When is the best time to buy any high ticket item? When everyone else isn’t buying. For example, car manufacturers were offering all kinds of incentives to buy a new car, and dealers were dealing. They were desperate to sell anything. But then along comes Cash for Clunkers. The first few days, when things were still uncertain, it was a good time to buy a car. But as buyers came out in droves, dealers’ inventories ran low and they started charging full sticker price. Why? Because they could. And since their inventory was low and time was short, many buyers purchased a car that wasn’t really what they wanted.
Wouldn’t you rather walk in when there’s plenty of selection and the dealers are willing to do almost anything to sell you a car?
How long have you wanted a convertible? I know this isn’t the time you’re thinking about it, with the weather starting to turn cold, but that’s the point. No one else is thinking about buying a convertible either. This is not a car that you’re just going to drive in the summer. If you bought it in the spring, you’d use it year-round, right? Heaters and the design of the top have improved greatly over the years. The only difference between winter and summer is that in the winter you’ll drive with the top up. That means that people won’t notice that your shiny new car is a convertible.
It would be nicer to get that brand new ride in May when you can use it to full advantage. But is it worth the extra cost? This fall you have a handful of things going for you. First, because of the season, most people aren’t buying convertibles. That means more selection and better negotiating position. Second, it’s time for car dealers to get rid of their remaining 2009 inventory. In fact, some dealers still have brand new 2008 cars on their lots! How much are they willing to dicker on those cars? Third, we’re in a recession. Although most of us haven’t felt it yet, the economists are saying that the graphs are starting to turn in a positive direction. When the recession really does end, there will be a lot of pent-up demand for everything from houses to golf clubs to cameras. Everything that we said we wouldn
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