Buying Your Dream Car.
It’s that time of year again when heads are filled with dreams of your dream car, your dream house or perhaps that dream vacation?
The end of the year is around the corner and the festive season is coming. Does it make sense now that it seems everyone is putting prudence ahead of more flash and dash?
The temptation came on strong because, my old trusty Honda Accord suddenly lost its brakes. This has been the most reliable car I have ever had – and I’ve had plenty – from the fiercest racing Mini ever to those luxury mobiles and the cheapest clunker on the planet.
I’ll admit, one of the most desirable cars for me is the Lamborghini Miura.
A trip to the local car dealerships offered little clues to lower car prices. But the number of free and available sales people were quite disconcerting – you know, the way they all look at you hungrily?
But I was surprised by the number of trade-ins and the exotic cars for sale at the bread and butter type of cars beside them. At the BMW dealership a particularly attractive black Porsche 911 GT3 2006 was proudly available.
The GM dealership offered me a special deal on a Cadillac Escalade lease. And yes, this was another confirmation that all is not well at the dealerships. 3 months free and 0% financing was waved at me for the Caddy. The Porche was offered at 10% less than sticker price. Walking out the door got another offer of an even lower price or more perks!
I think I’ll fix my trusty old car and wait another few months. The reason? New expensive vehicles are an expensive devaluating asset – in other words, they are significant liabilities. There are real investments now that can be found at much better deals – terms and prices. Yes, I’ll look for more investments at this time and then perhaps splurge on a dream mobile next year.
If you enjoyed this post, make sure you subscribe to my RSS feed!
