When you’re sitting down and having a chat with an exotic car owner, your conversation might not be want you want to know. You’ll hear them declare the incredible power of their vehicle, how fast it does 0 to 60, the comfort of sliding onto the seats and the cutting edge gadgetry.
All those features make owning an exotic car like being on a magic carpet – but you’ve heard them too many times. Sometimes, you just want to get to know something new.
Well, this is an exclusive write up where we’re offering you an inside look.
Keep reading to know the 5 secrets to owning your dream car:
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1.) BUYING YOUR EXOTIC CAR - TIMING IS OF ESSENCEIf you buy an exotic car at just the RIGHT time, it can pay off significantly. If you catch your dealer at the perfect time, you might be able to save thousands of dollars when making the transaction for your new car. Almost every exotic car sales representative works on a commission basis. This may be a percentage of sales price or a regular rate that is paid per vehicle sold. Everyone – starting from the salesperson to the manager of finance – in a dealership is assigned a set of goals and quotas. So all you have to do is understand how a dealer operates and then secure your car when they’re very eager to close any sales to meet or exceed goals assigned to them. Generally, it is believed that despite strong sales during the year’s 11 months, dealers try pushing cars in December. However, the secret is, professional sales persons do not plan on waiting till December in order to meet their goals. They make an effort every single day of the year to convert their prospective leads into buyers. These interim personal goals turn out to be extremely beneficial for buyers. At the day’s end, everyone at the dealership is planning to leave and go home. However, letting a customer with serious potential leave on account of the lights being turned off or the doors about to be shut is not the practice of a smart salesperson. If a sales person believes you are a serious buyer he or she is dealing with, you can negotiate a strong deal despite the lateness of the hour. Dealerships tend to operate on a monthly cycle and will measure sales during the same interval. In these cases, you can lock in a great deal for your exotic car at the month’s end.
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2.) BUYING AN EXOTIC CAR AT AN AUCTIONImagine being able to discover an exotic car of your dreams being sold for a fraction of its retail value. Car auctions present the opportunity to purchase exotic cars in an exciting environment where you technically set the price for the car. Just as with any buying setting, you’re obviously advised to do some homework for what your top pick should be. Sherriff sales are also a great chance to get the car you’ve always dreamt of because these vehicles have usually been impounded or seized. At the end of the day, the cars have to be sold at a price; you can be the decider of that price and drive home in an exotic car. There are basically two major types of car auctions that are open to the public: Public Car Auctions and Government Auctions.
Government Car AuctionsThese auctions are inclusive of city and country vehicles such as buses, utility trucks, police cruisers, etc. Listings also include cars from impound lots that may have been seized on account of violating traffic and being involved in some crime. Although it is true that a large number of cars are impounded because of criminal activities, they are not always of the exotic variety. This means that in order for you to stumble upon your preferred Mustang or a Lamborghini, you have to sort through a number of vehicles. But patience will help you win the game, so keep searching. It’ll come to you as no surprise that hardened criminals such as drug dealers and gang leaders enjoy driving in some of the finest cars. Of course, crime never pays, but you can take advantage of criminals being arrested and leaving behind their valuable cars for the police to auction. If you’re a beginner, you can pursue your dream by visiting the U.S. Treasury Department's, the General Services Administration’s and the IRS’ websites to find information on seized vehicles and their auctions. You will uncover information such as vehicles available, auction dates and more importantly, the steps of the bidding and buying process.
Public Car AuctionsThese auctions comprise of vehicles that have been repossessed by banks, a fleet of cars up for wholesale, some long due trade-ins and at times an exotic car. Public, private-party or business car auctions are generally sporadic in nature and they do not follow a schedule. Therefore, to attract the largest crowd, these auctions are advertised well in local classifieds and online. If you’re willing to put in the effort and time and if you’re fairly confident about your knowledge in cars, then car auctions will definitely provide you with the thrill of the chase you’re looking for. It may take you some time to find your perfect exotic car, but when you do the investigation, bidding will be worth it.
