Are you delaying buying a car, or taking advantage of a buyer's market?

[SurfinBetty]

I'm just wondering how other people are feeling about buying a car. Are you delaying buying a new car? Are you buying a used car instead? Or, are you taking advantage of the buyer's market in new cars right now?

I was going to need a van later next year, but the deal I got now was too good to pass up.

[flvegan]

1. I bought in February, which was the epitome of buyer's market.

I also bought "used" even though the car had under 7k miles.

I'd never buy a brand new car. The market never supports the depreciation of a brand new car, especially with the '08s being technically 1 year old already now that the '09s are out.

[SurfinBetty]

3. Have you ever looked at the True Cost to Own Calculator?

If you run the numbers on Edmund's True Cost to Own Calculator, it's not actually that much more to own a new car. I've seen other figures where that's true, too. As long as you don't buy a new car too often.

I looked really hard for a used van, actually, and all the ones with low miles would have cost more than my new van. I bought my brand new 2008 Odyssey EX-L for $23,500. It stickers at almost $33,000. I couldn't get a 2006+ for less than $22,000 with low miles. I did find some with 60k+ miles that I could have gotten for $19,000. Also, there were serious upgrades for the model this year. It's really that much of a buyer's market on the new cars right now. I have bought a lot of cars and I've never seen anything like this - although I dind't look in February, so maybe I missed something.

Since 2005 the dealers have been making most of their profit off the used cars - that's why it's so hard to get a really good deal on them.

[LeftyMom]

8. If you're financing, sometimes new makes more sense since they tend to have better promos.

Personally, I like not having a car note and the lower insurance that goes with that, so until some wealthy deceased relative I don't know I have (naturally the one actual wealthy relative can't stand me, darn the luck) kicks off and leaves me a bundle, I'll be sticking to used cars.

[SurfinBetty]

24. I just bought a new car cheaper than I could buy one a year old

And only paid $4000 more than I would have if I'd bought it three years old with 55,000 miles on it. The incentives, I love them.

[mwooldri]

2. If I could afford to buy I would.

Sod buyers or sellers market, I have a strong feeling my car isn't going to last much longer - 2004 Ford Focus.

I have 2 more years to pay on that sucker. Once paid, I am going to get something else. I have my heart on a Jeep Wrangler but I know it isn't that green. Probably more "sensible" and "boring" is a Chevy Malibu or some similar mid-size saloon car. I've seen an estate version of the Malibu (they call it the Malibu Maxx) and that's OK too... Maybe that'd work for me.

Mark.

[Initech]

4. I bought mine last year.

[AlCzervik]

5. i kind of wish i waited to buy my car on one hand because i probably could have

saved some money, but i also love my car, i wanted it for a long time.

Where i live you can get a good deal on new and used cars, our auto mall is having a terrible time and another dealer just went under, it was Saturn this time.

[SurfinBetty]

6. We've had a Chrysler and a Suzuki go under so far, just that I know of.

Lots more will be folding, I think, unless people decide to buy.

[AlCzervik]

7. The big Ford dealer at this automall went out in June, there were some rumors

in the paper a few weeks before but the owner denied it and then 2 weeks late---poof! The Saturn dealer had i think about 60 employees, the ford dealer probably had at least 100 and the Chevy dealer, they still have 2007 suv's--new and like free. The Honda and toyota dealers aren't faring that much better, tons of inventory at both places, Toyota's is a bit worse due to the big trucks and land yachts they sell.

Saturn has a new 2 door model, well new to me at least and it's kind of cute so i thought maybe they'd move a lot of those but i guess it wasn't enough to save them.

[SurfinBetty]

13. Don't you think we'll all pay more when there are fewer dealers?

We won't have as many places to shop around.

[AlCzervik]

27. supply and demand, people might just hold on to their cars for as long as possible.

[LeftyMom]

9. They did?

Well, that'll cut down on my junk mail, at least. I got my car serviced there years ago, and they're still sending me stuff asking me to trade the thing in. Like they really want a eleven year old car with 166K miles on it. :eyes:

[AlCzervik]

10. yup on Friday, i read it about today in the Bee, it's kind of sad, Saturn seemed

like one of the better dealers compared to Elk Grove Ford (gone) and the behemoth chevy dealer.

The word is now that a Carmax will going in where Elk Grove Ford was which is funny because when the automall went in the dealers insisted on "No used car lots!" but now that the economy is in the shit they're all for it.

[LeftyMom]

11. They took really great care of me, and my car didn't come from them.

It was originally purchased at Saturn of Fairfield but I bought it private party.

As a rule, Saturn dealers tend to have great customer service.

[AlCzervik]

12. that's like elk grove VW, i bought my car at Neillo but EG vw takes car of it and they

do a great job, if i do buy another vw i will but it from them if i still live here.

[Droopy]

14. If I really needed a new car I'd be buying right now

But for now I have a 2002 Chevy S-10 that's paid for and has about 78,000 miles on it. There's still lots of life left in that little truck and I intend to run it until it dies.

[SurfinBetty]

16. I know what you mean, but having a baby = different car sometimes

I loved my old car, but it did not work with a baby. It would have been impossible with two children. So, I bought now instead of waiting 9 months.

[taterguy]

15. I've been delaying since 1991

One of these days I'll get around to it but I'm in no hurry

[billyskank]

17. Spend the money on beer instead

assuming that isn't what you already do.

[taterguy]

19. Beer, lap dances, smokes

The important things in life

[wartrace]

18. Delaying- Afraid the economy is worse than they claim.

I am concerned about my ability to make the payments if I am laid off from my job. I am pretty comfortable in that my home is paid for & I have no debt but taking on 10-15 thousand in debt scares me. I am not spending any uneccesary cash.

[SurfinBetty]

20. I think a lot of people feel that way

Either that or their credit is too poor to qualify for a loan.

[wartrace]

22. Until we see the light at the end of the tunnel consumerisim is dead.

Right now people just want to survive.

[Pierre.Suave]

21. edit

no need...

[quakerboy]

23. I want to sell mine

But no one wants to buy it.

[SurfinBetty]

25. Did you try out Carmax? It will probably be lower, but not too much

And if you are buying another car from a car lot, make sure to shop your trade-in around. My trade in offers varied from $6000 to $9750.

[quakerboy]

26. Meh. I like craigslist and I'm in no hurry

I recently realized that I only use it about 2x per month for shopping trips, and that there is no reason why, since my wife goes with, we couldn't use her car to do that. It used to be a necessity, but now that a work car is parked at my house, Its just taking up space and collecting leaves and dust.

At the same time, having a car is a mental blanket. Knowing I could make it to the Canadian Border in one tank of gas has gotten me through the past few years. Beyond which, if it sells, where will I put the new Thunder cats sticker my wife had made for my birthday?

So I will sell it at my cost in my time. If it sells, great. If not, meh. I assume I will need a car again someday.



Anyhow... speaking of cars, does anyone know much about electric windows?

[JVS]

28. In about a year.

I wonder what the market will be like!