Holiday Auto Shopping
"Get out the BIG red bow!"
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A quick trip to the local mall or Target store will confirm that we are now full steam ahead and deep into the Christmas season. Ready or not, here comes Santa! In years past, December has been a decent month for new and used vehicle sales at your local dealer, but all of the talk about the credit crunch, ice-cold housing markets and interest rates has sent a chill through many showrooms that is not showing signs of thawing just yet. There will still be plenty of luxury vehicle gifts given among the wealthy, as well as vehicles bought just in time for year-end tax reasons. So what does that mean for you as a Smart buyer? Good deals might be out there for the asking, especially if you are looking at a vehicle that is toward the end of its model run or on the cusp of being replaced by an all-new model.
But buyer beware, and make sure you spend plenty of time doing all of the required research. A deal that gets the monthly payment in the range you are looking for could be attached to a vehicle that may end up burning you over time from a cost of ownership perspective. Fuel costs are not going to significantly drop, so you better pay attention to the latest EPA ratings. While warranties are getting better for major faults, out-of-pocket fees for regular scheduled maintenance are growing. And possibly of greatest importance is the fact that a vehicle found on the "close-out rack" might depreciate much faster than expected and deliver a nasty shock if you decide to trade in or sell the car well before your last payment is due.
Cost of ownership is a factor that many buyers realize they should have paid attention to only AFTER the damage is done and signatures have been made on the bottom line. Now is your chance to peer into the future and "Chose Your Car Wisely" ... especially in these uncertain economic times.
Posted on 2007-12-10 | Permalink | 
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