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3.) REBUILT TITLELet’s say that a car was involved in an accident and was declared as a total loss by the insurance company on account of the damage it sustained. The car is stripped of its “clean” title and returned with a “salvage” title instead. This salvage title alerts the car’s potential buyers of the accident and that the car may be unsafe for driving purposes. Subsequently, the car will be fixed and the salvage title will be replaced by a “rebuilt” title. In a majority of cases, the rebuilt title is awarded once the car has been repaired and an inspection has been carried out by the state or by the title issuing jurisdiction. So more often than not, these cars are completely fine to own and drive. You could make your dream into reality by buying an exotic car that has a rebuilt title and land a complete steal! Exotic cars with rebuilt titles usually have an affordable price tag – buyers tend to find these cars low-priced. Foremost, you should start by trying to understand the kind of damage the car has sustained and how. This enables you to find out if the damage was severe for the integrity of the car’s structure. For example, if the vehicle was exposed to water damage, it will have suffered irreparable damage to its electrical components and there is an ongoing risk of mold development. Therefore, cars damaged by water should be avoided. However, say that an exotic car was involved in a front-end collision at a relatively low speed, and instead of the previous owner filing a claim for insurance to get it fixed, decided to claim total insurance on it and receive its full value. In such a situation, the car is claimed as totaled, but in reality the damage may not be too bad. If you find an exotic car of your choice that has been rebuilt and you are interested in it, you should do the following. Primarily, understand that in order to take advantage of a rebuilt title you need to disregard any idea of reselling the car. You will be driving the car till the end of its useful life as it has absolutely no or negligible resale value. Next, have your dream car thoroughly examined by a trustworthy and competent mechanic. This will provide you expert opinion about the damage to the car and how well it has been repaired, if it is road worthy and if it meets your state’s required safety and emission standards. Finally, shop around for insurance and ensure that you will be offered a policy for your exotic car with the rebuilt title. You can use the title in your favor and land an insurance company that offers lower premium in return for the reduced value.
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4.) BUYING ON ONLINE SELLING PLATFORMSGiven how the internet has taken over almost every aspect of our modern day lives, why should buying cars be any different? A large majority of dealerships tend to have an internet sales department and there are many other online platforms offering to sell cars. You can now research and subsequently negotiate to buy your preferred exotic car right from your bedroom. You are a knowledgeable customer with ease of access to online tools such as Manufacturer’s Suggested Retail Price, the invoice price, financing methods, expert advice and user reviews. You are definitely in control since the balance of power is in your favor. You should research variables such as what the seller wants you to pay, how much he or she may have purchased the car for, the invoice price, etc. Next, compare the offers that you have from a variety of dealerships and develop a suitable price range. You will then be able to identify the best deals on offer. When you are purchasing a car online, you can always inquire the options and fees that have been added to the car’s price. You can ensure fees such as destination charges, documentation fees and irrelevant add-ons are not included in your quote. Aside from the obvious benefits of comparison shopping, a wider range of selection, the reviews from other users and saving time – online shopping offers better, affordable prices. If you keep scanning the internet, you are likely to come across online-only auctions. Additionally, a dealership will provide “bargain days” where you can enjoy savings of a thousand dollars or more on account of unbelievable prices. Dealerships are looking to clear their current inventory of cars from a previous season and may have a one-off clearance sale which can help you be theproud owner of an exotic car.
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5.) TAXI AROUNDYou may have bought the exotic car of your dreams on the best deal available. You probably paid a fraction of its retail price at the most affordable of dealerships. Yet, now your biggest worry is paying it off or at least having the same kind of liquidity you had before you brought the vehicle. How do you make this work? You can always join a taxi or a limousine service using your exotic car. You could even sign up with some event organizers or party planners who may look for an exotic car ride in accordance with a theme their client requires. You will obviously require a special license for commercial driving purposes as your current driving license will not qualify. Transportation services tend to pay well on an average. Also, you can always expect to charge a slightly higher rate than regular taxis because you are offering your passenger the once-in-a-while ride. Obviously, you shouldn’t forget the seating limitation on your exotic car as most are built for seating only the driver and a passenger. Additionally, if you are the resident of an area that is frequented by tourists, you can serve as a tourist guide over the weekend. Quite a few tourists will line up to hail a ride in an exotic car while getting a detailed tour by a local. You could plan out a route that involves visiting all the local attractions and provide your passenger the insider’s guide that isn’t available in a guide book. You could use the internet to your advantage in this case where you could advertise your car rides and also make a social media profile for your car rides. It is always good to generate publicity around your business, the internet provides a medium to generate an additional buzz.
THE LAST WORDYou no longer have to cast eyes coveting the Ferrari or Lamborghini in your office car park or while waiting for the valet to bring your car. At the end of the day, we hope that you now feel that since you’re interested in buying and owning an exotic car, you may be able to do so at a lower price tag. If you’re willing to spend some time and put in extra effort, you may find that tracking down your dream car and possessing it isn’t all that difficult and will not put the kind of dent in your wallet that you thought it would. You could sit through car auctions, buy a car with a rebuilt title or even sift through online listings. Eventually, when you’re lounging in the style, luxury, comfort and prestige of your exotic car – all your efforts will definitely be worth it. Photo Source: Flickr, Wikimedia, & Pixabay
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