New Exotic Car Buying Guide in Sterling

Buying a new exotic car is an opportunity to own, drive, and enjoy all of the premium performance and features of a world-class car. If you’re not sure where or how to start the search for your dream vehicle, our team at Sterling Motorcars has you covered. In this new exotic car buying guide, we break down the major steps involved in purchasing an iconic vehicle that will command attention, whether it’s cruising DC Metro roads or parked in your DMV-area driveway.

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A Step-by-Step Guide to Buying Your First Exotic Car

Whether you’re considering a high-performance sports car like a McLaren or a legendary luxury vehicle like a Rolls-Royce, it’s important to seek out options that check all the boxes on your wishlist and meet your specific driving needs. After all, a new exotic car is an investment, and you want to be sure to get the most out of your investment in the years ahead. Here’s how to buy a new exotic car that will take every Virginia and Maryland drive to new heights of performance and luxury:

Find a Reputable Dealer

First and foremost, you want to work with a dealership you can trust, a business with a track record in selling exotic cars and providing superior customer service at every step of the shopping experience. Exotic cars have specific capabilities, features, and maintenance needs, and only an experienced dealer can offer the information and guidance you need to make the most informed buying decisions. At Sterling Motorcars, our exotic car experts bring years of experience, knowledge, and a vast vehicle selection to the table. But don’t take our word for it–check out our customer reviews!

Do Some Preliminary Research

Many exotic car buyers know exactly what they want in their ideal vehicles, while others might only have a general idea of what they’re looking for. It’s always a good idea to do a little research beforehand to simplify and streamline the process while ensuring you find an exotic car that suits your needs, preferences, and style. When browsing and comparing exotic cars, take the following factors into account:

Color(s)
Condition
Features and options
Mileage
Price

As a new vehicle, the condition should be pristine and the mileage low. Features, options, price, and color availability are matters of personal taste.

Explore Financing Options

If you’re not going to buy your new exotic car outright, you’ll need to secure vehicle financing. Consider your budget and how much you can comfortably afford to spend each month on your car payment. At Sterling Motorcars, we are proud to offer a variety of convenient financing packages, as well as optional add-ons to protect your new exotic car, like an extended maintenance program, gap coverage, and unlimited paintless dent repairs. And we make it easy to get pre-approved for financing–simply apply online!

Insure Your First Exotic Car

The final step in our new exotic car buying guide occurs once you’ve chosen your vehicle. Buyers in the DC Metro area must insure their new vehicles as soon as possible to comply with the law. Because exotic cars tend to be bigger investments, you want a policy that provides maximum protection. Shop around, compare rates, and choose the policy that best meets your driving and budgetary needs.

Bear in mind that if you finance your exotic car, the lender will almost certainly require you to carry full coverage. If you’re not financing, the law still requires you to carry certain liability minimums and property damage coverage. We will be happy to discuss this more in-depth when you stop by our showroom.

Buying a New Exotic Car: What to Research

If you’re thinking about buying a new exotic car, you likely have several questions. Are exotic cars good investments? What should I know about owning an exotic car? What type of car is best suited to my lifestyle, budget, and driving needs in the DC Metro Area and beyond? All of these questions can be answered by doing some preliminary research, but that raises another important question: What should I research when buying a new exotic car? Sterling Motorcars breaks down the answer to this question in detail below.

A Step-by-Step Research Guide to Buying a New Exotic Car

Some exotic car buyers already have the vehicle they want in mind, one that they’ve long dreamed of owning or already know will check all the boxes on their wishlist of must-have features. Other buyers may only have a general idea of the exotic car they want to purchase. However, it’s always wise to do a bit of research before you head out to buy a new exotic car, no matter how confident you feel about your decision.

The research tips listed below will help answer crucial questions as you start to shop:

Are there pros and cons of owning an exotic car?
Are exotic cars good investments?
What should I know about owning an exotic car?

Here’s how to research buying a new exotic car.

