Hot Tips for Buying Luxury Cars

March 18, 2013

When shopping for high-end cars, you should know that buying luxury cars is much the same as buying less expensive cars--except that they're much more expensive. Luxury cars are usually those vehicles that cost more than $30,000. Luxury cars are, obviously, out of reach for many consumers and are generally regarded to be of better quality or offer better performance, a smoother ride or simply offer many high-end accessories are options. So, if you're looking to buy a luxury car you should try to save as much money as you possibly can. Therefore, here is a short list of tips that will help you save money when shopping for a new luxury vehicle.

Find the Dealer Cost

While many less expensive new vehicles don't offer a lot of profit margin for most car dealerships, luxury vehicles are a different story altogether. Luxury vehicles usually enable the new car dealership earn a lot of money. Therefore, you should always know what the dealer invoice price is on any luxury vehicle that you're thinking of buying. You can find the dealer invoice cost at websites like they Kelley Blue Book or Edmunds. At these websites, you can quickly find the dealer invoice cost on any luxury vehicle available. You can use the dealer invoice price to negotiate a better selling price with the dealer. Remember, if the dealer makes any profit at all--they will usually take the deal.

Consider Off Lease Vehicles

If purchasing a vehicle that's a couple of years old is an option for you, you may be able to find luxury vehicles that are off lease and available for sale at a much lower price than the original manufacturer's suggested retail price. Many times, people lease luxury vehicles for very short terms and then return the vehicle to the leasing company. Many times, these vehicles are auctioned off and sold to use car dealerships at very low prices. So, an off lease vehicle will generally result in saving you thousands of dollars over a new car of the exact same model.

Luxury Car Lease Options

If you don't have a lot of cash, but you want a new luxury vehicle--then consider leasing one. Leasing will generally allow you to get into a luxury vehicle with little or no down payment, and your monthly payments will always be much lower than with a luxury vehicle purchase.

In fact, many reports state that almost half of all luxury vehicles in the United States are leased rather than purchased. By leasing a luxury vehicle, you'll often make monthly car payments that are not too much more than with car purchase payments on a less expensive car. Furthermore, you will generally have the option of only keeping the vehicle 2 or 3 years.

Other Money Saving Tips

Just like with any other car, you should always use good negotiation strategies when purchasing a new car. Often times your most effective negotiating tool will be simply walking away from the dealership if the dealership does not offer your price that you're happy with. Also, check out as many dealerships or sources as possible for a luxury car that you're interested in. You should also check Internet car shopping sites as well as look for advertised specials in your local newspaper. If you are diligent and patient, you can almost always find an excellent deal on a luxury vehicle.