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The numbers are coming in and it is ugly. You'll soon see great deals on new and used vehicles, especially when they try to unload inventory and get their numbers up for Q2 (April 1 - June 30).

Use caution about taking on a new payment. Economic conditions will be difficult for the next three years.


 
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If you absolutely must, and you have secure income - but you have a ten year old clunker you are driving, and you can wait, I would wait. Expect to see a "cash for clunkers" incentive like in the past, to get the automobile industry going again.

Most people are not going to just jump back into the pool if they don't have to and the manufacturers were hurting well before CV - that is the major reason I was laid off.
 
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I’ve been driving my wife’s accord with 175,000 miles on it. Having to haul tools, parts, supplies, etc is going real old.

But I can beat the gas mileage and it’s been paid off for years.

I really want a truck but the thought of a $500 a mth payment makes me ill.

I can see prices dropping, incentives flying in, and used car prices plummeting.

The prices for vehicles this last few years has been asinine.
The market needs a correction.

Too many people in the construction/trades businesses that are booming going out and buying $70,000 trucks with no regard for how the economy changes.

It was time for a market correction.
 
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I was very close to buying a new rig on Monday. Not because I need one but because I want one. I currently drive a work truck and it's nice, but tbh makes me feel reliant and I've been craving some independence. Recently paid off some bills and came upon $400 a month extra, so I told em "hey I have a nice truck, if your numbers don't match what I want I walk." It worked out for me, but I reflected with my wife and determined I was just feeling edgy - not a smart move right now.

That being said, my wife gave me the okay if I can find an old Apache in our price range.
 
I've been shopping for the last several months (except for the last 3 weeks) seeking 'what's out there' /'what's the cost'/etc. After whittling down my 'under consideration hot list' to about 4 or 5, I was getting to actual $$$ plus my trade in.

Started watching the videos on 'how to avoid paying extra fees' etc. One guy had a great short list of how to not get screwed *again* and his #1 tip was to identify what was the most pressing issue with why you might be unhappy with your current ride. I watched his vid a couple times & came to the conclusion that in reality, there was NO identifiable rational reason nor was I unhappy with current rig. 50000 miles, paid off for years now, & perfect running condition. That means my natural 'resistance' to the various other sales pitches is not subject to trickery. Almost.

So I'm not currently in the market.
Plus, there's a couple models pending I've been waiting for years, that are/would have been---introduced this Spring/Summer/Fall. We'll see.
 
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I recently (month ago) looked into one of those "72 month, interest free" deals....
.... you need to pay list ( o% deal doesn't qualify for $X000 off or cash back).

:rolleyes: Seems like, "no interest" is actually dealership speak for either' "prepaid interest"or "Not interested in your buisiness". :mad:






I wish they still made the AstroVan
 
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Vehicle sales have been on the precipice for a couple years now and this pandemic has crippled the industry. Watch for crazy deals soon just to move inventory. The second hand market is absolutely still right now and the new car market isn’t far behind.
 
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I can't see anyone wanting to take on another monthly payment for quite a while, espcially if they have been out of work. Definitely a tough time for the auto industry.
 
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I recently (month ago) looked into one of those "72 month, interest free" deals....
.... you need to pay list ( o% deal doesn't qualify for $X000 off or cash back).

:rolleyes: Seems like, "no interest" is actually dealership speak for either' "prepaid interest"or "Not interested in your buisiness". :mad:

Paying MSRP is usually part of the deal. They feel they need to make a profit somehow. The best way is to pay cash - that is what I have done for decades. If I can't afford it with cash, I don't buy it. I have never bought a new car either. I buy low mileage cars that already have depreciation included in the price off the lot.

My current daily driver, a 2014 BMW X1 cost $46K new - in 2015 I paid $26K used (46K miles on it). It now has 110K miles on it and I will keep it until it has maybe another 40-50K on it and starts needing repairs/maintenance that cost more than the vehicle is worth. No major problems with it yet (besides getting rear ended - it was repaired and insurance covered it). Right now, I put maybe 50 miles a week on it since I am unemployed and have nowhere to go.
 
