7 Top Tips for Buying Your Dream Car Smartly

Watching your colleague swerve that fancy car in the parking lot may shatter your heart into a million pieces. Despite working so hard, most of us cannot afford our dream wheels.

You can blame it on advancing technologies or inflation, but getting hands-on with your personal car in this age seems impossible. What if we devise an action plan for you?

This blog provides you with seven tips that will enable you to afford the car you have always wished for. Let’s jump in and find out how!

Step # 1 – Set goals

Yes, goal-setting works beyond workplaces too.

The purchase of your dream car takes incredible conviction and constant reminders. There could be a whole list of needs and wants that you want to fulfill. 

It would be best if you analyzed where a car purchase stands.

Goal-setting to buy a car is similar to your plans when purchasing your new house or sending your kid to college. For example, determine the make, model, and price of the car you wish to buy. You should have it all in writing to create a strategy accordingly.

Also, understand that this car is an investment. It may lose value over time so examine the rate of its depreciation. And if you are buying a second-hand model, many variables will judge the price of the car. 

Do not jump at the first deal that you find online or at the local dealership. Instead, lay out the entire plan and then work your way towards achieving it.

Step # 2 – Apply your savings

If you have a dormant savings account that you haven’t used so far, it’s time to activate it again. If you have already saved some amount, buying a car is a fantastic way to apply those savings.

However, if you don’t have any money in the reserves, you can examine the best ways to get that amount. Start by analyzing your budget and how you can save some money from your everyday expenses.

For instance, most of us are habitual of getting our on-the-go coffees by the café around the corner. This often involves buying a cookie or a pastry as a sideline.

How about skipping this consumption? 

Instead of spending money on the coffee, that amount to your car fund. Those groggy morning hours are a price you are paying to afford your dream wheels.

Step # 3 – Raise your credit score

Since cars involve hefty payments, most of us don’t have cash lying around to pay upfront. Relying on diverse financial options has made getting our hands-on luxury wheels easier. Nonetheless, it also involves being vigilant about your financial situation.

If you have successfully maintained a good credit score, it gets you a much better rate on the money that you borrow. It makes the car cheaper for you in the long run. 

Keeping a good credit score involves paying bills on time and keeping the credit card functional. Closing a credit card extracts the credit limit out of your average. This can lead to a declining credit score.

Another option to keeping a good credit score is taking out a personal loan that helps you improve your credit. You can raise your credit score when you make timely payments and don’t pile up debts.

Step # 4 – Determine your limits

We all have that urge to splash hundreds of bucks on our dream car. Yet sometimes, we just need to stay within our boundaries.

It is pretty messy when you get the car of your dreams, but you are forced to sell it because it is beyond your purchasing power. One wrong decision could lead to a prolonged imbalance of budget.

On the other hand, if you work on your savings account and stay patient, you will be better financially. This process will take some time, but it is better to buy your dream car when you are strong financially.

Step # 5 – Look for surplus income sources

Working part-time is one way to earn more money. The times we are living in today demand that we work hard to ensure we don’t run out of money at the end of the month. 

The option of working beyond regular hours may be unavailable to some people. For example, those with a high-demanding job or a family that needs attention cannot work after-hours. Nonetheless, one should keep looking for ways to earn more income.

The increasing technological advancements make it easier for us to make money from home.

You can sell some products online or offer your services to digital marketing agencies. All of this requires learning skills to help you buy the car you have always dreamt of.

Step # 6 – Don’t swing at every ad

You may come across a few highly appealing car-selling ads. The process they define to get it may lure you into exploring it. We strongly suggest determining your dream wheels before you swing at such offers.

Keep all temptations away until you are entirely sure about the make and model of the car you want. Test-driving some vehicles may be exciting and compel you to go for it. But, if it isn’t the car you had in mind, don’t jump into the deal.

Stay patient and keep looking out for your pitch. The car of your dreams is out there and will pop at an appropriate time. Until then, keep saving for it!

Step # 7 – Know all the expenses waiting ahead

Once you have figured out how much goes into buying that car, it is time to do the other math. Take some time to calculate the expenses that tag along. This involves knowing about the gas expenses, loan payments, insurance payments, cleaning, and customizations.

It gets easier to plan and structure your future costs when you know all about what comes ahead.

Concluding Remarks

All of us have to work hard to make our dreams come true. There is no guilt in having materialistic desires and staying on your toes to achieve that.

We hope you all will eventually flash your dream wheels soon. Don’t forget to send us a cool boomerang when you finally get to do that!

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of

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