. 

Consider a Lease

In general, leasing your luxury car might be a better financial move even though you do not own the car compared to buying it outright or on finance. You can also find lease-to-buy deals where at the end of the lease, you have the option to either swap out your car for a new lease or own it outright. Since cars – even luxury cars – lose a lot of their value every year, leasing is becoming a better option for most people since you can get that new car feeling every few years without making a huge loss when trying to sell your old vehicle. 

Buy Used

Since brand new cars will lose their value the moment you drive them away from the dealership, it’s no surprise that more and more people are opting to buy used cars. With used cars, you can sometimes get a car that has been barely driven at a much cheaper price compared to brand new simply because it has been slightly used. Depending on the age of the car that you buy, it may still be covered by the manufacturer’s warranty – and if there’s only a small number of miles on the clock, it’s likely to still drive, feel, and look like a brand-new car. 

Get a Broker

If you are serious about finding the luxury car of your dreams to buy, then you might want to consider working with a broker. A broker is somebody who you can outsource all the shopping around and comparisons to, and one who is highly experienced with luxury cars will be able to help you save time on finding the right luxury car for you along with potentially helping you save money since many brokers work closely with dealerships and have strong working relationships with car auctions. 

Shop Around for Insurance

Don’t forget that the cost of insuring a luxury car will also usually be higher compared to insuring a regular car since these cars are more expensive to repair or replace if you are involved in an accident. Start shopping around for car insurance early since the earlier you get your insurance, the cheaper it will usually be. Along with this, consider any other factors that are impacting your car insurance and if there are any ways to reduce the cost, such as driving less or parking your car in a safer place. 

Buying a luxury car is certainly not a cheap experience, but with the right strategies, there are plenty of ways to save some money. 

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