Best car deal in 2009?

[gte811i]

Re: Best car deal in 2009?

While I do believe car prices will prob. come down, I don't necessarily think great financing will be coming back (at least for some companies). I bought a new Buick this past summer, 0% 6 years. I recently went in to check if a minor issue needed to be fixed (recall-it wasn't a problem on my vehicle though). I hate 6 years . . . but @ 0% . . . I've got all the money in the bank earning 4% interest . . . Dealer said the best financing available for stellar credit (750+) is 5%.

I'm curious how far prices will fall. With GM now at the trough, do they have to drop prices as far as they should have? You could essentially have a 30s style food program, pay GM to build vehicles that just sit and rot since they don't have to drop the price.

So if you were buying with cash, buying later with cash is prob. better. If you are buying with financing . . . that's were you'd really have to have a price collapse (i.e. what's happened with trucks and SUVs has to happen across the board) for it to matter.

[kx5fast]

Re: Best car deal in 2009?

On the ground report, and granted a "specialty" vehicle, but this is real world prices.

I need a truck for business and pleasure, bought my last truck new in 1999, GMC Sierra 1500, all the whistles and bells. Have gotten 197K miles, trouble free. Paid 31K back in 1999.

Today, need more towing capacity, wanted a diesel, however, did not like the prices in the last few years (48-50K fully loaded) so I have been looking at used (2006 and 2007 models) due to the fact that they have seen significant depreciation. Usually marketed at 27-32K with 30K miles or so. Well, did a hail mary email look, and found a 2008 diesel GMC Sierra 2500 for (drumroll here)..... 33,000 dollars. This is a new truck, on the dealer lot, 9 miles on it.

This is a fully optioned truck that only lacks the Nav system, every other conceivable option is on the truck. And it is a diesel, typically at least 10K over a similiar gas powered truck. As my miles indicate on my old truck, I am a buy and hold (or buy and destroy) vehicle holder. I expect this vehicle to last a minimum of ten years, most likely 15. Over the life span of that ten years, fixed depreciation of 3K per year even of the truck is worth zero in the end.

That is some of the cheapest hauling dollars you will see, ever.

The fact that I paid a mere 3K over my gas powered truck after ten friggin years of inflation astounds me.

RP

[FRED]

Re: Best car deal in 2009?

On the ground report, and granted a "specialty" vehicle, but this is real world prices.

I need a truck for business and pleasure, bought my last truck new in 1999, GMC Sierra 1500, all the whistles and bells. Have gotten 197K miles, trouble free. Paid 31K back in 1999.

Today, need more towing capacity, wanted a diesel, however, did not like the prices in the last few years (48-50K fully loaded) so I have been looking at used (2006 and 2007 models) due to the fact that they have seen significant depreciation. Usually marketed at 27-32K with 30K miles or so. Well, did a hail mary email look, and found a 2008 diesel GMC Sierra 2500 for (drumroll here)..... 33,000 dollars. This is a new truck, on the dealer lot, 9 miles on it.

This is a fully optioned truck that only lacks the Nav system, every other conceivable option is on the truck. And it is a diesel, typically at least 10K over a similiar gas powered truck. As my miles indicate on my old truck, I am a buy and hold (or buy and destroy) vehicle holder. I expect this vehicle to last a minimum of ten years, most likely 15. Over the life span of that ten years, fixed depreciation of 3K per year even of the truck is worth zero in the end.

That is some of the cheapest hauling dollars you will see, ever.

The fact that I paid a mere 3K over my gas powered truck after ten friggin years of inflation astounds me.

RP

Enjoy it while you can. The prices are a once in a lifetime combination of the high purchasing power of dollars and temporary excess inventory in the face of collapsed demand.

The demand will not recover much over the years; we expect an L shaped recovery in the automobile market.

With little in the way of inventory replacement, the inventory will work through by the end of 2009.

By 2010, prices will go back up, especially imports due to the US getting its way politically and achieving a weak dollar.

[phirang]

Re: Best car deal in 2009?

Car prices are up 20% in Moscow area, according to my McKinsey friend who lives and works there.

This is a result of recent protectionist policies, though.

[FRED]

Re: Best car deal in 2009?

Car prices are up 20% in Moscow area, according to my McKinsey friend who lives and works there.

This is a result of recent protectionist policies, though.

Went to the local Linens N Things to buy closeout discounted sheets and towels to last a few years. Too late! :eek:

[metalman]

Re: Best car deal in 2009?

Went to the local Linens N Things to buys closeout discounted sheets and towels to last a few years. Too late! :eek:

without malls, what will the people do?

The shopping mall construction boom in Asia has attracted a good deal of international media attention during the past few years. Eight of the ten largest malls in the world were in Asia in early 2008 and several more mega-malls in China and the United Arab Emirates are under construction.

Mall watchers have predicted that within the next few years, seven of the ten largest shopping malls in the world will be in China alone. Typically, Chinese mega-malls are only parts of a much larger residential, office, and entertainment complexes. An informative discussion of this phenomenon is an article by David Barboza, "China Builds Malls on Gigantic Scale, " New York Times, May 25, 2005.

This phenomenon is also surveyed in a short article, with images of the ten largest malls, by Tom Van Riper in "World's Largest Malls," Forbes.com, January 9, 2007.

Exclusive Shopping Mall Studies interview about Chinese malls with a Hong Kong-based real estate expert: Interview link.

again???

Window Shopping 1929

[jk]

Re: Best car deal in 2009?

mega posted this. i'm waiting for a Pelosi GTxi SS/Rt Sport Edition from Congressional Motors! yeh!

thanks for posting the link here. i loved it.

[Chris Coles]

Re: Best car deal in 2009?

Went to the local Linens N Things to buys closeout discounted sheets and towels to last a few years. Too late! :eek:

Fred, you missed out by decades as a careful inspection will have told you, (I feel sure to suggest), that there was not a single item truly manufactured from Linen. Looking back I was incredibly lucky as my parents were well off in the early 1920's when they married and my mother got a very large quantity of real Linen as a wedding gift. As a result, I spent all my home life sleeping on Real Linen. It is unobtainable today. Irish Linen was the best. Wonderful stuff. But in passing this shows the long term possibilities for new products and markets. Real Linen is infinitely better than cotton for bed sheets and much more besides.....