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Smart Shopper Market in Chaos: When to Buy?
19 messages, Last post on Jun 29, 2009 at 12:29 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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With automotive bail outs, bankruptcies, government takeovers and dealership closings it is difficult to decide whether or when to buy. Should you buy now or wait for possible price reductions as inventories pile up with dealership closings? Will used car prices be affected? Let's share ideas and strategies here and try to make some sense of the turmoil. tidester, host SUVs and Smart Shopper
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Replying to: tidester (Jun 18, 2009 11:59 pm) All things considered, offer what the car would sell for used in two years. Don't let the dealer make you feel sorry or obligated for/to him. Remember many dealers still have 08's that are brand new so offer even less. If you don't take advantage of the buyers market - who will?  
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Replying to: tidester (Jun 18, 2009 11:59 pm) Looking ahead, I don't see a lot more price reductions or incentives, except for the DOA brands. Pontiac, Hummer, Saturn. With the GM and Chrysler factories closed during their BK there aren't any more cars being pumped into inventories. For the other automakers, they have been dealing with slipping sales for a year now. They have all adjusted production downward. Credit continues to be the biggest issue. Banks are tightening up on how much they lend and to whom. Used car wholesale prices have been going up on certain model segments that were previously depressed, such as SUV's and sports cars. Fewer new car sales and fewer short term leases will mean shortages of late model low mile cars in the next couple of years. UC buyers may have to look at older models since there won't be so many 2-3yr old cars on the market.
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a used convertable. I am thinking November? as dealers want to move?. Or is it better say Mid Jan/ Feb when NO ONE is looking (or are they??) at them? As a dealer is there a time they dump convertables, and say stock up on 4x4? Thanks
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Replying to: cu503 (Jun 19, 2009 11:07 am) We sell C70's year round here in AZ. Also, the dealer may not have the car you want if it is a seasonal car. |
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I am in NE, and thought it was going to be this spring, but looks like next spring, thinking a used 2008 or 009, they seem about the same and well sorted out , no bad news opn the roof/ car as far as I can see. Thanks, I love your posts and insight into the industry.
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Replying to: cu503 (Jun 19, 2009 11:14 am) |
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Replying to: volvomax (Jun 19, 2009 11:07 am) I disagree, Max. Hardly anyone "needs" a new car given that you could make do with used iron, cabs and/or public transportation. If savings now were so large that you could pick up a real bargain compared to what a car might cost in a couple of years this might be a great time to trade in a car that is till serviceable for a good deal on a brand new one or perhaps a really cherry CPO. For example my MIL's 2000 Buick is still serviceable but aging rapidly and she can easily afford a new mount. As her primary driver (she's 92) I think she ought to look into something newer but as you know a bench seat Buick LeSabre was obsolete the day she bought it. I wonder if she'd like a caddy or a Volvo better. 
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Replying to: andys120 (Jun 26, 2009 12:56 pm) Unless you live in Manhatten, cabs and public transport are hardly efective for most people. There are good economic reasons to buy a new car over a used one. Warranty, longevity, better safety and technology. In your example, replacing a 10 yr old car with a new one is a good idea. You probably "need" a new car. Someone who doesn't need a new car would be someone who bought a car a year or two ago and just doesn't like it, is upside down, and wants to trade. Too many people go for the "deal" rather than the substance of the car.
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Replying to: volvomax (Jun 19, 2009 11:07 am) I totally agree. You need one if: Your current car is aging Your current car is losing its market value fast Your lease is up Your current car doesn't do the job You don't have a car At any given time, no matter what economy is like - ther a deals on slow selling cars, and bestselllers will not have deals. For example, where I work - you can always get a deal on an Audi Q7 - before the recession, during and after. On another hand - Audi Q5 is hard to get, and there are no discounts. People want to buy it, but compalin that there are no incentives, like on Mercedes GLK, and we always say - there are no incentives because you are here tryign to buy a Q5, not at a Benz dealer, trying to buy a GLK. |
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