TIME TO PURCHASE A NEW CAR: With the Current "Economic Issues" with GM (and to a lesser extent Ford). Would you buy one or wait?

  • HndsmKansan

    Posts: 16311

    Mar 27, 2009 7:48 PM GMT
    I have been considering a new vehicle for the last year, but only seriously the last couple of months. Had blown it off because of the economy (and
    the markets), but it really is an interesting time to deal with the weakened
    automotive folks.

    Have you purchased a car recently? I even heard of a dealership offering a "two for one" purchase a couple of months ago. Would you buy a car now considering the economic problems?

    Being the analyst, I usually do my homework and know what everything costs before I ever go in there. If they try and jerk me around with something unnecessary, I jerk them back! This will be interesting.....
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    Mar 27, 2009 7:51 PM GMT
    I'm seriously considering buying a Jeep.
    I think the one thing to be cautious of, is the dealer stating "our" new incentive pricing is our best offer. Meaning there could be no more "dicounts" - the still have wiggle room.

    But this might be a better time to take the "incentive" price but ask for upgrades on options and no charge as opposed to trying to get them to knock off additional monies.


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    Mar 27, 2009 8:31 PM GMT
    I'm also looking to get a new car. I think it is probably a good time to buy, so long as you can get a decent credit deal. The incentives are supposedly high for this time in the model year. Check out edmunds.com for the incentives on your car. Also check out carsdirect.com and then you will have some leverage over the dealer.

    I am a little less secure buying a Chrysler (Jeep) though. I feel if one of the big three goes, it will be them. Although Jeeps have a lifetime powertrain warranty, you cant transfer it to a buyer. So that combined with subpar Chrysler quality and a possible bankruptcy in the future make me think the resale value on them will be terrible. Jeep makes some cool car designs, but they tend to be underpowered, unreliable and have lackluster interiors IMHO.
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    Mar 27, 2009 9:40 PM GMT
    Yeah, I will have been driving my car for 20 years, this time next year. It's starting to spend more time dismantled in the garage than operational. It's time to add something newer to the remuda.

    Still, there's the prospect of a practical electric or alternative-fuel option coming along soon. I'm inclined to just buy something used as a temporary measure, and save up for a cool new ride in a couple of years.
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    Mar 27, 2009 9:48 PM GMT
    I just bought a used Toyota Corolla. Decided I needed it and price was right. Was going to go with a Saturn but didn't seem as substantial (although I've had excellent luck with 2 of them). Also heard that's one part of GM that might get ax'd if they have to close anything down. I think they're on the chopping block because the unions don't like them. Maybe I'm wrong, seems like the best of the GM line to me, but what do I know.
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    Mar 27, 2009 9:50 PM GMT
    I thought this recent article was interesting, considering Ford had a hand in Jaguar... and then Buick from GM...

    ...Buick and Jaguar (122 PP100 each) tie for the highest-ranking nameplates in vehicle dependability. Jaguar moves up nine rank positions from No. 10 in the 2008 study. Buick, which ranked No. 6 in 2008 and tied for the highest ranking with premium make Lexus in 2007, has ranked among the top 10 since 2003...

    http://www.jdpower.com/autos/articles/2009-Vehicle-Dependability-Study-Results/page-2

    I am a fan of the Mustang (having owned 3 over the years, especially convertible) and F150 truck (I like the Nissan Frontier better today though). I'd love to own a Jag, but has typically been out of my price range icon_neutral.gif

    Any thoughts on the new Camero coming out from GM icon_question.gif
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    Mar 27, 2009 9:56 PM GMT
    I have a personal dislike for Ford, would not buy one out of principle. Had one and all sorts of problems and they took the attitude, too bad! I showed them, I bought Toyotas and they filed for government protection. Customer service is NOT their forte, which is evident by the mass exodus to foreign. You thinking domestic or foreign or either Hndsm?
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    Mar 27, 2009 10:03 PM GMT
    I recently bought a 2003 Pontiac Vibe, which is the first vehicle I've purchased since buying my Dodge Ram pickup, brand new, back in 1996. I had intended on buying a new Toyota Yaris, but I decided that I'd rather not spend so much. I'm completely delighted with it. I'm pretty sure it rides a lot smoother than the smaller Yaris, and I'm calculating from 27.5 to 29 MPG on every tank of gas.
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    Mar 27, 2009 10:19 PM GMT
    justinono saidI thought this recent article was interesting, considering Ford had a hand in Jaguar... and then Buick from GM...

