Buying your dream car should never be rushed since this is probably one of the most expensive items you will buy in your lifetime. In fact, you need to make sure that you are making the right choice and buying a car that suits your needs.
Basically, there are a lot of things you must look into and it’s important that you take enough time to consider all your options. Sadly, people seldom look at the differences in purchasing a dream car and what it takes to maintain it in a good condition.
So before you get caught up in the idea of cruising around in your dream car, it’s important that you understand some critical things about luxury cars.
Just because you are purchasing a high-end car doesn’t mean that it will be reliabile. The truth is that many cars depreciate so rapidly because they’re not the most reliable cars out there, and come with expensive repairs. Same token, if someone didn’t take care of their car, it could come back to haunt you down the line.
While you should absolutely get the car inspected by a mechanic before signing on the dotted line, the truth is that it will probably have some issues over time. As such, it’s important to make sure that a premium vehicle comes with a good warranty otherwise you will be digging deep into your pocket to cover the cost of repairs.
If you’re buying a foreign car, be prepared to pay more in the long-term. Because even if your vehicle was built here in the US, spare parts may have to shipped from overseas, which can get costly when you factor in shipping and taxes. That’s why it’s not uncommon to hear people talking about how their luxury car is sitting in a garage for several weeks while waiting for an important part to arrive.
If you dig deeper into the automobile industry, you will realize that car companies make more money from selling spare parts than from the actual car sales. This is because most car parts are sold at a premium and vehicle owners have no choice but to buy when a car breaks down.
Do you want a new or a used car?
If you know anything about new cars, you probably understand that driving a new car off the showroom makes it lose a few thousands in resale value. If your ego can allow it, why not let someone else take the depreciation hit and buy it down the line?
The best time to buy a used car is when the economy is doing well since most people rush to buy new vehicles. This makes the prices of used cars to be significantly lower. But when doing this, you should consider getting a car that is still covered by its factory warranty.
At the same time, try to work with a reputable dealer who has been doing business for a long time. It is always important to avoid dealers with no track record, as they will leave you with tons of regret if/when the car breaks down.
What is the best time to make a purchase?
With most used cars, pricing is determined by the seasons. For instance, buying a convertible in the summer will cost you a lot more than it would during other seasons. At the same time, a 4WD truck is likely more expensive when it starts to snow than if you bought it during the summer. For pickups, contractors are grabbing them in the spring, which makes the demand go up. As such, if you buy when the car out of season, you can end up saving a lot of money.
For most new cars, the prices can be greatly influenced by fuel prices. When fuel prices shoot up, most people will rush to purchase hybrids since they don’t want to spend a lot of money on gas. If this happens, you should run in the opposite direction and get yourself an SUV. In addition, try not to show the salespeople at the dealership that you are in love with a specific car, because they can and will use that knowledge against you.
Figure out your budget
This is the most important aspect when getting your dream car. If you really love that Ferrari but you can barely meet the payment requirements, you may be setting yourself up for ugly debts. When considering your budget for a car, take some time to think about the available options to finance the purchase. If you have some significant cash with you at the moment, you can opt to make a down payment and then be left with affordable down payments.
You can talk with your bank and see if they can offer you a good deal with their car loans. At the same time, you can get an online auto repair loan where the collateral will be the car you have purchased. Nevertheless, you need to ensure that you are in good financial standing to afford the loan payments.
Alternatively, you can decide to lease the vehicle for a couple of years and you can end up saving a lot of money.
While you might be obsessed with a specific car, it’s always important to consider everything that make the car great, and not just make an emotional decision in the spur of the moment. Sure, it might look good and be priced right, but look deeper and make sure you’re making an informed decision. Otherwise, you could be in for a rude awakening down the line.
How To Know When It’s Time To Get A New Family Car
Whether you have a sensible sedan, a standard minivan, or a versatile SUV, you place a lot of trust in your family car. However, no matter how reliable your vehicle is, you’ll have to replace it with a new model eventually. How do know when it’s the right time to upgrade? Here are some of the top signs it’s a good time to buy a new family car.
1. You’re Paying Expensive Repair Costs
No matter how well you look after your vehicle, time, wear and tear, and age eventually take their toll. When you find yourself having to make minor repairs often or taking your car into the shop several times a year for substantial and expensive fixes, it may be time to consider moving on.
Keeping a car past its prime can cost a lot of money in terms of repair costs. Older cars are generally less efficient as well, so you could be overspending on gas. Mileage is another important factor to consider. Some makes and models can be reliable past 200,000 miles, whereas others become unstable before this milestone. Do some research on your car to determine how likely it is that you’ll run into constant problems if you continue driving it.
2. Your Family Is Growing
Your compact car may have worked fine when you had your first child, but squeezing multiple car seats in the back can be a challenge. If your family is growing in number, or simply growing up, chances are you have more car seats, luggage, backpacks, and sports gear you need to fit in your vehicle. If you’re constantly trying to maneuver things around to make riding in your car comfortable, it may be time to consider an upgrade.
If you choose to upgrade your family car, you can look forward to several benefits beyond just having more space. Newer cars generally have more features, and models designed for families (such as minivans) may have numerous helpful additions. You may find that having a new car with more cupholders, configurable seats, automatic doors, and entertainment systems makes your time driving with the family exponentially more comfortable.
