The unemployment rate in America is the highest it’s been in 25 years, and more jobs are disappearing by the day. It’s a chilling, unsettling time in which many people are scrutinizing every cent they stockpiling and spend cash. New-car sales have fallen off a cliff, but now may really be a great time to purchase. Here’s why.
There Are Amazing Deals to Be Had
Everyone understands the U.S. auto industry is in trouble, but few are aware of the fact that import-brand automakers are also in dire straits.
Why try to stem that tide yourself? Because when car companies start to panic, their dealers start to panic. And when sellers start to panic, deals sprout like weeds. Just as a housing crash is an opportune time for home buyers to get great costs, now is actually a good time to get a car when you can shake the cash loose. Turn on your own TV, and you’ll see that anyone selling cars has juicy deals to entice buyers into the showroom, including a huge number of dollars off and cut-rate financing–although be confident to read the fine print because that’s often reserved for the exclusive few with close-perfect credit. Regardless, it is a buyers’ market for more than just houses.
Automobiles Now Are Better than Ever
GM has shuttered its high-performance vehicle operations, and businesses from Audi to Honda are scaling back or canceling their racing involvement. Nearly definitely for performance-car enthusiasts and maybe for all consumers, we might be nearing the end of a golden age for the auto.
Recessions Are Like Forest Fires–Only You Can Prevent Them
Capitalism depends on people spending money. That is we might be seeing an extra few dollars in our paychecks in 2009 and why most folks had a $600 credit on their tax returns last year. That money is supposed to be spent to jump-start local markets.
Much more than mere people employed by car companies would be impacted by the fall of the auto industry. The satellite business of suppliers surrounding the automakers supports additional millions of Americans, who in turn support a large number of businesses in their communities. If nothing else, an infusion of your cash, even if not spent on a national brand, gets money into circulation where it matters most–your neighborhood.
The Only Guarantee Is Uncertainty
Obviously, there are a lot of reasons not to purchase an automobile now, also. No one wants to end up the Depression-era archetype standing next to his shiny new Duesy with a hand-painted cardboard sign that reads, “Buy this car for $100.” And now’s probably not the time to raid the college fund for a midlife crisis Vette. These are uncertain times, and the proper course of action is different for each of us. But dread need not scare customers away from the showroom. Everybody needs a brand new car sooner or later, and in today’s market, earlier might be smarter.