Are you looking to treat yourself and buy a luxury car? Well, the process is a little different from buying a normal car. Because luxury cars are so much more expensive than standard cars, you need to walk into the showroom armed with information if you want to get a good deal. Here’s a beginner’s guide to purchasing a luxury car.
Know how to negotiate
Buying a luxury car is expensive. That means you are in a good position to negotiate. A luxury dealership will have to make fewer sales per month than a standard dealership. That means each sale is more important. When you arrive at the dealership, you should have an idea of how much you’re willing to spend, what extras you want, and a low-ball price to start with. If you go to the dealership at the end of the month, they are more likely to negotiate with you because they need to make up monthly quotas.
Do your research
You should know everything you can about a luxury car before you buy it. Ask the dealership or manufacturer for the brochures, watch any YouTube videos you can find, and read reviews of the car. Luxury cars come with a lot of optional extras and choices to make. You don’t want to make these decisions on the spot.
Ask yourself what you need
When buying a luxury car, it’s easy to get carried away and go for the top model. But do you really need the most expensive and fastest version? What does it have that the cheaper models don’t have? A car that does 0-60mph in 4 seconds won’t feel much different from a car that does it in 4.5 seconds. If you choose a smaller engine model, you can spend the extra money kitting it out with extras.
Buy a luxury vehicle online
If you’re 100% sure which luxury car you want, you will probably be able to find it cheaper online. Car dealerships that sell luxury car have to make money on each car they sell, so they put a ‘markup’ on the price. Avoid this and buy from a private seller online.
Get a diagnostic scan
If you’re buying a used luxury car, it’s worth doing a diagnostic scan of the car. This is a cheap way of finding out any potential problems with the car’s electronic and sensor network. It’s also worth getting an independent mechanic to look at the car if you don’t feel confident about the purchase.
Try leasing the car first
Not sure what luxury car you want? Why not lease a couple and see which one you like best? If you’re about to drop a huge amount of money on a luxury car, you want to know that you’re going to love it. It’s worth this extra investment to make sure.
Consider an off-lease vehicle
Some people lease luxury vehicles for a short amount of time then send them back. Buy one of these off-lease vehicles, and you could save a lot of money. The car will only have a few thousand miles on the clock but will cost a lot less than a new vehicle.