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We all have a vehicle in mind when we think of a ‘dream car’. Some of us might think of lavish Ferraris and Lamborghinis. Others might think of a family vehicle that simply doesn’t break down every time you start it up. We all have our definitions, but one common trait remains: they’re all expensive. Unfortunately, that’s just the nature of any vehicle purchase. There are things we can do to bring the cost down, though, and that’s what we’re focusing on today.
Cash Or Lease?
Here’s the first question you need to ask yourself. If you’re willing to pay cash outright for your dream car, you’re going to need some serious funds. While buying outright can be the better option, leasing also presents its share of benefits. It all depends on how long you’re hoping to keep the car, and the amount of maintenance that it might need. Ultimately, you’re still going to have to make regular payments, but the financial sting might not be so sharp.
Search The Used Car Markets
Yeah, I know you want to buy your dream car from new. But, it’s rarely the best idea, and it all comes down to a term called ‘depreciation’. It depends on the car you buy, but you can bet that your car will lose its value relatively quickly after you’ve bought it from new. The same goes for others who have done the same, meaning that you can get a bargain off of the used car market. It might only be two years old-or-so, and you’ll save a nice chunk of money in the process.
Boost Your Cash With A Loan
You want to afford your dream car? I doubt you’ve got that kind of money just sitting in the bank waiting for a rainy day, right? This is where we often look to loans to boost our funds and make that all-important purchase. Usually, this is also the point where those with bad credit admit defeat. That doesn’t have to happen, as there are plenty of personal loans out there for those in a tough credit position. Just be sure that you can make those payments back, and you’ll be all set.
Beware Of Old Car Trade-In Schemes
You know those schemes you’ve seen on adverts and the internet? They’re the ones that allow you to click a few buttons and get instant cash for your car. Be careful with them. I’m not saying they’re all bad because that certainly isn’t the case. However, some of them offer a much lower price than what you could get by selling privately. You need all the funds you can get right now, and a little more hassle is surely worth it?
What About An Auction?
You’re rolling the dice with this, but it might be another avenue for you to explore. You never really know what you’re getting at an auction. It’s beneficial to expand your knowledge in this area before you make a purchase, so talk to experienced car dealers beforehand. Ultimately, it’s a risk, but it’s one that you might be willing to take.