Check for Must-Have Features

You more than likely have some idea of what you want in an exotic car. When searching online inventories, take advantage of search features that allow you to narrow your options by preferred amenities. This way, you can be sure you get matched with vehicles that meet your DMV driving needs. This is a sampling of some of the most common features new exotic car buyers search for:

Amenities and options
Color(s)
Condition
Mileage
Price

Consult Online Reviews and Owner’s Forums

Many online review sites provide objective critiques of virtually every automobile out there. Also, owner’s forums are great resources to gain insight into owners’ firsthand experiences with their vehicles and post your own questions and thoughts. These websites can be a treasure trove of information that helps you weigh the pros and cons of owning an exotic car. Never hesitate to contact a dealer or the automaker directly for more information or answers to specific questions.

Watch Videos

Visit any of the popular free video-sharing websites to delve even deeper into your exotic car research. Videos offer something unique, as you can often see your car of choice in action–from the comfort of your home in Virginia, Maryland, or wherever you might be! Watch videos from a variety of sources–automakers, dealers, owners, and reviewers–to ensure well-rounded research and a sound, secure, and confident final purchasing decision.

Financing a New Exotic Car

It’s no secret that a new exotic car will likely come with a higher sticker price than your average vehicle. Fortunately, you have exotic car financing options that allow you to get into the vehicle of your dreams and hit the roads of the DMV area with ultimate peace of mind. But how does exotic car financing work, exactly? The Sterling Motorcars team breaks it down for you in this guide to financing a new exotic car.

How Does Exotic Car Financing Work?

Many benefits come with buying an exotic car, from the opportunity to own a premium, world-class vehicle with elite performance capabilities and luxe features to investing in a car that will likely gain–rather than depreciate–in value. But first, you may need to look into financing a new exotic car; here is how it works:

Meet Eligibility Requirements

Because of the more substantial cost, you’ll need to take out a more sizable loan when financing a new exotic car. You have a better chance of approval from an exotic car financing company when you meet some basic qualifications, including:

A High Credit Score - In general, the higher your credit score, the better your chances of getting approved and obtaining manageable interest rates. Many exotic car financing companies look for credit scores of 700 or higher, but this can vary by company. At Sterling Motorcars, we work with multiple lenders in Virginia, Maryland, and beyond to help you get the best options and rates.
Loan Term - An applicant is more appealing to lenders when they request a reasonable loan term. The term may be longer than it would be for an average vehicle due to the overall cost, and you might be able to take out exotic car financing for as many as 144 months. With that said, a 144-month term carries greater risk over a longer amount of time, so requesting a more standard loan term of anywhere from 48 to 84 months (or less) increases the chances of approval.
Down Payment - If you can put at least 20% cash down toward your exotic vehicle, you are demonstrating good faith to the exotic car financing company, which means better odds of getting approved. Also, if you’re trading in a vehicle, it will be deducted from your total loan amount, reducing how much you have to take out–and repay.

Get Pre-Approved for Exotic Car Financing

As with traditional financing, getting pre-approved will tell you what you can comfortably afford to spend. You’ll be quoted an interest rate as well, so you can factor that into your budgeting. Sterling Motorcars makes it easy to apply for pre-approval online.

Stay Current on Your Exotic Car Payments

Once you’ve been approved for exotic car financing, pay back your loan installment on time each month. Since the cost may be more than it would be for an average vehicle, missing a month or paying late and incurring penalties can put you in the red. And that jeopardizes your ownership of your exotic car and your credit standing. Our payment calculator can help you determine how much you can realistically afford to spend each month.

Start Financing a New Exotic Car at Sterling Motorcars

How does exotic car financing work? Now you can answer that question confidently and seek the loan and loan terms that make the most sense for your budget. Contact us today to learn more or to start the process. You can also stop by our Sterling showroom and speak with one of our financing experts; we’re an easy drive from the DMV area. We look forward to helping you drive off the lot with an exotic car that checks all the boxes on your wishlist–without breaking your budget.