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Smart Shopper Buying a Car During the Credit Crunch
343 messages, Last post on Nov 14, 2008 at 5:59 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: volvomax (Oct 01, 2008 10:17 am)
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Replying to: nippononly (Oct 01, 2008 6:24 am) |
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Replying to: joebert (Oct 01, 2008 11:08 am) 
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Replying to: volvomax (Oct 01, 2008 9:48 am)  I wasn't planning to be in the market for a few years anyway. |
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Replying to: hondarep1 (Oct 01, 2008 11:28 am) Can't advertise in these forums according to the rules. How about # 1 in the NW? 
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Selling during the credit crunch actually they call it the credit crisis Local news ran a story about this a couple of weeks ago. A local BHPH magnate claimed that if they did not have their own financing available, he was certain his business would be off probably 60%. Another local new car dealer said that traffic was down a little, but sales remained strong. Claimed they were having no problems getting folks financed.  A BHPH lot opened up about 6 - 7 months ago near me. They loaded up their lot with SUV's and trucks. Talk about bad timing and less than sterling business acumen. I drove by yesterday and they were loading all the inventory onto trucks and a For Lease sign was out by the road. |
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Replying to: andre1969 (Oct 01, 2008 5:30 am) Actually a 4.9% car loan is an excellent rate. You and many others got hooked by those artificial rates. When we see a zero percent rate or a rate close to that, there is always a REASON. These cars aren't selling well so they throw dollars at the interest rates to make the cars attractive. The caution here is the fact that cars that are unpopular as new cars typically have horrible resale down the road so the dollars you "save" during the course of the loan you will lose later when you sell or trade the car in.
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Replying to: hondarep1 (Oct 01, 2008 11:28 am)
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Replying to: mattandi (Oct 01, 2008 8:17 am) |
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Replying to: isellhondas (Oct 01, 2008 1:59 pm) "Actually a 4.9% car loan is an excellent rate. You and many others got hooked by those artificial rates. When we see a zero percent rate or a rate close to that, there is always a REASON. These cars aren't selling well so they throw dollars at the interest rates to make the cars attractive. " It really is, historically it is cheap Every word of isells's post is truth. Ot, but not really, we all have 529's, Ira's and 401-k's so the Wall St. vs Main St argument is rather lame. Was Wall St . guilty ? Yes. Can they make you wish you gave them the money ? Yes again. Hank Paulson was the former ceo of Goldman Sachs. The plan is crappy, it will be porked up, they cannot help themselves, but lest consumer confidence hit the skids, pass and rescind at leisure. The preceding was a non-paid non-political endorsement from duke, duke agree's with his statements obviously since he wrote it.
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