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question regarding the economy and cars

is now a good time to buy a car?

i'm thinking current interest rates will be low and i'm trying to think ahead since i'd like to trade my car in before it starts costing me ass-loads of money to fix it... i just can't decide whether it's smarter to do it before or after i move this summer.

if you can afford to, yes. My friends dad just bought 3 new cars, her, her sister and him and got a great deal on them. Potentially they'll be so desperate to sell you one you can perhaps get some good deals

expect gas prices to go up in the summer, plan for the worse; yes, it's a good time to buy an american vehicle, specially if your transport system sucks; otherwise, I'd suggest you take the sub/train/___ alternatively.

Gas will go up, but you can get tax breaks on hybrids like crazy. And yeah, interest is down too. Do it smart, Myra!

Ian, that's kind of what i'm hoping. i know i owe more on my loan than my car is worth right now. i'm thinking i'll be less likely to get fucked with the trade-in amount since they probably just want the sale.

Enrique, that's my ultimate goal... but while i'm still in Wisconsin and hunting for jobs in other states and preparing to move, i can't really live without a vehicle.

how much is gas expected to go up this summer?

i'd lovelovelove a Hybrid but unfortunately most are out of my price range.

If you are planning to buy a car in wisconsin and move to another state in it, i would be sure to check everything involved in this. I can't say if the USA is the same as Canada, but here some warranty issues become null once you move the car away from the original dealer that you bought it from.

Can't give you a number on the gas going up, but rest assured it will. Summers are always like that because of larger demands.

quote:

Originally posted by l�cid Enrique, that's my ultimate goal... but while i'm still in Wisconsin and hunting for jobs in other states and preparing to move, i can't really live without a vehicle.

right, but I don't really know how good transportation is in Milwaukee. I'd say it's above average in Chicago (compared to places like LA and NYC, which are up to par imo). Anyways, I understand where you're coming from, try living without a car in the souf!

quote:

Originally posted by l�cid how much is gas expected to go up this summer? i'd lovelovelove a Hybrid but unfortunately most are out of my price range.

Maybe in the short term, but think big.

most of the people that complain about the transport system in chicago are majority of folks who live in the 'burbs'. It's actually very hard to live in the suburbs of cook county without a vehicle, according to some friends of mine.

ps: myra, im jealous of the fun you guys had at wmc; god, i need a lawn, a bar, a drink & tons of sun.

quote:

Originally posted by elFreak If you are planning to buy a car in wisconsin and move to another state in it, i would be sure to check everything involved in this. I can't say if the USA is the same as Canada, but here some warranty issues become null once you move the car away from the original dealer that you bought it from.

i'm assuming this is for extended warranties and not manufacturer warranties? definitely something i'll keep in mind when shopping around.

quote:

Originally posted by elFreak If you are planning to buy a car in wisconsin and move to another state in it, i would be sure to check everything involved in this. I can't say if the USA is the same as Canada, but here some warranty issues become null once you move the car away from the original dealer that you bought it from. Can't give you a number on the gas going up, but rest assured it will. Summers are always like that because of larger demands.

In the US this does not apply unless they are extended warranties being provided by the local dealer.

Myra: Get a diesel if you can afford it. The premium for a hybrid is too much. Here is a 2008 Jetta TDI that got 60mpg in real world driving. And this was by a regular consumer and his wife, not the EPA/DOT testing. And if I remember correctly, a TDI is only like 23k.

Yes, but it's an even better time to not buy a car.

yeah, myra get yourself a VW (good choice, man)

You don't really need to get a hybrid, there are plenty of non hybrids that get almost as good gas mileage.

quote:

Originally posted by Clovis You don't really need to get a hybrid, there are plenty of non hybrids that get almost as good gas mileage.

yup you're totally right (now), however 2010 prius comes out next month (which i've already put my deposit on) and its 40-55mpg which is way higher than any tiny compact car (non diesel) right now. 2010 honda insight came out this month doing about 42mpg(decent).

Original poster: if you can wait until 2011 the 4th generation prius will be available, it operates on battery cells for the first 55mi driven which uses zero gas therefore no emissions. In a circumstance like that i'd be filling up a tank of gas every 4 mos (based on my commute and current driving standards).

How much are those going to be?

quote:

Originally posted by Clovis How much are those going to be?

Around 25k iirc at base. What the dealers will order though is a different story.

to be sure its easier to get a better deal on a new car, what with all the breaks and incentives from desperate dealers, than to buy a used car.

that being said, if you owe more than your car is worth, i am not so sure a dealer will cover that just to move a new car. i could be wrong i suppose. kinda depends on *how much* and how old the car is. you drive a VW right? that's the bit that concerns me. VWs that are somewhat old but not very old aren't exactly the most desirable thing - maybe that doesnt matter to a dealer|

also: dont get a hybrid. unless you run a taxicab service you wont see a return on your premium, especially driving cross country

quote:

Originally posted by biznology also: dont get a hybrid. unless you run a taxicab service you wont see a return on your premium, especially driving cross country

+1. Price of gas has to be like $12 a gallon to realize anything worth it. Unless you live in the city. Hence my recommendation to buy a diesel. Awesome no matter what.

lol, i am NOT buying another VW ever again! i absolutely love the way they drive and handle, but the mechanical/electrical problems are just out of hand.

i stopped by a Toyota dealership on my way home from work and it definitely seems like buying new is the way to go with all the dealer incentives. they're trying to get me into a 2009 Corolla for around $300/month but my trade-in value is really fucking me over considering i owe WAY more on the loan than what they'll give me for it... which means i need to rollover the difference into my new loan. not sure if i want to do that at this point. i guess we'll see.

btw the 2 most important things for me at this point are reliability and resale value.

if you have decent/good credit, you'll be fine. salesmen are desperate these days and are pulling more strings than usual to make a sale. i'd go for something brand new and japanese.

I bought a 2009 Mitsubishi Lancer GTS fully loaded. The things my car has is amazing. With Gap insurance and a 7 year bumper to bumper warranty and tax, a little under $26,000.

It is a good time to buy a car if you have a good job.

P.S. i guess this is a good time to mention my new license plates

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quote:

Originally posted by l�cid lol, i am NOT buying another VW ever again! i absolutely love the way they drive and handle, but the mechanical/electrical problems are just out of hand. i stopped by a Toyota dealership on my way home from work and it definitely seems like buying new is the way to go with all the dealer incentives. they're trying to get me into a 2009 Corolla for around $300/month but my trade-in value is really fucking me over considering i owe WAY more on the loan than what they'll give me for it... which means i need to rollover the difference into my new loan. not sure if i want to do that at this point. i guess we'll see.

Make sure they're aware of that fact and that if the deal isn't good enough, you won't take it.

They're really having problems moving cars in the current economy (and that doesn't just go for the Big 3, Toyota reported a loss last quarter), so they've been very generous with the deals and financing options if you've got good credit.

Unfortunately, that also means that they'll have similar problems moving your used car.

As for the hybrids, from what I'm aware, the type of driving that you do is what's going to affect the mileage most. Hybrids are best for city, stop & go traffic, as they recharge when you brake. If you do a lot of highway driving, a regular low MPG might be better for you.

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