    ...Buick and Jaguar (122 PP100 each) tie for the highest-ranking nameplates in vehicle dependability. Jaguar moves up nine rank positions from No. 10 in the 2008 study. Buick, which ranked No. 6 in 2008 and tied for the highest ranking with premium make Lexus in 2007, has ranked among the top 10 since 2003...

    http://www.jdpower.com/autos/articles/2009-Vehicle-Dependability-Study-Results/page-2

    I am a fan of the Mustang (having owned 3 over the years, especially convertible) and F150 truck (I like the Nissan Frontier better today though). I'd love to own a Jag, but has typically been out of my price range icon_neutral.gif

    Any thoughts on the new Camero coming out from GM icon_question.gif


    Yes I quote myself because...

    FORD

    Found On Road Dead

    Bummer icon_rolleyes.gif

    Still... I like icon_smile.gif
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    Mar 27, 2009 10:24 PM GMT
    Check with Pinny 'cause I think he was helping his folks by a new car.

    Here's what I gave him:

    Here's an overview of the manufacturers' deals for the month:
    http://usnews.rankingsandreviews.com/cars-trucks/Best-Car-Deals/

    And a good website for "should pay" suggestions and vehicle reviews:
    http://www.edmunds.com/

    I'd like to get a pickup while things are slow and there are deals to be had.
    But the Ford is the best deal (new model, $3k rebate) and it's the one I least would want.
    D'oh.
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    Mar 27, 2009 10:27 PM GMT
    I'd go with a foreign car. Honda/Toyota.
  • farfle

    Posts: 105

    Mar 27, 2009 11:34 PM GMT
    I'd go with Ford (Fix Or Repair Daily is what we used to say), the only domestic manufacturer not to take government bailout money.
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    Mar 27, 2009 11:37 PM GMT
    bought a mercedes c class in October right when the cluster f$%& began. Im sure dealerships in all car classes are adamant about making a sale even if it cuts into their margins. U can become better educated by finding the wholesale car cost reports online. Carcostcanada.com helped me but there might be something else for Americans. I think in this economic climate u would have better negotiating power.
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    Mar 27, 2009 11:53 PM GMT
    Why wait? Whether you "want" or "need" a car, now is a pretty good time to buy. Inventory is piling up. Many new cars are still sitting at the ports because dealers can't sell them. Just make a reasonable offer and I'm sure any dealer won't put up a fight.

    As for which car.. that's entirely up to you. Are there any particular cars you are interested in? What features/qualities are you looking for? Price range?
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    Mar 28, 2009 12:02 AM GMT
    Waiting as long as I can. Too many changes coming up.
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    Mar 28, 2009 12:22 AM GMT
    I'll keep what I've got and keep them serviced. They are nowhere near the end of their lives yet. Not wild about many of the new models. Prefer older classics.
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    Mar 28, 2009 1:12 AM GMT
    HONDA...yeah I said it even me.
  • dionysus

    Posts: 420

    Mar 28, 2009 2:23 AM GMT
    i just bought an 07 vw rabbit for 14500, trading in my 99 dodge ram 1500, 105k, yellow, magnum v8 for 3500. and nothing says happy like my little rabbit which is lower on insurance, twice the gas mileage. and its a freaking 07 with 17k miles so i still have ALL the warranties, and its certified, so im completely covered, except for random wear and tear until about 2013.
    icon_eek.gif
    thank. you. baby. jesus.
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    Mar 28, 2009 2:27 AM GMT
    Ford is the one to watch. They've been improving so much they even are dead even with japanese imports now. At least according to Consumer Reports & others. Ford has some of the most promising models: Fusion Hybrid, Upcoming Taurus, Fiesta a year later. Ford Flex is SUV of the year.

    Of course Fords still have worse resale values compared to Honda/Toyota . Not something they can fix over night. But if you can get a better initial deal on a Ford...... it's a tough call. A Ford Fusion SEL for $22,000 vs a comparable Accord EX-L for $25,000.... all depends on how long you plan to hold onto the car.

