Even IF You Have The Money, Will You Be Buying ANY Car In The Next 90 Days?

We keep hearing over and over about the woes of the Big 3 but the Spies can tell you from our research, there is not even ONE car company executive that isn't SCARED TO DEATH about sales in the next 90 days to 6 months.

And it ISN'T about people NOT having the money or the ability to get financed.

Yes, those are issues but even the people who have cash or access to credit are just sitting on the sidelines for a number of reasons:

1. Prices are in the tank and people feel if they wait, things will get even cheaper. Why buy something now when you can wait for the most dismal auto news ever in January or February and get an even better deal on something?

2. Is it really the right thing to show up at work or your business in a brand new vehicle with people getting laid off left and right and uncertainty across the board?

3. People in general take action one way or the other based on hype...Just look at the election, stock market or real estate. If the media SAYS things are good and you should buy or vote a certain way, then people buy or vote one way or the other. But if they set a tone of uncertainty, doom and gloom, people retract or punish who is the reigning power in office.

4. Insert your favorite reason here __________________

So in essence, in my opinion, a LOT of this is PSYCHOLOGICAL.

I don't believe things are good but I don't believe that they are as bad as they say they are.

I also believe the pain is regional...Californian's aren't buying for lack of money or credit, but because the media has created this bad economic vibe.

So they see things suck in Detroit or wherever, so they sit on the sidelines.

Just look at the foreclosure sale frenzy...what's next, bus tours to dealers to buy virtually worthless inventory?

I personally have to take action and buy something before the end of the year for tax reasons and I'm going to take advantage of the IRS Section 179 deduction, while it's still available.

So my question for you all is...

Will you be buying ANY car in the next 90 days and if so why, or if not, why not?

We're VERY interested in your feelings on this subject.

And so are a lot of auto companies....

PorscheMeister - 12/8/2008 4:42:56 AM

+4 Boost

Yes.... If I had the money... ;)

tomloy - 12/8/2008 4:44:35 AM

+2 Boost

I think the major problem with the automakers lack of sales is all the discussion of bankruptcy. A car is a major investment, and many are concerned about the availability of parts. Another problem is most car dealers are closed on saturdays. They want to complain about the lack of sales, then shut on saturday, when all people are off work? They'd be better off giving their employees monday off and having them work saturday.

tomloy - 12/8/2008 4:45:58 AM

+1 Boost

And I have the money, and I WON'T be buying a car in the next 90 days to 6 months.

rumnyc - 12/8/2008 7:23:41 AM

+1 Boost

if anything, i'll be *SELLING* a car in the next 6-9 months...

rocker - 12/8/2008 11:54:53 AM

+2 Boost

Agree, if your credit is not maxed you would be in a possible win situation.

finishline - 12/8/2008 5:35:09 PM

+3 Boost

Not sure what's so hard to get. I'm lucky in that my income hasn't been affected, and I don't owe any money to anybody, but my retirement portfolio took a huge hit. The markets are WAY DOWN across the board. My portfolio has moderate risk and is diversified, but no one was really spared in this market. It's not that complicated. I still have (technically) disposable income, but I'm DISPOSED to put it away instead of spending it.

S4cabriofoxone - 12/8/2008 9:31:40 PM

+1 Boost

What car did you get, Sailor? I don't remember if you already have a 335i or not.

finishline - 12/9/2008 10:01:22 AM

0 Boost

Now I'm sorry I even responded to this. Gross.

Agent009 - 12/8/2008 8:50:22 AM

0 Boost

I am waiting for about 9 more months to a year to replace the wife's vehicle.

Just too much uncertainty in the market right now.

sizquik - 12/8/2008 1:02:47 PM

+2 Boost

I agree completely and believe we are heading down a very slippery slope. I was planning on getting a new car this spring but will most likely hold off until next November.

NItePhire - 12/8/2008 8:57:49 AM

+1 Boost

I bought one 2 months ago. A CX9 08. I bought it because I got a really good deal and I have good credit.

NItePhire - 12/8/2008 9:04:15 AM

+3 Boost

The problem with the news and media in general is that we have way to much access to it. I agree with you 001 that things arent great but the media betrays it as being apocalyptic. I told a family friend last night this and she didnt believe me because she watches CNN every night and all day at work. She drives a Honda and says that Americans dont build good cars and Toyota and Honda dont have recalls. I laughed at her and told her to do more research. She has been brain washed by the media that noone else builds good cars and this is far from the truth. She didnt even know Mazda was Japanese.

rocker - 12/8/2008 11:56:29 AM

+1 Boost

Great comments. Some of the best I have ever seen on this website.

sholemon - 12/8/2008 9:39:21 AM

+1 Boost

My bro is in the market for one...it has kind of become a waiting game because he is essentially just trying to see how low things will go, but they are already starting to look good for him.

veyron1001 - 12/8/2008 9:40:33 AM

0 Boost

Yes a used BMW 3 series.

