Good Time to Buy a Car?

This article thinks that prices are going to start dropping precipitously. Guess we will see. It certainly isn't a time when I'd be inclined to go out shopping for a new or used car.

https://www.carscoops.com/2020/04/carmageddon-used-and-new-car-prices-look-set-to-plummet/

I had to run an errand yesterday and on the way home, saw a brand spanking new BRZ with a temp tag on it. Date was 4/11/20. 

Depends if dealers in your state are open. Here in PA, dealers are only open for parts/service. I've seen that a dealer here and there are open but i'm sure they had to get a special waiver to be open..

We are looking at a new Forte for the wife because low price and 0% financing for a billion months.

I'd venture to say it'll be a wash as new cars aren't being produced.  

I've been looking to trade in my car for a minivan. In  February I was quoted 18,500 for trade, three weeks ago 19,500 and today 20,500. Maybe since it's spring and people are more likely to buy a sports car the value is rising. Unfortunately I can't just sell it to one of the car buying services like car max or carvanna which the quotes are from because they aren't taking new inventory unless you are buying from them.
 

Debated on selling now and waiting to buy when my wife(teacher) goes back to school in the "fall." 

Locals here are pimpin' 0% loans.

As far as buying a used car, I've been watching close and I'm starting to see some Facebook Marketplace ads that have obviously desperate sellers. I've been sweeping some money into a pile waiting for the right deal to pop up. Maybe a 1st gen CRV or an Element or any Asian station wagon.

Cousin_Eddie (Forum Supporter) said:

As far as buying a used car, I've been watching close and I'm starting to see some Facebook Marketplace ads that have obviously desperate sellers. I've been sweeping some money into a pile waiting for the right deal to pop up. Maybe a 1st gen CRV or an Element or any Asian station wagon.

Buy a TSX Wagon. After 8 years, we LOVE ours still.

Friend picked up new Red Abarth last night. MSRP $36,000. Advertised $24,000. He paid $21,000. 2019 model year. 

mr2s2000elise said:

Cousin_Eddie (Forum Supporter) said:

As far as buying a used car, I've been watching close and I'm starting to see some Facebook Marketplace ads that have obviously desperate sellers. I've been sweeping some money into a pile waiting for the right deal to pop up. Maybe a 1st gen CRV or an Element or any Asian station wagon.

Buy a TSX Wagon. After 8 years, we LOVE ours still.

 

Friend picked up new Red Abarth last night. MSRP $36,000. Advertised $24,000. He paid $21,000. 2019 model year. 

Did those ever come in stick or were they auto only? Maybe I'm thinking of the IS300...

In reply to fidelity101 (Forum Supporter) :

TSX Wagon is auto only, otherwise I would have had one on my want list. They're still a really nice car, I'm sure.

In reply to fidelity101 (Forum Supporter) :

Tsx wagon and IS sport cross (traded our 04 on the tsx), are both AT only. 

I have a years worth of mortgage payemnts and barebones living expensives saved.. liquid..

I hate my daily driver..  I am waiting though... I want to be sure I have a job at the end of the year..  yes.. I'm conservative with my moneys...

mr2s2000elise said:

Cousin_Eddie (Forum Supporter) said:

As far as buying a used car, I've been watching close and I'm starting to see some Facebook Marketplace ads that have obviously desperate sellers. I've been sweeping some money into a pile waiting for the right deal to pop up. Maybe a 1st gen CRV or an Element or any Asian station wagon.

Buy a TSX Wagon. After 8 years, we LOVE ours still.

 

Too upscale for me. I want something to haul junkyard parts and motorcycle pieces in. Something kind of scabby.

I'm hoping to score a good, cheap pickup once I've reopened...

I have been watching Gladiator prices.  They haven't dropped to where I would pull the trigger yet.  They still are not offering 0% 84 months on them at this point.

I have yet to see any movement on 987.2 Cayman prices yet.

Gladiators have been $8-10k off msrp before corona and still holding at same discount after corona 

In reply to mr2s2000elise :

Yeah I was hoping today they would come out with the 84 month 0% interest on them.  Instead they came out with employee pricing and 36 month 0 interest.

I saw the employee/36. It's to see if there is movement. I don't think there will be enough movement. 
 

You will see the 84 month 0% on them soon enough. Discounts haven't been enough to give them away. 
 

locally dealers are overstuffed with them 

I think 12k off msrp + 0% 84 month will be had soon 

In reply to mr2s2000elise :

That's kind of what I am hoping for.  I think that would be enough for me to break my never buy a new car rule.  Especially if they are going to let me use their money for free!

Yup. I think you will be in a new car soon enough. 
 

my oldest brother bought a Gladiator Launch edition and my bff bought a wrangler rubicon last year 

both did it before all discounts and are kicking themselves 

if prices come down low enough - my tacoma will go Bye bye- and the Gladiator Mohave will be my first ever American made car purchase . Then again I was actually holding out for the new v8 raptor to be my first 

great time to look at new car next 4-8 weeks when dealers try to blow them out, before lack of supply from factory keeps prices high and stabilizes. 

Well I figure I can sell my stick shift 4x4 4runner for around 6K. 

If I use that money as a down payment and I pick up a gladiator for around 30k.  That should put me at around $330 a month.  That's only $40 more than I was paying for my old 2007 wrangler unlimited.  Not to mention it should hold its value decently especially if I purchase it at a reduced price.

I got two calls today on the Chevy Sonic I am trying to sell.  Stimulus checks are hitting this week...coincidence? 

I am waiting for the used car prices to start going way up. All the cheap stuff is going to disappear overnight, because nobody can afford a new car payment. In the coming years the challenge priced stuff might get like when cash for clunkers was around

I had been shopping for an E400 wagon for about 2 months, we were fairly specific on colors/options.  I had found 3 previously and all were priced at about $50k, on both coasts.  Making offers and discussing with dealers got me to a lowest of $49k on any of them, so I held out as we were in no rush.  Not long after E36 M3 hit the fan a car I had been watching, but not made an offer on, reduced price by $4k.  Smaller high end used car dealer.  I got more pics, spoke with them a bit, ended up getting it for under $44k.  It arrived last week and is immaculate.  I'd say we scored pretty well to get an excellent example of the exact car we wanted at wholesale pricing because of all of this.  

Congrats on the Estate!