    For me: F*ck the Americans & the Japanese. VW Golf GTD for me icon_cool.gif

    Whenever it finally comes....
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    Mar 28, 2009 2:47 AM GMT
    I will never buy an American car . Buy one and you end up with a high quality piece of shit . And you know it is a piece of shit when no one wants one . I want my investment to last . My next truck will be a Toyota just like the last oneicon_biggrin.gif
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    Mar 28, 2009 4:50 PM GMT

    Just got a new 2009 BMW 750Li for my work car. Black Saphire in color. I have been buying from the dealer for 30 years or so and they cut a pretty good deal. They are just trying to move cars to remain afloat.

    I run quite a few commercial vehicles but we have held off on replacing those. Just aging the fleet.
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    Mar 28, 2009 4:55 PM GMT
    I recently bought my father a new Ford Escape for his birthday. The purchasing experience was a breeze. I found the dealership to be very flexible in terms of price and they bent over backwards to provide great service. I'm not advocating a Ford necessarily, but simply putting it out there that I think dealers are willing to cater to the seller a little more these days... (but my Dad loves the vehicle)

    I drive a Toyota 4Runner and had it in for regular service a couple of weeks ago and noticed that the showroom was a little more empty than in the past -- seems like a buyer's market.

    In terms of quality, I've owned American (Jeep and Ford) and Japanese (Honda-Acura-Toyota) vehicles and have had great luck with all of them.
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    Mar 28, 2009 4:58 PM GMT
    Well unless you are ready to pull the trigger, wait until April. March deals are all up Tuesday night.

    Like Beaux said, I was out and about with the parents this week and it was absolutely painful. Dodge, Chrysler, Ford, GM, and I think Nissan all have employee crap + warranties + discount + cashback + a bunch of other stuff all before Tuesday. Car places are kinda crazy and they are pressuring you like I have never seen. I have only negotiated 4 cars (not including this one) in my life, but it was bad. They literally dropped the price on a Dodge Journey (5 miles), considered used, by 1.5k if I took it that night out the door. I said, no bc if I buy a new one I get a fully covered lifetime warranty. FOREVER, that is too good to pass up.

    But know that if you go anywhere besides Honda or Toyota before Tuesday you are going to get SMASHED. It was insane, at least here in Cleveland.

    I also went to Toyota and Honda, as a lot of other people, I like there cars, but I got a self-righteous prick attitude from them because they have 0 deals. They have like 1 on the Camry and another on the Rav-4, that is all. I am so frustrated. I couldn't believe that in these times they offered nothing. In fact, the Toyota Venza for a 5 year lease with 3000 down was still going to cost my parents 380 a month, that was after I negotiated the price a bunch down and got it to include tax. I just thought it rude, grant it, it wasn't the sales person's fault.

    All-in-all, I told my parents to wait until Wednesday/Thursday and see what the April deals bring. March was a bit insane, but it didn't bring some miracle financial solution so April shouldn't be a car-catastrophe. My advice, wait just another month.
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    Mar 28, 2009 5:03 PM GMT
    Ford is the most viable US car maker. GM brand names might continue under different ownership if the corporation fails, but difficult to predict what that might mean regarding warranties, parts & service for cars purchased prior to a GM collapse. Chrysler is in very bad shape, no telling what will happen to it's car lines, including Jeep. I wouldn't buy anything Chrysler.

    I doubt Toyota or Honda will ever fail, so they should be safe bets. German makes are also fairly stable; the Germans would never allow either M-B or VW to go under. Porsche is also fairly secure, and BMW looks likely to survive, too. US gays will always keep BMW afloat... LOL!!!
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    Mar 28, 2009 5:06 PM GMT
    Just put 4 new tires, timing belt and water pump on my 2002 Acura TL-S. 80,000 miles and never gave me a day of trouble. And, it's almost paid off. Not the lastest model, but I plan on driving that bad boy into the ground.

    American car makers can take their desperate incentives and shove it up their ass. And before you accuse me of being un-American, be aware that I once owned a Jeep Wrangler while serving in the military. 2 months after buying the fucking thing, I start getting parts recall notices in the mail. Yes, this is based on one bad anecdotal experience, but that was enough for me.