Your First Exotic Car: A Buying Guide
Once you’ve decided to take the plunge and purchase your first exotic car, there are a few things you can do to make the process go a little more smoothly. It will also help ensure that you get something you will be happy with (and no nasty surprises!). Our handy exotic car buying guide will tell you what you need to know.
Set Your Budget
This may seem like a no-brainer, but the fact of the matter is, many people rush into the car buying process without giving a thought to what their budget can handle. You have to consider the down payment, monthly payments, insurance, and maintenance. You need to know that there’s room in your budget for these expenses. Tools like our Quick Quote will help you determine monthly payments making budgeting a breeze.
Do a Little Research on Cars You Like
Not sure if you want a McLaren or an Aston Martin? Wondering if that Porsche 911 is something you’ll want to drive every day? How much does it cost to maintain a Lamborghini? Research exotic cars that interest you. Look at features, read reviews from other people who own cars like the ones you like, and watch a few YouTube videos on them (that’s the fun part!). Once you narrow it down to one or two models you’re ready to roll.
Drive Some Cars You’re Interested In
If you’re still not sure which cars you want, take a test drive to get some behind the wheel experience to help you make your decision. If you have found a car you are interested in buying, a test drive is definitely in order. This gives you the opportunity to get a real feel for the car, how it handles, how comfortable it is, and how quiet – or noisy – the cabin is, among other things. Be honest. Don’t jump on the purchase just because you want that car. Really take the time to assess it and decide if it is a good fit for you.
Inspect Before Buying
It is best if you can see the car in person before you buy. Look at the condition of the paint. Has it ever had paintwork done? Are there places where the paint doesn’t quite match? That could be old damage and filler could have been used then painted over. If you tap that area, it will sound different from the rest of the car body if filler was indeed used. Also check under the wheel wells and look underneath the car for signs of rust.
Review the Car’s History
This is important! Both private sellers and dealers should be able to provide you with information on the car’s history. Ask for:
- Autocheck Report and Carfax Report
- Documents on any warranty repair
- All maintenance documents/receipts
If something doesn’t look quite right, question it. If you aren’t satisfied with the answers, move on.
Be on the Lookout for Red Flags
If you see any of these red flags, at the very least probe deeper. But if your Spidey senses say run, then say thank you and walk away:
- Seller wants you to buy the car sight unseen or can’t seem to coordinate with you to view the car
- Seller wants a deposit from you before you see the car
- Excessive service records
- Car has had paintwork
- The car has had more than two owners
- Service records show that the car went in more than once for the same problem
- No records on annual maintenance or service
- Accident (look for body or frame damage)
If any of these issues pop up, question them. If you aren’t satisfied with the answers, then the car probably isn’t for you no matter how great it is or how right the price tag.
Have a Mechanic Check it Out
It never hurts to have a mechanic give the car a good once over. After all, you are shelling out a lot of money for it. It never hurts to make sure you are getting what you are paying for. The mechanic will check the overall condition of the car including the brakes, transmission, tires, clutch, and engine as well as other parts of the system. If you aren’t the gearhead type, then putting it in the hands of a pro will help you make a more secure purchase.
Because once you drive her home, she’s yours.
Woodside Credit can help make your first exotic car purchase go smoothly. Contact us today to learn more about our low rates and easy terms. Exotic, classic, and collector car financing are all we do. We’re pretty good at it. Let’s get started.