Buy Now or Wait?

[The Critic]

The Saturn is getting old and I am tired of fixing the small problems which keep appearing.

Since I will need a car full-time starting Sept. 2010, I suggested to my parents that we consider purchasing a car before the end of this month. The idea is to buy a new car for my mom so she can have something reliable as a daily driver (since she accumulates 20k/yr) and give me the Saturn.

With the record low sales this year, I think some dealers may be willing to make some good deals towards the end of the month in order to boost their sales figures for the year. Therefore, it may be a good time to purchase a new car.

At the same time, my parents want a mid-sized sedan and there isn't anything in that segment right now that is truly outstanding. The 2011 Sonata that is launching next month appears to be very promising, but it will only be offered in four-cylinder, will likely be priced high for a while and has me concerned about potential first-year bugs since it is a complete redesign.

At the same time, I do not want to have buyer's remorse. What if the new Sonata turns out to be miles ahead of its competition? Then I will feel like a complete idiot and wish I had waited.

What do you guys think? Should I see if I can find a good deal next weekend and buy something? Or should I just wait it out and see if the Sonata changes the landscape? Because other than the Sonata, I don't foresee any major changes to the mid-size segment within the next six months.

Thanks!

 

[Shannow]

Originally Posted By: The Critic
At the same time, I do not want to have buyer's remorse.


How would you feel buyer's remorse for a car you didn't buy ?

You're doing them a favour by taking that (potentially) unreliable Saturn off their hands in the first place.

 

[javacontour]

There is also an extra deduction on new cars this year if you pay sales tax. The sales tax on a NEW car purchase is deductible even if you don't itemize.

 

[ChiTDI]

Originally Posted By: javacontour
There is also an extra deduction on new cars this year if you pay sales tax. The sales tax on a NEW car purchase is deductible even if you don't itemize.


For 2009 or for 2010?

 

[demarpaint]

I can't give tax advise, but the end of any month is a good time to buy a car, the best deals are had at the end of the month. December tends to be a very good month for making deals.

 

[HyperJinx]

I have always found good luck with deals after Xmas and before Jan.

 

[Zaedock]

I'd look for a good deal on a 2009. Like HyperJinx said, next week is great time to buy.

 

[asiancivicmaniac]

I heard that December, on average, has some of the lowest car sales compared to other months of the year. You may be able to get a really good deal, especially with the way things are going now.

Is there anything at all that your parents like?

 

[PT1]

GM has their red tag sale going on. There should be some 2009 Malibu's out there to pick from. Likewise what about the Fusion?

Plus...since you don't "have" to buy right now why not shop and if the deals are great buy...if not don't. I would pick a suitable car from 2-3 manufacturers with the option package you want and shop via internet/phone first. Find the dealer who has whet you want in stock and go make your best deal late afternoon on New Years eve. Just tell them they either cough up the deal or you walk. You can also go to KBB and find the trade value of the Saturn and mark it up 20% and tell them you need that much for your trade.

 

[javacontour]

Originally Posted By: ChiTDI
Originally Posted By: javacontour
There is also an extra deduction on new cars this year if you pay sales tax. The sales tax on a NEW car purchase is deductible even if you don't itemize.


For 2009 or for 2010?


For 2009, which has to be filed by 4/15/2010

 

[PT1]

You can also try this method...it works well. Go on December 30th not 31st.

First before you go:
Find the car you want in the off hours. Go on Edminds and find the invoice price. Go on KBB and find the trade in price for your Satur in Excellent condition.

Drive the Saturn to the dealer...they will ask if you are trading in the car. Tell them no your brother in law is buying it. Make the deal on the new car telling them the amount from KBB (plus $500) on the Saturn as a down payment. Then negotiate all the way to at least invoice minimum. You should be able to get
Call them the next morning and tell them the deal on the Saturn fell through and you really want the new car but need to get XXXX dollars (the down payment number) for the Saturn as a trade.

If they are hard up for a sale they will do it. If they do...you have now minimized the car price and maximized the trade in. It is simply the reverse of their end game.

 

[demarpaint]

I based my post on my experience in car sales. The last week in December is prime time to cut a deal. It also depends on car make and model, but rest assured if you're a buyer this time of year the dealers are willing to cut some of the best deals.

 

[mrsilv04]

Sure, the 2011 may be superior over the 2009/2010 models, but there likely won't be any "deals" on the 2011 model. The dealers will be selling the 2011's to as close to list price as they can, as long as they can.

