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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

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


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#61 of 343
Re: waiting [fandiguy] by derrickson
Oct 03, 2008 (9:40 am)
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Replying to: fandiguy (Oct 03, 2008 7:27 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.
 
i definitely 2nd that! i've been pricing numerous models (cx-9, cx-7, rav-4, cr-v, forester, etc) in houston area, and am NOT seeing the same offers as elsewhere. i had to go to charlotte NC to get a price comparable to what i see on the boards here. once i had the quote, no local dealers would come even remotely close to matching, let alone bettering it.
#62 of 343
Re: waiting [derrickson] by fandiguy
Oct 03, 2008 (9:53 am)
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Replying to: derrickson (Oct 03, 2008 9:40 am)

Well the bailout just got approved, so we'll see how things will change over the next couple of weeks. There is an interesting story on msn about how the credit crunch is affecting some dealerships. It says the major imports (honda, toyota, etc.) are down more than 20%, but general motors is only down 16%. Seems like a lot of people are a little off with thinking its only the domestics that are hurting right now.
 
Here's a link to the story:
link title
#63 of 343
National TV - press request by kirstie_h HOST
Oct 03, 2008 (9:59 am)
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A national television news network would like to speak with consumers with good credit who are having trouble getting approved for an auto loan. If you are interested in speaking to a television reporter, please respond to jwahledmunds.com with your daytime contact information along with a brief summary of your situation by the end of the day on Friday, October 03.
#64 of 343
Re: waiting [fandiguy] by tns1
Oct 03, 2008 (12:24 pm)
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Replying to: fandiguy (Oct 03, 2008 9:53 am)

From what i have been observing is domestics are way cheaper than the "imports" of course and that may be why the figures show that. For instance they are practically giving the Chrysler mini vans away as compared to Toyota and Honda mini vans. The reason being that Toyota and Honda is much better vehicle than Chrysler. But money is so tight people are rolling the dice on the domestic to save some dough and hope it does not fall apart before they get it payed off. Just my theory.
#65 of 343
Re: waiting [nwng] by tns1
Oct 03, 2008 (12:28 pm)
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Replying to: nwng (Oct 03, 2008 8:26 am)

I looked at Home equity loans, but that is a catch-22 thing. If the prime goes up, so does it. Of course if prime goes down so does it. Its a gamble. I would rather be locked into one rate the whole life of the loan. That is what got some of these people defaulting on loans, is that they went for the ARMs and it burned them big time. My motto is, get the best rate you can and lock it in.
#66 of 343
Re: waiting [tns1] by isellhondas
Oct 03, 2008 (12:40 pm)
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Replying to: tns1 (Oct 03, 2008 12:24 pm)

Don't forget about how fast these domestics depreciate!
 
There go's your "savings"!
#67 of 343
Re: waiting [isellhondas] by fandiguy
Oct 03, 2008 (12:51 pm)
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Replying to: isellhondas (Oct 03, 2008 12:40 pm)

No one knows the pain of that more than GMAC and Chrysler financial!!! They ate a TON of money on leases, and still have a whole wave of turn ins to go. I work at a gm store, and i wouldn't even buy a new GM, unless i planned on keeping it for 6 years......if i was to buy something GM, it'd be a used '07 or '08. I've still got another year in my lease so we'll see what happends.
#68 of 343
Re: waiting [isellhondas] by tns1
Oct 03, 2008 (12:55 pm)
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Replying to: isellhondas (Oct 03, 2008 12:40 pm)

Hello, Mr. isellhondas. You wouldn't be a little biased on this subject would ya?
I currently own a 2000 Odyssey EX. I must say I have been a little disappointed in the Odyssey reliability. Big problems with the sliding doors, check engine light coming on and off, squeaks, rattles, etc.. I have read the horror stories of the tranny problems that have plagued the Odyssey but Thank The Lord, we have been spared that so far. But, I think I would take the Honda over the Chrysler product any day. Chrysler seems to be all style but no substance. Still Honda quality seems to be slipping a bit along with Toyota. Maybe resting on there laurels a bit?
#69 of 343
Re: Can't beat my rate... [lemko] by godda9u
Oct 03, 2008 (1:26 pm)
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Replying to: lemko (Oct 01, 2008 6:26 am)

DTS and LaCrosse... so you 2 retirees need to go to IHOP ASAP for the early bird special? LOL
#70 of 343
Re: waiting [tns1] by mikefm58
Oct 03, 2008 (1:27 pm)
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Replying to: tns1 (Oct 03, 2008 12:55 pm)

isellhondas. You wouldn't be a little biased on this subject would ya?
 
Oh he's never heard that line here on these forums, LOL.
 
along with Toyota
 
No disagreement there. There are 4 Toyotas in my family and I wish I bought stock in the company that supplies their O2 sensors, $350 a pop to replace, all shortly after the warranty expired. And my 06 Tundra had 3 bad tires on it from day one, which were replaced.

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