3. You’re Moving to a Different Location
If you are moving to a place with a drastically different climate, it could be wise to buy a new family car. For example, if you’re moving to a sunny coastal climate, you may want to trade in your four-wheel-drive for something smaller and more efficient. Alternately, if you’re moving to a mountain state, it’s probably a good idea to consider switching your convertible out for a reliable and maneuverable SUV.
4. You’re Financially Ready
One of the most challenging parts of upgrading your family car is the financial burden. Whether you buy new or used, chances are taking home a new vehicle will require paying a hefty chunk of cash or signing a big loan. Either way, your personal financial status plays a large part in deciding when it’s time to buy a new car.
However, you can look at it the other way as well. If you are in a good financial spot with excellent credit and a comfortable safety net in the bank, you may want to think about investing in a new car. Buying at a time when you can afford a large down payment and qualify for a favorable loan can make more financial sense than waiting until repairs force you to buy a new car quickly. If you wait, you may not be in such sound financial waters as you are now.
Being able to afford a new car or qualify for a good loan also gives you the flexibility to choose the best option for your family. Maybe you want to move to an electric car to save money on gas and help the environment. Perhaps you want to get an SUV to make it easier and safer to spend weekends camping in the mountains. When you have the time and resources to do all the research and choose the best model for your family, it can take a lot of stress out of the whole process.
Deciding when to upgrade your family car can require a lot of thought. However, there are some standard signs that can indicate it’s time to start considering a new vehicle. Mounting repair costs can make it financially more affordable to get a new car. You may also want to consider upgrading when you’re in a good financial spot with the assets to either pay cash or secure a favorable loan.
The 2019 BMW M850i xDrive Coupe Will Set You Back $111,900
Last month, BMW unveiled the long-awaited 8 Series Coupe to the delight of enthusiasts from around the world, who have been waiting nearly two decades for the Bavarian car company to bring back the iconic luxury sports coupe.
BMW gave us a full run-down on the the 2019 BMW M850i xDrive Coupe, which is powered by a new twin-turbocharged 4.4-liter V-8 that puts out 523 horsepower and 553 pound-feet of torque, launching the car from 0-60 mph in 3.6 seconds, on its way to a top speed of 155 mph.
The BMW M850i is equipped with xDrive rear-biased intelligent all-wheel drive, mated to an eight-speed Steptronic Sport automatic transmission that has been updated with wider ratios and sportier gear shifts. Standard performance features include M Sport brakes and Adaptive M suspension with Active-Roll Stabilization.
Standard equipment on the BMW M850i xDrive Coupe includes Full LED headlights with BMW LaserLight technology, BMW Individual Merino leather seats, BMW Live Cockpit Professional, a 16-speaker Harman Kardon audio system, and more.
That all sounds great, but how much will it cost?
The 2019 BMW M850i xDrive Coupe starts will start at $111,900 plus a $995 Destination and Handling fee, with cars arriving in dealerships nationwide on December 8th.
Naturally, BMW has a plethora of options to push that sticker price much higher, including an optional Driving Assistant Professional, a 1,400 watt Bowers & Wilkins Diamond Surround Sound system, a carbon fiber exterior trim package, just to name a few.
The 2019 Dodge Challenger SRT Hellcat Redeye Is The Demon’s Spawn
As you’ve probably heard, the Dodge Challenger SRT Demon has already reached the end of its limited-production run, with 3,300 of them produced in less than a year.
Missed out on your chance to purchase one? Well today is your lucky day, because Dodge/SRT just unveiled the 2019 Dodge Challenger SRT Hellcat Redeye today, a slightly less powerful Demon spawn, with “only” 797 horsepower and 707 pound-feet of torque, with an eight-speed automatic transmission as the only option.
The Hellcat Redeye will rocket from 0-60 in 3.4 seconds, run the quarter-mile in 10.8 seconds at 131 mph, with a top speed of 203 mph, earning it the bragging rights as the “most powerful production V8” and “quickest production muscle car” currently in production.
Needless to say, the Mustang Shelby GT500 is going to struggle keeping up with this bad boy. Same with the Corvette ZR1, which comes up short with 755 horsepower.
Like its Demon brethren, the Hellcat Redeye has 25 major component upgrades, including a larger supercharger, strengthened connecting rods and pistons, high-speed valve train, fuel injection system and improved lubrication system.
It also has the Torque Reserve system that delivers up to 3.9 psi of boost at launch and up to 55% more engine torque, along with the SRT Power Chiller and After-Run Chiller (which use the air conditioning system to cool the intercooler and reduce engine temps).
And new for 2019, the Redeye offers two final drive ratios, a standard 2.62:1 or an available 3.09:1 for enhanced launch capabilities. Helping put all that power to the ground is a high-strength steel prop shafts and 41-spline half shafts, both of which increase torque capacity.
Furthermore, the SRT Hellcat Redeye is available with the Demon’s Widebody package, which allows for some meatier tires (275mm on the standard body cars, 305mm on the widebody cars). That extra rubber helps shave off 0.3 seconds in the 1/4 mile (10.8s vs 11.1s), so to us it seems like a no-brainer. It also looks pretty bad-ass.
No word on pricing just yet, but expect it to fall somewhere between the Hellcat and Demon. And if that ends up being too rich for your blood, you can always go with a “normal” Hellcat, which gets a modest power bump to 717 horsepower and 656 lb-ft of torque.
The 2019 Challenger lineup will roar into dealerships in the fourth quarter of 2018, so you’d better start saving your money now.