If you’re a lover of beautiful things, you’ll no doubt find it impossible to watch luxury cars cruising down the street without wanting one for yourself. That dream vehicle might not be as far out of reach as you imagine – in fact, most people who drive them don’t own them outright. If you mean to try and buy one, however, you’ll need to be sensible in how you go about it so that you can enjoy luxury and still live within your means.
The right car for you
There will always be some people who dismiss the idea of a good quality car as something you can do without. In fact, that’s not necessarily the case. If you want to get ahead in some professions, what you drive really matters. It sends out a message about you, and in the long term, it can directly influence your earning capacity. This means that for some people, buying a luxury car is a practical investment.
Buying a car on finance
Unless you’re looking for an older model classic car, it’s generally not practical to seek to buy a luxury car outright. New models in particular are available on finance at rates that work out much better overall, especially if your deal includes extras like maintenance. This is traditionally arranged through a car dealer, but you will first need to talk to your bank or other lender to make sure that you have a clear line of credit available.
The credit check process
Getting through the process of checks on your credit can be frustrating. It’s important to understand that it’s there for your benefit. Responsible lenders will always do careful checks to make sure that you’ll be able to manage the payments on your car, because the last thing the lender wants is for it to be taken away from you. These days, most checks are computerized, which speeds the process up for the average customer but has the unfortunate downside of making it more difficult for others, such as people with irregular earnings, to qualify.
What to do if you’re turned down
If you’ve tried several different banks and finance companies and you still can’t get credit for the car you want, it’s time to reconsider your options. Could you get by with a more modest car? Do you have any assets you could cash in that mean less to you than the car you want? If neither of these apply, then it’s worth checking out companies like Autoloan, which specialize in bad credit car loans. By looking at your case on an individual basis instead of putting it through a computer, they can work out a way to get you the credit you need at an interest rate you can afford.
Throughout this process, it’s important to think about what you can afford – you don’t want to lose that beautiful new car as soon as you’ve got it. If you’re sensible about your limits, however, there’s no reason why you can’t enjoy a luxury car and make the kind of impression that can help you get to the top.