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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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#51 of 343
My guess by isellhondas
Oct 03, 2008 (6:30 am)
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Would be the popular models would have 36 month financing and the less popular models would be for 60 months.
 
Those dollars have to come from somewhere.
#52 of 343
Re: My guess [isellhondas] by nwng
Oct 03, 2008 (7:03 am)
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Replying to: isellhondas (Oct 03, 2008 6:30 am)

have you look at toyota's vault lately? They can subsidize every 0% deals to accelerate gm and ford's path to ch 11 and they know both of them do not have the resources to offer 0% or huge rebates anymore, here's what I call "everytime when kenny gets killed". The business world is bruuuuutal. the cnn article states rolla, camry, matrix are all eligible (where's yaris and scion?)
#53 of 343
honda might do that too by nwng
Oct 03, 2008 (7:10 am)
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but they're probably offer a 1.9% since their vault is not as big as yota's, and honda's cars are better. So 1.9% is low enough to prod more people into their showroom.
#54 of 343
waiting by tns1
Oct 03, 2008 (7:12 am)
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I was in the market for a car but am waiting now until the dust settles a bit. I have excellent credit, paid off house and was preappoved at my bank 5.25%(big whoop). I am going to hold off for month or 2 to see what happens. I figure the dealers will be desperate to sell there inventories and you should be able to get a great deal. When I was going around to dealerships test driving, just about every car had to be jumped off due to dead battery. So, the cars had been there a while and not been cranked for a while. I have noticed cars sitting on lots for months around here. I am in South Carolina. You should be able to write your own deal pretty much. If not, they can sit on the lot until they rust away for all I care.
#55 of 343
Re: honda might do that too [nwng] by mattandi
Oct 03, 2008 (7:26 am)
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Replying to: nwng (Oct 03, 2008 7:10 am)

Honda has had financing and lease incentive before. The "sky is falling" will be heralded when they offer a cash-to-customer rebate.
#56 of 343
Re: waiting [tns1] by fandiguy
Oct 03, 2008 (7:27 am)
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Replying to: tns1 (Oct 03, 2008 7:12 am)

It must be terrible in some parts of the country. I'm in the midwest and haven't really noticed a drop in business, i guess its all region specific. The current deals on new domestics are not going to get better. Some trucks and SUV's are over $10,000 off MSRP....how much more do people want?? We're actually almost out of 2008 model year cars, and only have a few trucks left. The people that waited for the employee pricing sale to improve are now buying at several hundred to thousands more than last month because the incentives decreased.
 
I'm friends with several people at import stores, and they're saying sales are WAY down. I guess most people in the midwest feel the need to support domestic brands when the economy looks like its going to sh*t...even though most "imports" are actually assembled here in the states.
#57 of 343
Re: honda might do that too [mattandi] by nwng
Oct 03, 2008 (8:02 am)
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Replying to: mattandi (Oct 03, 2008 7:26 am)

honda's 1.9 are usually for year end model or end of model run. I'm talking about across the board and for 2009 models as well. I doubt they will include the s2k though if they offer anything like that.
#58 of 343
Re: honda might do that too [nwng] by isellhondas
Oct 03, 2008 (8:14 am)
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Replying to: nwng (Oct 03, 2008 8:02 am)

Why not? S-2000's aren't big sellers and we are heading into the winter months.
#59 of 343
Re: waiting [tns1] by nwng
Oct 03, 2008 (8:26 am)
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Replying to: tns1 (Oct 03, 2008 7:12 am)

If I were you, I would also wait til around christmas, take out a heloc (around 4.5% or maybe less), follow the amortization schedule to pay it off in 36 months.
 
You walk into a dealership with cash in hand around that time, you should be able to get whatever you want. "yes, I want you to throw in a manufacturer extended warranty, 3 yrs of XM, a book of carwash coupons....."
#60 of 343
Re: honda might do that too [isellhondas] by nwng
Oct 03, 2008 (9:09 am)
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Replying to: isellhondas (Oct 03, 2008 8:14 am)

really? at 1.9 and they're selling slow....... , then the only hurdle is how to get around the warden wife. A used miata was my goal with the brownie points I have so far, but a brand new s2k.....

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