Good time or bad time???

I buy a good used car when I need a newer car. Since I have a 03 Jetta with 184K miles and a 05 Prius with 54K miles I won't be needing to purchase a car for quite a while.

Cars are A -> B transportation, a tool for travel. I don't consider them to be a fashion statement and my image of myself is not derived from the vehicle I drive.

 

It's a bad time for me. If I get a 2010, I will be replacing my 2006, which still has a lot of good miles. The bad economy is going to hurt the resale value of my 2006.

Tom

 

Know what it's a good time for? Buying an '09 Prius. Economy is crap, gas prices are low, dealers can't move 'em because of the 2010. I bet I could get a loaded touring ed. for mid-20s.

Too bad I'm fixated on a 2010! I'm still only willing to pay so much money in this economy. If I have to wait, I'll wait.

 

If I buy the gen 3 I will be keeping the gen 2. The new Prius will replace the RAV4.

 

We are adding a 2010 to replace a 2001 Saturn. The Saturn is starting to have issues so we figured its a great excuse to buy a Gen 3.
I think it will be a good time as nothing is selling so this should be a buyers market.

 

If it makes you feel any better, won't the drive off the lot depreciation on an 09 be substantially greater than that of a 2010? and even more 1 -2 years out?

 

I got an invite to the SF Prius event, but I declined because there is no way I will be buying another vehicle in the immediate future. I am hoping that I won't have to sell the Prius I already have. I am able to pay the car payment on unemployment, but if I don't find another job by October I will have to consider selling my car.

 

This Summer would be a very bad time to try for a Gen3. Trade-in value would be dismal on my almost new car, and private party resale would be marginally better.

For some people, the timing will be great - they need a new car, the 2010 suits well, and hopefully they have enough to pay cash or pay most of it up front. Sure glad mine is 80% paid for given these times.

Sometimes it is better to buy a used car. Depends on circumstances.

 

post deleted.

 

Fred, I too saw that article (Used car sales increase as economic outlook worsens), which indicated that there has been an increase is used car values... That is good for me, as I go to sell my '05 Taurus in order to bump up my down payment on the 2010 Prius.

 

I'm ready now. I just wish they would hurry before I have to get something else. I looked at the 2009 model last week and it is nice, but even though the lots are full and sales are down, deals are not forthcoming. Not unless you consider 500 off. I heard they now have a 1000 rebate. To be honest, for that, I'll try to wait for the new 2010 model. Let's get them in the showroons asap. Rick

 

good economy or bad, is there ever really a good time to part with $25K+?

that being said, I can't wait for the 2010s to arrive at my dealer...i'll be right there with my penny-jar

 

This is a tough one for us.

Our his & hers 2002's are still running sweet w/no mechanical problems. They're low miles (mine is highest @ 65k) and we put less than 10k a year on each of them.

OTOH the 2010 is to die for. I'm chomping at the bit to get my hands on one, but the wife is more reserved. She's jittery about the economy, most specifically the possibility of one of us losing her/his job (a worry I don't think is well-founded). She also has early-adopter concerns about the 2010.

I'm taking the glass-half-full view that in the current economy, there at least will be no price gouging and therefore little haggling with sales people. But we'll probably just try to feel things out as best we can, and otherwise trust our instincts on the matter.