Top Four Reasons Not to Buy a New Car Right Now!

As if you did not need the top four reasons as to why you should be wiser and hold off on that new car purchase, I aim to demonstrate exactly why! The economy is daft, at the present. Many people are losing their jobs every day. In fact, November of 2008 posted the most job losses in nearly thirty years, a nice round figure of over half a million of those who were gainfully employed, but opened their locker, or arrived at their cubicle to find a pink slip next to their holiday greeting card. And for those who thought that their holiday bonus may tide them through the yuletide, many are finding that the businesses and companies that they used to be employed with are so strapped that they are not even issuing bonuses in many cases. So yes, indeed, making a whopping commitment to purchase a new car is not the most educated decision that one could make right now, all things considered. And if that did not convince you, these top four reasons aught to. Some Car Companies May Be Out-of-Business Come January The ‘Big Three’ automakers are on the verge of collapse, and if this is allowed to happen, hundreds of thousands of people will lose their jobs in the United States, and recent estimates are coming in that bode even more will lose their jobs in Canada. So buying a new car may not be your best option right now, especially if it is an American made car. Because what if the company that made your car sinks under the financial threshold and you left holding the note on a car that is now worth less than half of what you paid for it, and has no valid warranty? The Best Deals will Arrive During the New Year If you are able to be patient and to hold off, and weather the storm so to speak, you may find that the best deals take the light of the day during the early part of 2009. As car makers and dealerships alike scramble to liquidate their excess inventories—which are at all time historical highs—deals that have never even thought possible before will emerge. Some car makers will even be happy to take a nice loss on their sales, just to move units and make room for next year’s newer models on the car lots. Think Cars are Stocked up Now? Wait a Few Months! Like the above reason, this one goes hand in hand. Think the dealers are offering great deals now? Wait until they get the new deliveries in for next year and have to get rid of their excess inventories! Then you will find deals like never before, ones that offer the best prices to ever be had on new car. The Economy is Unpredictable at the Present Finally, the economy is so unpredictable at the moment that if you do trade in your older, already paid off car for a shiny new one that comes with a hefty monthly bill attached, what happens if you too get pink slipped from your job? It’s best to be patient and ride out the recession, and then make a confident, educated decision at a later time.