Tips for Affording a New Car

2013 SRT Viper

One of the hottest cars to hit the market this year is the SRT Viper that comes fully equipped with a V10 engine, Bluetooth capability, gorgeous bucket seats, and has been remade this year to incorporate a little bit of luxury with its fast engine.  It’s the car that a lot of people have been waiting for and anyone who looks on SRT’s website will see that the starting price of this magnetic vehicle is just under one hundred thousand dollars.  Though it’s well worth the price tag, this still means most people are going to have to put some thought into saving up for it.

If you haven’t already, it’s time to look into employing the services of a reputable independent financial advisor who will help you get to your goal of this great car.  Advisors are great because they do a lot of the work for you.  They’ll be able to look into your finances including your income versus what’s being spent, and put you on the right track to saving up the money and getting you to where you need to be.

After the advisor has set you up with a reachable budget, make sure you stick to it.  In general, it’s recommended that people put a certain amount toward their savings every week or at the very least every paycheck.  To be disciplined about it, any time you miss a week of savings, you’ll need to double down next time.  Because of this, a lot of people fall off the wagon just after one mishap.

Make sure you look into not only your own bank but other banks as well when it comes to putting money away into your savings account.  Try to find the accounts that yield the highest interest rates since you’ll be pretty much getting free money just for saving up toward your dream car.

Before you start putting everything away for the SRT Viper, make sure you read the fine print on any of the savings accounts you have.  Some banks put an interest limit on larger amounts of savings (PNC Bank lowers the earned interest when your savings account reaches twenty-five thousand dollars), so you might need to spread the money around if you’re looking to really earn the best interest rates.

Also keep in mind that the more money you put down toward the car immediately, the more you’ll be able to save in the monthly payments later on.  So it really is worth looking at interest rates since it will end up saving you money later on, especially when you consider you’ll be paying interest on the total amount of the car that’s left to pay off. Using a cost of living calculator is great for this kind of stuff.

When you’re ready to actually buy the Viper, put on your best negotiation face.  Car dealers are, underneath it all, salesmen and they’re the best kind of salesmen at that, which means they’re going to haggle.  If you learn to haggle back, not only do you run the chance of catching them off-guard, but you could actually end up with a better financing deal.

To get this beautiful car parked in your garage, you’re going to need to do some work, most of which requires a bit of discipline.  But it can definitely be done and when you’re finished, you’ll be glad you put in the effort.