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I have been watching the used market, especially for older cars and trucks, and not really seeing the deals, but the ceiling is starting to crack, folks are starting to see those old cars and projects as convertible to quickly needed cash with the economy in the dumps!
i'm looking for one of a few specific 1950's cars and this should bring some of the better ones out of the garages now!
Wouldn't mind having a Jeep CJ-5 ether! ;)
 
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My 7.3 has been paid off for many years. 200,000 and still runs very well and the body is straight. If or when the time comes I would rather dump 10k into motor/tranny than pay for a new diesel truck. Daym they are expensive.

Yeah, besides my daily driver, I have a one ton flat bed 4x4 that needs a new transmission (fifth gear slipped off the splines) and some other work (steering/front axle and brakes). I also have a 4x4 Toyota pickup that needs a new clutch - but I want to put a diesel in it instead. Right now, being unemployed, I don't want to spend money on them, but if I am going to spend money on a rig, it will be on those rigs and not a new one.
 
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Big truck market is down too - most of the trucking industry bought a lot of trucks the last couple of years, so the market is saturated - especially for long haul. Vocational trucks (garbage, dump, concrete, utility, etc.) wear out faster if they are being used, so there is a more constant demand - but still...

DTNA (largest truck manufacturer) shutdown for 3+ weeks, no word yet on whether they will still shutdown in July like they usually do. They laid off a bunch of IT people too - as in hundreds - set their projects back months, some are on hold. When a project winds down they let the people go - this is why they mostly have "perma-temps" in IT. They announced last year that they would let 10K people go around the world. Cummins laid off a bunch of people before CV.
 
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I've been watching and waiting for awhile now as well. We have two cars that will need to be replaced. We have a 2004 Jetta TDI (diesel) 142k miles which is great! 45mpg + on road trips. The problem is we have a 3 Year old that keeps growing. So when we go somewhere, no on else can sit in the front seat with the car seat in the back. The front seat is pushed so far forward there is no leg room. My wife is getting tired of chauffeuring us around. :).She went to the auto show with me and sat in pretty much everything and ended up liking the Forester best. She is really wanting all the new gadgets.

My 98 Buick LeSabre I love! Not even 60k miles on it. :D The problem again is that my 3 year old is going to need to switch around to a forward facing car seat soon. The Buick doesn't have the tether anchor to attach the car seat too. :( I called the Buick dealer asking if I could get them and was told no. He said to look on Ebay. But then he wasn't sure if I got them that way, if he would be able to install them. I looked on Ebay and didn't have much luck. I guess the old people Buick was targeting didn't plan on them having kids/grandkids in there? I was wanting to get a SUV/truck anyway. Starting to need to haul bikes and such anyway. 4x4 as well to get out camping. But it will be a mid 2000's since I don't like all the new gadgets.

So long story short, we will hopefully be in the market once the dealers start to come down on prices. We are able to hold off for at least another 6 months or so. Or as long as my little guy doesn't grow too fast.
 
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Interesting the timing of these better car deals.

I am in the market for a new car. I'd buy today if the right car availed itself.

There are very few things that I insist on. Fog lights and XM Radio. In the models I'm looking at, both options are not available on the same rig without jumping up 10-grand for heated leather seats and a sunroof, when I don't want either of those options

So...Simple options that many folks want, they make them unavailable on the models that folks are looking to buy, and then they cry because they can't sell cars. More of not listening to the customer. :confused:
 
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I have been watching the used market, especially for older cars and trucks, and not really seeing the deals, but the ceiling is starting to crack, folks are starting to see those old cars and projects as convertible to quickly needed cash with the economy in the dumps!
i'm looking for one of a few specific 1950's cars and this should bring some of the better ones out of the garages now!
Wouldn't mind having a Jeep CJ-5 ether! ;)

Same here! On the hunt for a quality 1955-57 Chevy truck, 1968-69 Chevelle project or fairly finished 1959-63 Coupe Deville.
 

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