Luxury Car Dealership

Getting the best luxury vehicle for your money

Shopping for a luxury vehicle is much different than buying a car at your average dealership. The dealers are accustomed to certain types of people, and they may be inclined to turn you away if you don't fit the bill. There is also a lot more money involved in the purchase of a luxury vehicle, which can be overwhelming. To ensure that buying your first luxury car is a pleasurable experience, take a look at these helpful tips:

• Shop financing first - Before you can buy a luxury vehicle, you need to make sure that you can afford the pricing. Even if you get a great deal on a car, you'll still need great financing. Look into credit unions and bank loans before shopping for a car. And never buy into the dealer's financing without checking out your alternatives. The dealer will try to give you the highest rates possible.

• Get an insurance quote before buying - Insurance costs are often forgotten by the anxious car buyer. Sports cars and high-performance vehicles are a lot more expensive to insure than your average family sedan. Get an insurance quote for your potential car and factor that cost into your budget before you commit to buy.
• Select a car carefully - If you're planning on having it for only a couple years, then you will want to consider the depreciation rates. Find out which types of vehicles hold their value better. The average depreciation rate is about 20 percent per year. Buying a luxury vehicle that is only a couple years old could save you a lot of money upon purchase because cars lose most of their value in the first few years. When choosing a car, you should also consider the cost for maintenance and parts. Some luxury vehicles are expensive to service.
• Capture the dealer's attention - A luxury dealer is all about money, so to gain their interest, you need to look like money, whether you have it or not. Pull into the dealership in your friend's Beemer and visibly wear a blackberry, and you shouldn't have a problem. If you show up in a beater truck, wearing holey sweats, then you'll probably be turned away at the door. Once luxury dealers realize you're an intelligent customer who is seriously looking for a vehicle, then they'll generally treat you better than other dealers - no games and no scams. There tends to be a lot of respect involved in high-dollar purchases. Lexus in particular will treat you like royalty before and after the sale.
• Focus on getting the best price - Never walk into the dealership and talk monthly payments, because you'll end up getting a long-term loan that you won't be able to afford in the end (see below). Instead, focus on the total cost of the vehicle and lowest possible financing and then worry about the monthly payments. Also know the value of your trade-in if you have one.
• Avoid a six-year loan - Dealers push a six-year loan with low monthly payments to talk you into buying an expensive car that you otherwise wouldn't be able to afford. However, once you factor in interest rates, you'll end up paying a lot more than the car is worth. If six-year loans are the only way you can afford a luxury vehicle, then buy a less expensive model.

It used to be we could depend on the reputation and reliability of North American cars to meet our standards - but could it be the times are changing? Here in the U.S., overseas models are continuing to rise in popularity. Find out why!

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