A Baby Boomers Guide to Buying a Sports Car
By Everette Jamison
Baby boomers make up one of the largest markets for sports cars today. This generation found itself buying cheap economy cars to get to work and back in their younger years, and had to settle for a bulky station wagon when the kids came along. Therefore, with an empty nest and some extra retirement money on hand, this group of people is finally able to purchase the sports cars that they have dreamed of owning their entire lives. There still remains the question though, of how to purchase the vehicle: cash or financing.
Sports cars, much like houses today, are in a buyers market. So already you have a bit of an advantage. That is, along as you are in pretty good financial shape. If you are doing well, then the best thing to do is to simply pay cash. This is the most inexpensive way to buy as you will not have to pay all of those financing fees. Of course, the baby boom generation is certainly used to making monthly payments, and they may find that their dream car can better fit into their budget this way.
Economists urge buyers to pay cash though. They state that buying cash is the preferred way of buying a sports car, financing is second, and leasing comes in a distant third. When buying cash for a vehicle, buyers are often given the choice of getting a rebate and discount financing. The rebate is almost always the best choice in matters such as this. If you have to finance your vehicle though, than the decision between a rebate and discount financing becomes more difficult. It is usually recommended however, that you take the rebate and find a way to arrange financing on your own.
Where do baby boomers stand when it comes to financing or paying cash? Currently this is split practically 50/50. There is also about 21 percent in these figures that prefer to lease their automobile. When it comes to purchasing a low end, medium end, or high end sports car, there are a lot of factors involved. Most high end sports cars are still out of reach of most baby boomers. So, the choice is usually between a medium end and a low end. In todays unsure economy, while most baby boomers opt for the medium end cars, they may want to hold off for now to see how things go. After all, there is not real rush unless your current car is kaput.
It is important that you spend your golden years in a sports car that you really want. Therefore, if you have the money, this is an expense that you can easily justify. Just make sure that you do your homework ahead of time. Decide whether paying cash, financing, or leasing is the best particular choice given your circumstances. Go buy the car you have always wanted, at this point in life you have earned it.
So what color and brand of sports car are you going to get?
About the author
For all your used car parts and used car engines needs look for the leader in parts, http://www.everdrive.com from http://www.FreeArticlesAndContent.com
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