BMW is an emblem of success and status. They’re associated with executive driving, thanks to their comfortable interior, and sophisticated good looks. Unfortunately, BMWs don’t come cheap, and you’ll pay for the privilege. Especially when it comes to the brand new models. The price tags are often extortionate, and well out of your average family budget.
Don’t worry, we’ve got some handy tricks and techniques for getting your hands on a quality BMW. There are other ways to find an affordable model. There’s every chance you can find the money for a decent BMW, or any dream car. All you need is some creative thinking! Let’s take a look at some of the options available to you.
Lease it instead
When we think about getting behind the wheel of a new car, we always think of buying. But, have you considered the potential of leasing your new model instead? It’s often a much cheaper alternative, and you’ll get a brand new car as part of the deal. Leasing is a lot like a long-term hire agreement. You pay a deposit, followed by regular monthly payments. In exchange, you’ll get your hands on the BMW. After the contract term (typically two-three years), you’ll simply hand the keys back.
Buy second hand
The used car market is bursting with fantastic bargains. All you have to do is hunt them out! BMWs crop up all the time on the secondhand market. Start by visiting your local secondhand dealer, and seeing what’s out there. You can even search for a used BMW online, and get a rough idea of price. A three-year-old BMW will still offer a reliable option, so long as it has been well maintained. A quick clean, and it will look brand new!
Save a big deposit
While your dream car might seem a long way out of reach, there is a way to make it more affordable. If you can hold off for a little longer, it’s worth saving up the biggest possible deposit you can afford. Whether you buy, lease, or finance the car, a big deposit will always get you a better deal. It will reduce those monthly payments, and put you in a better bargaining position. That BMW seems a lot more affordable when you have a nice pot of money to put down in advance.
Here’s the big secret: very few BMW owners own their cars outright. Any expensive car is usually bought using a finance option. Drivers use either a loan option from the car dealer, or borrow money from their bank. A bank loan is usually the best option. However, you can discuss certain finance deals with the dealers themselves. A popular choice is the ‘hire purchase’ option. This is a series of small monthly payments every month until you pay back the full balance. The car is only yours when you pay the final installment.
As you can see, there are plenty of easy ways to afford your dream BMW! Don’t write it off just yet. Start doing your research, and see what’s out there.