The dealers are wanting to get rid of their 2009 inventory now... and that's where the deals will be.

I bought my Silverado when everyone was talking about the all new GMT-900 Silverado model. The dealer wanted as few GMT-800 models on the lot as possible when the GMT-900 arrived.

I would not have any reservation about the current generation of Sonata. They've been in production for a few years now, in a new plant. I've driven them as rentals, and have not been disappointed.

The 2011 will likely have more recalls and more glitches. I refuse to buy a first year of anything that's a completely redesigned model.

 

[JHZR2]

Buyer's remorse? there is ALWAYS going to be something better coming along. Planned obsolescence is what the auto industry runs on, and youll never keep up unless willing to waste tons of money.

I would shop the good value cars (i.e. not honda and other companies that do not offer good discounts), and find the optimal vehicle from that. Try to make a deal - right now they want to beef this year's numbers. If you dont make a deal, big deal... the lousy value cars will always be around, the others will always have some deal brewing, and youll always have options.

But the 09 tax write-off is something that I'd be looking at taking advantage of...

 

[opus1]

Originally Posted By: Zaedock
I'd look for a good deal on a 2009. Like HyperJinx said, next week is great time to buy.
+1 You're probably not going to get a better deal than at this time of year. With Christmas, New Year's and general lack of funds due to holiday spending, your local car dealer will be a ghost town next week. Don't trip on any tumbleweeds....

 

[CivicFan]

Originally Posted By: The Critic
What do you guys think? Should I see if I can find a good deal next weekend and buy something? Or should I just wait it out and see if the Sonata changes the landscape? Because other than the Sonata, I don't foresee any major changes to the mid-size segment within the next six months


When you look at the depreciation of the cars, it makes much more sense to buy a 1 year old car for most of the brands. If you don't absolutely need the car now, I would wait till September of 2010 and get a 1-2 Y.O. used car.

 

[Drew2000]

Originally Posted By: The Critic
.....

At the same time, my parents want a mid-sized sedan and there isn't anything in that segment right now that is truly outstanding.....


Check out the Ford Fusion. Excellent reliability and a all-round great car.

 

[The_Jeff]

Current gen sonata is a fine car. Cast a wide net, get local newspapers and watch local tv. Some dealer 100 miles away will have 1/2 dozen old style sonatas they need to dump. A coworker got an awesome deal on a dowdy Sundance when the Neon was coming out: the manufacturer was essentially daring the dealer via their allocation structure to dump as many sundances as possible...

 

[Nick R]

2010 Ford fusion 2.5L FWD or the 2010 Mercury Milan 2.5L FWD.

 

[The Critic]

Originally Posted By: PT1
If they are hard up for a sale they will do it. If they do...you have now minimized the car price and maximized the trade in. It is simply the reverse of their end game.

I would prefer to not play the game and instead deal directly with an internet/fleet manager, which is what I did for the Mazda. Also, the Saturn will not be traded-in.

Originally Posted By: JHZR2
Buyer's remorse? there is ALWAYS going to be something better coming along. Planned obsolescence is what the auto industry runs on, and youll never keep up unless willing to waste tons of money.

Of course better things will always come along, but it'd be silly to buy something today if something light years ahead will be coming out in a week, right?

Originally Posted By: CivicFan
When you look at the depreciation of the cars, it makes much more sense to buy a 1 year old car for most of the brands. If you don't absolutely need the car now, I would wait till September of 2010 and get a 1-2 Y.O. used car.


No used cars, period.

Originally Posted By: Drew2000
Excellent reliability and a all-round great car.


Reliable? Heck yes. Even Consumer Reports agrees. In fact, the Fusions have had a better reliability record than the newer Accords and Camrys.

As for being a well-rounded car, the Fusion falls a bit short of the competition, especially when it comes to available engine choices in all trims. However, it is solid and reliable-- which is what a family sedan should be, and is probably the reason why its sales have been phenomenal this year.

Nevertheless, I'll go take a look at it this afternoon.

Originally Posted By: eljefino
Current gen sonata is a fine car. Cast a wide net, get local newspapers and watch local tv. Some dealer 100 miles away will have 1/2 dozen old style sonatas they need to dump. A coworker got an awesome deal on a dowdy Sundance when the Neon was coming out: the manufacturer was essentially daring the dealer via their allocation structure to dump as many sundances as possible...


Eh, I wouldn't buy a current-gen Sonata when the next-generation one will be arriving in a few weeks. The loss-leader deals won't cut it for me since I'm looking for a car that is somewhat loaded.