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Thread: Is now the best time to buy a car?

  1. #1
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    Is now the best time to buy a car?

    If you've got the credit & a stable job (two really big "if's" in this economy) it might be a good time to buy a new car. Reasons?

    The dealers have tons of unsold cars -- they're filling up storage lots around the world with new cars that have no buyers.

    The manufacturers are offering amazing incentives to buy -- often several thousand off the sticker price.

    And now might be a good time to take on some intermediate-range debt, because with all the money being pumped into the economy, it's bound to have an inflationary effect. Better to have a car loan today at 6% than being forced into one at 15+% when your car dies a year or two from now.

    Chip H.

  2. #2
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    Additionally, as the new CAFE regulations go into effect, the available new cars will get smaller and slower.

  3. #3
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    Quote Originally Posted by chiph View Post
    If you've got the credit & a stable job (two really big "if's" in this economy) it might be a good time to buy a new car. Reasons?

    The dealers have tons of unsold cars -- they're filling up storage lots around the world with new cars that have no buyers.

    The manufacturers are offering amazing incentives to buy -- often several thousand off the sticker price.

    And now might be a good time to take on some intermediate-range debt, because with all the money being pumped into the economy, it's bound to have an inflationary effect. Better to have a car loan today at 6% than being forced into one at 15+% when your car dies a year or two from now.

    Chip H.

    I agree with you 100%, if someone needs a new car, truck, or SUV and can afford to purchase one. Now is a great time to buy, the deals are the best I can ever remember them being in the past.

  4. #4
    DonTom
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    Quote Originally Posted by Disco Man View Post
    I agree with you 100%, if someone needs a new car, truck, or SUV and can afford to purchase one. Now is a great time to buy, the deals are the best I can ever remember them being in the past.
    What I have noticed (by knowing people who recently purchased cars) is that the asking prices are about as high as ever, especially in this area (near SF). However, the odds of making a ridiculous lower offer being accepted is MUCH greater than ever before, especially on SUV's and pickup trucks and such.

    -Don-

  5. #5
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    Oh yes. They'll still throw the MSRP plus overpriced fabric protectant out there, just to see if you'll bite (aka, are a fool). But they'll back off really quickly once you convince them that you're a serious buyer and know how things stand in the current seller-buyer relationship.

    Chip H.

  6. #6
    Vulture of The Western World Eric's Avatar
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    Quote Originally Posted by chiph View Post
    If you've got the credit & a stable job (two really big "if's" in this economy) it might be a good time to buy a new car. Reasons?

    The dealers have tons of unsold cars -- they're filling up storage lots around the world with new cars that have no buyers.

    The manufacturers are offering amazing incentives to buy -- often several thousand off the sticker price.

    And now might be a good time to take on some intermediate-range debt, because with all the money being pumped into the economy, it's bound to have an inflationary effect. Better to have a car loan today at 6% than being forced into one at 15+% when your car dies a year or two from now.

    Chip H.
    No question, prices are better now than they have been in years - and the buyer is in the strongest position he's been in, perhaps ever.

    I doubt, though, that sales will uptick much. Obama (and almost everyone else) keeps talking about credit and consumption. They seem to assume we can return to the pre-crash system. But we have eaten up our savings and our "reserve wealth" (manufacturing, jobs) to such an extent that there is no longer the possibility of further debt-driven consumption without hyperinflation and an even greater crash.

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