Are you itching to get behind the wheel of a luxury car? Driving a vehicle with premium features and next-level performance is different.

However, luxury cars also come with premium price tags. The good news is there are tried and actual techniques you can use to get the best possible price without compromising on the luxury experience. 

Buying a Luxury Car Requires Strategy

When buying a luxury car, you must do more than can't just walk onto a dealer's lot and start negotiating. These transactions require research, timing, and negotiation strategies tailored to luxury vehicles.

Without the right approach, you could pay way above market value to drive your dream car off the lot. 

We know how frustrating and complex the luxury car buying process can be. You may have your heart set on a specific make and model but not want to pay the right amount.

Or you know you deserve to ride in style but don't know where to start. How do you make sure you get the best bang for your buck?

6 Techniques for Luxury Car Savings 

Follow these six techniques, and you'll maximize your buying power, scoring significant savings on your luxury ride:

1.Purchase at the Right Time

Timing is everything when it comes to car buying. For luxury vehicles, certain times of year present prime opportunities for significant bargains. Generally speaking, the best luxury deals happen:

Salespeople and dealerships often have strict quarterly quotas to hit. The end of a financial quarter is your chance to take advantage as they slash prices to move inventory.

When new model-year vehicles hit the lot, previous-year models become outdated. Take advantage of this as dealers discount older models to make room.

2.Leverage Incentives and Rebates 

Luxury automakers and dealerships regularly offer purchase incentives, rebates and promotional financing to drive buyers into the showroom.

Research available offers before starting negotiations. Then, use them for additional leverage, letting the dealer know you expect sale prices to reflect any applicable savings. 

Sites like Edmunds make finding the latest incentives on your target make/model easy.

3.Get Pre-Approved Financing

Only negotiate or make a luxury purchase once you've secured outside financing. Getting pre-approved before visiting the dealer strengthens your position dramatically while protecting yourself from overpaying.

Come armed with your financing terms and strongly resist dealer financing no matter how aggressively they push it. 

4.Negotiate the Vehicle Price First

Many buyers need to avoid negotiating monthly payments rather than vehicle sale prices. Dealers can lower monthly costs in many ways while keeping your overall price high.

Always negotiate the price of the car itself before discussing financing. Push for concrete sale prices versus monthly payment numbers during your negotiation.

5.Master the Art of the Luxury Deal

Negotiating for a luxury vehicle differs significantly from a standard mainstream car. You'll need to adjust your approach for a luxury purchase, including:

Use pricing sources like Edmunds to determine fair purchase prices based on options, mileage, and condition. Know where dealer margins are.

Only negotiate luxury deals at the end of the month when quotas loom, and salespeople feel pressure. You'll gain significant leverage. 

6.Keep the Momentum Up

Many buyers make the mistake of leaving the dealership to "think it over" when they get close to a deal, stalling momentum. Maintain urgency until the very end.

Make it clear that significant savings are necessary to drive off the lot today in your new luxury ride, then keep pushing for those final price concessions.

Losing momentum can cause you to lose serious money in the final stages.

Conclusion

You now understand why it takes a tactical, informed approach to lock down an incredible luxury vehicle deal.

But now that you're armed with insider secrets on securing significant savings, what are you waiting for? 

Forge ahead on buying your lush new ride, putting these luxury car negotiation techniques to work as you push for the best pricing.

Maintain discipline through every step of the process, from pre-approval financing to mastering incentive timing, and soon you'll land the price you deserve.