Luxury motoring on a budget; bagging the car you really want and how to do it

We all want a dream car, don’t we? The thought of pulling into a car park in a motor that turns heads and gets people pointing; that chatter with fellow employees about how beautifully it drives; and even the simple trip to the shops, are all occasions that make you feel good about life. The good news is that there are a number of tried and tested methods that you can employ to get the car you really desire – such as the ones below.

Leasing a new car

What do you want?

The first and most obvious question.

If you’re after a new Lamborghini or Bugatti, then you’d better start saving early or buying those lottery tickets.

However, unless only a genuine supercar will do there are plenty of second-hand options available that will not rip open your wallet.

Look carefully and be patient and you may be able to find a Ferrari for around £40,000 or a Porsche 911 for as little as £10,000. A spectacular 4-litre TVR Chimaera could be around £15,000, while you could even bag an Aston Martin DB7 for £20,000, albeit one with 100,000 miles on the clock.

When?

Best brand new car

There’s a big difference between immediately demanding the best brand new car, and doing your research.

Do you need the new model right now?

Or can you wait a year or so before a newer version takes its place – driving down its value at the same time.

Certain models will hold their value better than others, such as Land Rover, Jeep, Tesla and Mercedes-Benz, but even these cars can expect to lose 25% or more of their value in just a year, so you might wish to just wait 24-36 months and pick up a nearly-new second hand model for a lot less.

Another aspect to consider is the time of the year; traders have deadlines to meet and that might involve dropping the prices of new models, particularly when bonuses are up for grabs. Money Saving Expert digs further into the science of wise buying times here.

Optional extras

Do you need the most powerful engine? Is it mandatory to get the latest DAB technology system, and metallic paint?

How about cruise control, and a sat nav?

While you can’t go below a basic standalone price for a car, you can defer the multiple additions and attractions that give the vehicle that extra veneer of quality but are hardly mandatory – and save yourself a grand or two.

How do you want to pay?

How do you want to pay?

With a good financial record and a hefty deposit in the bank, you’ve got the options of buying on credit or leasing a desirable car such as an Audi, BMW, Mercedes or Porsche.

The initial rental on a lease may be several months’ rent cost, but you’re only effectively paying for the depreciation of the car.

Remember that buying the car on credit from the dealer will most likely incur a high APR, while arranging a loan through your bank could be a lot cheaper.

Also, don’t forget your current car, and selling it privately.

Part-exchange is a hassle-free option, but not one that will get you the best deal or even market value, so be prudent with your decisions and look around.

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