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Buying a Car During the Credit Crunch

343 messages,  Last post on Nov 14, 2008 at 5:59 AM

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What is this discussion about? Car Buying, Car Financing, Car Leasing

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#11 of 343 Re: Depends on the area [euphonium] by alamocity Oct 01, 2008 (8:39 am)
Replying to: euphonium (Sep 30, 2008 7:41 pm) That depends on the vehicle in question, I certainly don't see lower prices on vehicles.
#12 of 343 Re: Can't beat my rate... [lemko] by nippononly Oct 01, 2008 (8:43 am)
Replying to: lemko (Oct 01, 2008 6:26 am) That's one thing I think we will probably see a lot less of- low interest rate promos on purchases from the automakers - if what I am reading in the papers is true. Replies to this message: laura26 (Nov 03, 2008 5:17 pm) nippononly (Nov 03, 2008 7:00 pm)
#13 of 343 Re: I wasn't really in the market in the first place... [andre1969] by grbeck Oct 01, 2008 (8:58 am)
Replying to: andre1969 (Oct 01, 2008 5:30 am) It's my understanding that loans are still available for customers with good credit.   From what I've read, the problem is twofold. One, customers with bad credit, or who are upside-down on their vehicles, are having trouble getting a loan. Unfortunately, more than a few auto makers depended on these customers to prop up sales.   Two, recent economic news, plus this year's spikes in gasoline prices, have made even customers with good credit wary of buying a new vehicle.   I think this market may just take down one of the domestics, and maybe one or two of the foreign luxury marques. Replies to this message: lemko (Oct 01, 2008 9:08 am)
#14 of 343 Take advantage of the credit crisis by lwitherington Oct 01, 2008 (9:07 am)
Does anyone know anybody who has managed to take advantage of the credit crisis and negotiate a great deal on a car? People with cash must be in a strong position at the moment.
#15 of 343 Re: I wasn't really in the market in the first place... [grbeck] by lemko Oct 01, 2008 (9:08 am)
Replying to: grbeck (Oct 01, 2008 8:58 am) When I bought my DTS last November, I came armed with three things: a stellar credit rating, a significant down payment, and a paid-off trade. The only thing better would've been a briefcase full of cash. If things were as bad then as they are now, I don't think I would've bothered going through with it at all.
#16 of 343 Re: Depends on the area [euphonium] by fintail Oct 01, 2008 (9:16 am)
Replying to: euphonium (Sep 30, 2008 7:41 pm) The higher end used market in Puget Sound has collapsed...I have noticed several dealers with the same inventory for months.   Used cars have always cost a little more here, but IMO the quality/condition is often a little better too.
#17 of 343 Re: Depends on the area [euphonium] by isellhondas Oct 01, 2008 (9:35 am)
Replying to: euphonium (Sep 30, 2008 7:41 pm) Not sure what you mean?   I do most of the MSFT deals here and that certainly isn't the case!
#18 of 343 Re: both of my [nippononly] by volvomax Oct 01, 2008 (9:48 am)
Replying to: nippononly (Oct 01, 2008 6:24 am) last two car loans were at 5% or less. I wouldn't buy a car at a higher interest rate than that. Does that mean I am out of the car market for the next decade?   Probably. Unless you want to buy a domestic. Or you belong to a really aggressive credit union. Replies to this message: nippononly (Oct 01, 2008 12:20 pm)
#19 of 343 Credit, schmedit. by bumpy Oct 01, 2008 (10:12 am)
I've always paid cash anyway with no trade-ins, as that cuts about 95% of the potential BS out of the car-buying experience. Replies to this message: volvomax (Oct 01, 2008 10:17 am) joebert (Oct 01, 2008 11:08 am) hondarep1 (Oct 01, 2008 11:28 am) and 6 more...
#20 of 343 Re: Credit, schmedit. [bumpy] by volvomax Oct 01, 2008 (10:17 am)
Replying to: bumpy (Oct 01, 2008 10:12 am) You represent a tiny minority of the car buying public. Replies to this message: joebert (Oct 01, 2008 11:08 am) hondarep1 (Oct 01, 2008 11:28 am) isellhondas (Oct 01, 2008 12:51 pm) and 4 more... exb0 (Oct 01, 2008 3:39 pm)

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