Your dream car is one that is luxury incarnate, but that doesn’t necessarily mean it cannot be the car you need as well. If you are a parent, of course, it is advisable that you wait until after the kids move out and start lives of their own to invest in a luxury vehicle of your own. Your daily expenses won’t be so high, so you can better manage any repayment system you have. Just because you can better manage it budget-wise, however, does not mean that you should not strive to get the best deal possible. Everything is negotiable when you are in a position to negotiate, which is why before you go to the dealership, you should first follow these top tips:

Improve Your Credit Score

Before you can start picking out your car or dreaming about driving it, you need to build up your credit. Even if your credit is okay, you need it to be the best it can possibly be. This is particularly true if your credit score has been less than ideal in the past. Not only do you need to build up your credit score, but you also need to understand how the money-lending industry works. How is credit card interest calculated? How is your credit score determined? The answers to these questions can help you better your spending habits and make real steps towards a great credit score that will help you finance your dream car.

Get Pre-Approved for a Loan

Once you have improved your credit score, start shopping for a loan. The better the deal, the easier it will be to make the repayments for your dream car. Further, by getting pre-approved for a loan, you will have more negotiating power in the future, thus improving your chances of reducing the total cost and making the overall repayment plan more attractive to you.

Choose the Right Vehicle

The one issue with your dream car is that it is often an emotional decision. That is why you do need to be a bit open about the final decision. You can choose a similar model that is less expensive, for example, or you can choose a more middle-market model from the brand you love. Either way, your vehicle needs to suit your needs as well. Otherwise, you won’t drive and won’t get the most out of it.

New Vs. Used

Another benefit to being flexible with the exact model of your vehicle is that you open up your chances to find a great used car. The term ‘used’ is completely relative. When the vehicle you are looking at has barely been driven and is only a few years old, it is a steal. That is because cars have some of the highest depreciation rates out there, and opting for a used vehicle can help you avoid the harshest brunt of that depreciation.

If you have your heart set on a particular model, of course, new is the way to go. You will have the full warranty and the ability to customize your vehicle to your specifications. 

Always Negotiate, Negotiate, Negotiate

Finally, remember to negotiate. Nothing is ever set in stone, and if you are willing to fight for it, you can often get a much better deal than you ever thought you could. Simply try, and if it doesn’t work out, go back near the end of the quarter or the year. The salesperson could be tempted to make that one extra sale and give you a great deal to make it happen.