Luxury Cars

Driving fine expensive cars isn’t for everybody, because luxury is usually associated with a high price tag. But if you are savvy and disciplined, and know how to work the system, the price tag can be eliminated completely. That’s right. You can drive $40,000 to a $80,000 car absolutely free. All you have to have is excellent credit rating, and some simple negotiation skills. In this article I will share the technique that can put you in to a Lexus or 7 Series BMW without spending a dime of your own money.
The basic concept is simple. You use 0%APR credit, to buy a slightly used luxury cars at a good price, and then sell it 6 to 12 months later for the same price, pay off your credit, and do the same thing all over again. It doesn’t get any better then that - you drive nice, expensive, luxury cars, and pay nothing for it.
First, you need to apply for credit cards that have 0%APR for the first 12 months, have no annual fee, and offer high credit limits. Apply for as many as you can at once, so if some banks turn you down, others will extend you decent credit. To get the good deals you must have excellent credit rating, which means no bankruptcies within last ten years, no recent late payments, and little or no outstanding debt. You credit score should be over 700. You can find some of the best credit card offers online at http://www.apply4-creditcard.com
Once your credit cards arrive in the mail, you are ready to find yourself a good buy. The goal is to find a good used luxury car and pay a good price. Buying from a private party is the way to go, but auto-dealers have good deals too. Do your homework to make sure that you are buying the make and model that holds its value better. This can be done by checking the value of a certain model when it is new and when it is a few year old, and comparing with data from other makes and models. In general, Japanese luxury cars hold their value better then German or American luxury cars. Refer to Kelley Blue Book for values at http://www.kbb.com .You need to be able to negotiate a price that is somewhere between a Private Party Value and Trade-In value. Make sure you do your due diligence, and check the car for major problems and review its Carfax history at http://www.carfax.com .
Once you pick your car, you must be able to buy it using your credit cards. Most dealership accept credit cards, but most likely you will be able to find a better deal from a private party, and most people don’t have the ability to accept credit cards. What do you do? You need to be able to convince your seller to accept credit card payment via Paypal. Such and account can be opened at http://www.paypal.com. Seller will be charged a small fee, 2% or so to cash the money. If the deal is good enough, you can offer to pay the Paypal fees. Some credit cards will have a per transaction, per day limit, and in that case, you may need to split your payment in to multiple transactions. Make sure that you check with your local DMV for proper title transfer procedures.
Once you bought your car, you can drive it for six to twelve months. Make sure to get insurance. Try not to put too many miles on the car, and not to add any new dings to the body, because in 6 to 12 months, you will need to be able to sell it for the same price that you paid when you bought it. If you have done your homework this shouldn’t be a problem.
For the time that you will have the car, you will have to make minimum payments on your credit cards, but since you got 0%APR the payments will be applied towards reducing your balance. Make sure you manage to make your payments on time. Your credit scores may be affected for the time that you have high balances on your credit cards.
After six months, you should probably start looking for a buyer for your car. Once you sell the car, take the proceeds and pay off all of your credit cards and you should have the same amount of money left over as you paid in your monthly payments. Your credit scores will jump up once your credit cards are paid off. You may want to cancel some of your credit cards, so that you don’t have too much available credit, but make sure you keep at least three to five accounts open. Once that is done, you are ready to do the same thing all over again. You may want to look at a different car, or just get a later model.
A few things to keep in mind when working this system is not to fall in to a credit card trap. Credit card companies offer introductory 0% APR because they know that most people may not want to pay off the balance in full by the time the introductory period ends. To successfully execute this system, you need to be disciplined. Make sure not to fall in love with your car and to decide to keep it. If you do decide to keep it, make sure you refinance your balances at a low fixed rate. Also, once you sell your car, make sure that you use the money to pay off the credit cards, and not to buy a Hawaii vocation for the family, or remodel your kitchen. Having a lot of cash on your hands can do weird things with your mind. Again, be disciplined.
This can be easy and fun. Eventually you should be able to save up enough money to buy a car of your dreams and pay for it in cash.