So, you thought you made a great deal on that new car?

[formercia]

http://finance.yahoo.com/tech-ticker/article/315839/Now-Is-Not-a-Good-Time-to-Buy-a-Car-Edmunds.com-CEO-Says?tickers=tm,f,hmc,MTLQQ.PK,an&sec=topStories&pos=8&asset=&ccode=

Now Is Not a Good Time to Buy a Car, Edmunds.com CEO Says
Posted Sep 02, 2009 11:00am EDT by Peter Gorenstein in Recession, Autos
Related: tm, f, hmc, MTLQQ.PK, an

In the market for a new car but your current set of wheels didn't qualify for the "cash for clunkers" program? Edmunds.com CEO Jeremy Anwyl says hold off, if you can. His advice "would be to wait probably until November" when inventory levels normalize.

In an interesting market dynamic, the Clunkers program drove up demand so much, certain vehicles actually got more expensive. Prices "were up during the program and they're still up today because inventories are still very lean," he says.

One of the best examples is the Toyota Corolla, the most popular new vehicle purchased under the program. During the Clunkers program, buyers of the Toyota Corolla paid 29% closer to the full sticker price than before the program started, according to data from Edmunds.com.

--snip--


This is the classic jack up the price while offering a discount scam. Demand my ass.

[shraby]

1. First time I heard inventories were lean...word was that

the lots were full and cars were being stored wherever there was room.