How to afford a prestige car

If you, like many other people, would like to be able to own a prestige car at some point in the future, then you might have started to put a lot of thought into how you might be able to afford it. Of course, there aren’t many people who are just able to walk straight into the showroom and buy one, so this means that people need to think about ways in which they might be able to afford the car. We have put together a list of tips that should help you, and this will allow you to realise that your dream car might not be as far out of your reach as you might have thought in the past.
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Get it on finance

A lot of people buy cars on finance now, which means that they spread the cost over up to around five years. This makes prestige cars much more affordable, as it means that you can pay monthly for the vehicle that you get. Often, things like servicing and insurance will be included in the deal, which means that you don’t have this added expense – so it’s always worth factoring this into your considerations.

Save up monthly from your wages

If you’re patient, and you don’t mind waiting for a few years, then you can put aside a little money each month until you have enough to buy your car. This means that you will be putting aside something out of every wage, similar to the finance option, but you will be saving any interest that you would otherwise have had to pay. This means that you will have to wait a little longer before owning the car, but you will save money overall, so it is up to you to decide just how much it matters to you.

Cash in a pension scheme

If you’re over 55, then you may find that you are able to cash in certain pension schemes that you have been paying into your whole life. If you know that you’re going to get a good pension from your employer, and your mortgage is all paid off, then you may wish to use your private pension pot to buy your prestige vehicle. If you feel as if you’d like to treat yourself, there is no better time!

Extend your mortgage

If you already have a large mortgage, then it might not make too much of a difference to add the cost of a prestige vehicle onto it. It is always worth asking your bank about this, as it may work out cheaper than having to take out finance, and it means that you would be able to get the car straight away.

So, no matter what kind of car you are looking for, you should find that there is an option that enables you to get it sooner than you might think. This is great news, and is something to look forward to, so there is no better time to start considering your options.