Is It Better to Buy the Exact Model Used Car You Want or the New Car You Can Afford?


Is It Better to Buy the Exact Model Used Car You Want or the New Car You Can Afford?

When deciding which car to purchase, you might be wondering which direction you should go. Should you buy the exact car you want or the one that you know you can afford? For most people, there are some cars that will be out of their price range. But you may be surprised to learn that many of the cars you would like to drive might be in your price range after all. The real trick is to explore your finance options. Let's explore some of the steps you can take that might just get you behind your dream car!

Tip One: Consider Used Options

At the top of the list of options you will want to consider is the used car option. You might just discover that you can buy a one-year old model of the exact car you want instead of opting for a car that you are "settling for" instead. With a little research and working with the right car dealership, you might not have to settle at all.

Tip Two: Work with Your Car Dealership

Just as there are options for those that have bad credit issues, there are also a wide variety of car financing options in general. Car financing is remarkably diverse, and you shouldn't worry if you don't understand every little aspect of car financing. Instead, work with your car dealership and ask lots of questions. Simply begin by telling them what car you are interested in and the learn more about your options. Longer payments, for example, might put you behind the wheel of the car you really want.

Tip Three: Are You Sure You Can't Afford Your Dream Car?

Maybe you can afford your dream car if you just change your way of thinking. For example, what if you could afford your dream car simply by not selecting all the options available?

But what if you subtract all the options and you still can't afford your dream car? This doesn't necessarily mean your search is over, as you still have the used route. Your car dealer might just be able to find the car you want that is a year or two old without most of the options on it. In this way, you could potentially still get behind the wheel of the car you desire.

In the last few years, surveys have shown that the top "dream cars" among Baby Boomers included the following:

  • Chevrolet Corvette
  • Mercedes Benz M Class and the Mercedes Benz SL
  • Volvo C70
  • Land Rover LR 2
  • Porsche Boxter

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