Let’s face it, most of us wouldn’t mind a luxurious ride. Some of us need an impressive whip for client-facing professions, or maybe you’d like to drive around in comfort and style while toting the kids to and fro. Realistically, though, luxury cars fall outside of affordable for most average incomes… unless you know how to find the right deals. Stunning cabins, impressive infotainment systems, and indulgent features can all be yours—you just know how to find the best bargains.
So how do you have it all and still stick to your budget? Read on for tips on how to get the best deals on luxury cars.
Do Your Due Diligence
A luxury car at an affordable price isn’t just going to fall in your lap. And you probably won’t find it right off your first internet search either. Set realistic expectations that you’re going to have put in the time scouring online, making calls, and visiting lots. Explore all of your local dealerships, from the Mercedes in Los Angeles to the BMW in Orange County. You might be shocked at how different the price tag may be between county to county. Like most things in life, your hard work will eventually pay off as long as you are patient.
Prioritize Your Extras
Sometimes what makes a luxury car so luxurious are the extra upgrades, so you can save money if you know what’s most valuable to you. Decide whether having a high-tech interior, extra-large rims, added legroom, etc., is a priority. When it comes to deciding on makes and models, you’ll need to choose whether size, speed, or comfort is most important. Once you figure that out, you can save money on the items that aren’t as important for you and your lifestyle. For example, luxury sedans are going to be more practical as far as price goes in comparison to a sportier trim or crossover SUV. This strategy can help you save money overall, unless shelling out for the upgrades is worth it to you. Pro tip: If the added bells and whistles are what you’re after, consider opting for an economy class vehicle and upgrading to the premium trim—you can experience a luxurious ride at a significantly cheaper cost.
Learn How to Negotiate
Mastering the art of negotiation will be critical when it comes to landing a great deal on a luxury car. As this Autos.com article notes, you’ll want to prepare by: having your finances pre-arranged, bringing your research on how much the vehicle is worth, and using their competitors’ prices against them. Take a copy of your driver’s license to avoid them holding on to it for leverage and don’t go inside to negotiate; “Once they have you in the office, you are right where they want you to be—on their turf. So avoid going into the sales manager’s office unless you have been offered a price that is reasonable and acceptable to you,” the article notes. In the end, you have to be willing and prepared to walk away if you’re not hearing the number you’re after. Negotiating is tough, but you need to be tougher.
Know Your Luxury Cars
The term “luxury car” has a pretty broad umbrella, which is reflected in the wide range of prices. If you can’t go for the most expensive luxury car, stay realistic and narrow your search parameters. Compare prices and see what’s hot in your local market. Buying an Audi A4 for sale in Las Vegas could cost much less than if you were to buy the same make and model in Ohio, for example. You can also take advantage of models that have been on the market for a while, as sellers are more likely to give you a deal on the factory price. As this AutoTrader.com article notes, “The Buick Enclave is a highly popular 3-row luxury crossover—and it’s been a favorite among shoppers since it first came out for the 2008 model year. But despite a much-needed refresh for 2013, the Enclave is getting older—and now, it’s gotten so old that Buick has started offering good incentives on the SUV virtually every single month.” A Buick Enclave might not be the top-of-the-line in terms of luxury, but the same concept applies across all makes.
Getting a luxury car at an affordable price can be a long game. Put in the time and follow these tips and you’ll be surprised at what you can get for your money.