How to Afford a Luxury Car Without Breaking the Bank

It is something that any car enthusiast has dreamed done: stopped and stared at a luxury car and wished they could trade in their current commuter car for a more plush model. Your standard 1.4 litre engine may get you to work fine, but the thrill of driving a high-end car would make your commute that bit more bearable.

The good news is, that affording a luxury car may not be as out of reach as you think. If you are smart, do your research and know where to look, you could upgrade to something a little more luxurious. Here are some ways to get a luxury car without breaking the bank.

Buy Used, Not New

When you think of buying a luxury car, you may picture a highly-waxed vehicle inside a shiny, glass-fronted dealership. However, buying a new car directly from the dealership carries a large price tag, something that many simply cannot afford. Instead of purchasing new from the factory, consider buying a used luxury car. Purchasing second-hand from the likes of RRG Group Ltd means you can still get a bigger engine, heated leather seats and all of the mod cons, but for a fraction of the original price. You also avoid the car depreciating up to 34.6% during its first year on the road.

Make Money From Your Car

When looking a buy a luxury car, you think of the horse power or comfy leather seats, but also think about how your car can work for you. If you are on a budget or looking to minimise financial impact, there are ways you can make money from your car. This includes: listing on a car share website and charging passengers to share your daily commute; branding your car with company advertisements, offering taxi or transport services, or even renting out during the day while you are in the office.

Affordable Payments

If used is not for you, then consider all of the finance options. There are loads of ways to pay for your car in monthly instalments, spreading the cost and making a luxury car more affordable. This includes a personal loan, hire purchase (HP), a personal contract plan (PCP), or even leasing options. In addition, if your car is to be shared between yourself and your spouse, or perhaps another family member, you could consider splitting the purchase price and running costs, meaning you both get a luxury car for a fraction of the cost.

Buying a luxury car does not have to break the bank. By choosing used, making money from your vehicle, or signing up to an affordable payment plan, you can own your dream car without breaking the bank.