NItePhire - 12/8/2008 12:19:38 PM

+1 Boost

I agree with you for the most part. Always remember thought that all media make more on bad news than good. Good news only last or seems to last for a short time. Blow up a building and you are on tv for three weeks or more.

bitschaser - 12/8/2008 10:37:23 AM

+2 Boost

My profession involves advising the ultra high net worth and they are not spending money either. They could typically drop $100k on a new car and not even notice, but they're not spending a nickel. One client even said he needed a new car and was going to buy a Camry because he felt bad rubbing people's noses in it if he shows up in a new Aston. I was also thinking of getting a new car and while it would certainly impact my finances I can afford a new car and have decided to hold off for a year. I expect we'll see a consolidation of dealerships in the next 12 months as a result of this thinking. The small Porsche dealerships that shift 50 cars a year just can't stay in business in this environment.

dumpsty - 12/8/2008 11:44:15 AM

+2 Boost

Such a good question. Since most people believe that many car sales are planned events...which they are not.

The winter season has got to be one of the hardest quarters to sell new cars in the US. I think sales figures were already going to be down. But since it's harder to get credit for anything these days, catching the occasional window-shopper isn't quite that easy this year.

If I did have the money, I would be trying to take advantage of my local cardealer's pain...looking for a desperate deal with $1000s on the hood for a car I'd be willing to pay MSRP for. Of course, I would not be looking for the cheap stripped down model that nobody ever wants. I would be looking for the loaded trimmed model that nobody can afford today.

vonbeeler - 12/8/2008 11:54:32 AM

+3 Boost

Yes. This is a great opportunity to be a buyer. The deals on equities, homes, and cars are excellent. You do not want to be a seller now as you will take a beating. I just bought an 05 Range Rover, one owner, with 30k miles in perfect condition for $27k. Car stickered at over $80k. I should be selling my wifes Infinity QX56 as we don't really need both trucks but I know I wont get much for it so we will just keep it.
Yes things are bad but the press just dramatizes things and makes it self fulfilling.

shoes - 12/8/2008 1:23:08 PM

+2 Boost

I would love to buy a Porsche 911 but everytime I inquire about the value of my trade, it drops another $5,000 in value.

JWalkerLegrande - 12/8/2008 1:35:32 PM

+1 Boost

Funny I have a friend who's been looking for a Chrysler Aspen Hybrid (I know...) for the past month or so and he could not get a competitive bid yet.

Any thoughts ?

lewishamiltonpimp - 12/8/2008 1:49:48 PM

+3 Boost

I just ordered another 335i.

$500 over invoice.

LexSucks - 12/8/2008 2:25:32 PM

+1 Boost

I'm sorta holding out for a decent car that has a dual clutch transmission

FerrarisR4me - 12/8/2008 2:49:21 PM

+2 Boost

I would definitly buy right now if I had the money/needed a new ride. It is def a buyers market and you could probably walk in and make a lot of demands. Same with housing. Great time to be a buyer.

motor1 - 12/8/2008 6:52:35 PM

+1 Boost

Yeah I would hopefully like to get my hands on the all new BMW 750i soon

S4cabriofoxone - 12/8/2008 9:33:59 PM

+1 Boost

I was planning on getting one this year but will be taking the plunge next year instead. It could be around the first of the year, or it could be more towards the fall, depending on whose car it will be.

iBimmer - 12/9/2008 5:28:27 PM

0 Boost

Yes, and just did. Bought an M5.

And oh, bought the new iPod Classic as well!

Screw the economy thingys. Live your life to the max!

-M

usa1pride - 12/9/2008 10:13:23 PM

+1 Boost

I baught a new silverado. figure if the big 3 go under i want one of the best american truck made. i still have the last land boat gm made 1996 buick roadmaster. always been a gm man. and i just hope and pray they can get through this. cant see myself driving something made overseas. bad enough the tv i watch was made there. chinese making a big screen and a full size truck.. lmao thats funny

chidoc - 12/10/2008 10:19:27 AM

+1 Boost

yeah actually a LX570 I hope to get a good deal on this gas guzzler!

keepitreal - 12/10/2008 4:26:25 PM

+1 Boost

While my credit is good and I could buy a vehicle, I do admit I'm more cautious about spending now than before. I'd like to buy a vehicle for our teenager--a nice used one--but with the ecomomy down, jobs at a premium (my firm just tightened it's belt and spending), I'm not cautious merely by press reports. I see it everywhere....so why rush out and spend? I'd rather wait to see what the new year brings....new Prez, and who knows what early changes that will usher in for the new year?

tonym - 12/14/2008 8:52:32 PM

+1 Boost

I will buy a new car after Xmas (a Subaru WRX for $40K) when the 09 manufactured cars hit the showrooms.Are most cars in the US bought outright or are they leased? From the deals I have seen on the websites of the big makers cars seem to be very easy to get and cheap.Here in Australia they are very expensive and you cannot lease unless you have a business.