We’ve all fantasised about winning the lottery, or inheriting a massive fortune from some great-uncle we never knew we had, and getting straight down to the dealership to buy our dream car.

You know exactly what car you’d buy. But right now, it feels totally out of reach. I mean, it’s a dream car, right? It’s probably never going to happen...

Well sure, there isn’t a secret formula to making the dream come true. But with careful planning, cutting a few corners, and taking advantage of available financing, that dream car may not be as out of reach as you think.

Maybe - just maybe - you don’t need the estranged millionaire uncle after all. Check out the list below for some practical pointers.

Make a Budget

First things first, set yourself a budget and stick to it. You need to set a clear goal - no matter how intimidating it is - so you can focus your attention towards attaining it.

Once you’ve got your goal, break it down and work out a plan. Don’t be put-off by a big number. You’d be surprised what you can achieve in small, well-planned steps. 

If you’re serious about saving for your dream car, you have to get to grips with your personal finances; take note of incoming and outgoing payments, watch your credit, set up a savings account, and get a sense of where you are wasting money.

Getting a clear, detailed picture of your finances will allow you to reallocate funds, eliminate certain expenses, and set aside a savings goal each month.

If you have to make some cuts for a few months (hey, good things come to those who wait!) then commit. What can you do without, what can you sell, where could make some sensible investments that are going to make returns?

This is a big investment but it is a long-term investment, not dissimilar to investing in housing or business. You just have to be practical.

Look into finance

So you’ve taken a close look at the budget and it’s still going to take a while to save for the car of your dreams. Don’t worry, there are other ways of attaining your goal. 

You don’t have to generate the full price yourself. If you have a steady income and good credit (which you can prove), then there are lots of finance options available to you to put down that down-payment or set-up and affordable payment plan.

One option is to go down the route of taking out a loan. Loan providers such as Plenti offer both car loans and personal loans, which you may be able to put towards your new dream car. If you have a good credit history, then you could try a smart loan, which can result in lower interest rates. Just be sure to do your research so that you don’t get saddled with debt.

In any case, find a dealership like LRC 4X4 Limited that specialise in the model you want, and start a conversation with their sales team. They will want to help you reach your goal and can give you the best advice on what payment plan will work best for you.

If you’ve already taken control of your finances and can demonstrate that you are a reliable earner, a professional dealership will do everything they can to support you.

Buy second hand

If a brand new car is still too much of a stretch, you can look into buying second-hand. There are risks involved in this and it’s important to do your research.

Buying a car that is over a year old will MUCH cheaper than buying new - sometimes as much as 20%. And lots of people would prefer to sell privately (rather than going through a dealer) as it will save them money as well as you.

So if you find a good deal on your dream car, don’t be afraid to negotiate. It’s worth bearing in mind that dealers have targets and bonuses on their mind. These are based on sales, making the end of March, June, September and December a good time to buy.

If you’re buying privately online, or going through an auction, make sure to carry out thorough inspections of the vehicle. If you’re not confident, it is always worth getting a professional opinion before parting with your money.