Overhaulin'

Do you believe the upcoming recession will bring lower car prices?

I am in the market for a car but I think the prices will be lower when recession hits? Poll says 80% of Americans believe we are already in a recession. DOW dropped 400 pts today.

Public Comments

1. Probably won't see a major drop, but prices will likely hold steady for a while as demand doesn't usually increase much in a slow economy, but at the same time, Americans are very reliant on cars, so demand isn't going anywhere either. TheDOW gained back most of the losses after the 3/4 point rate cut. I think it is still possible that the country will avoid a recession, but certainly it will be a rough year or two. Hopefully the Fed Reserve's actions today will help.
2. Prices on new cars have been already lowered (2007vs2008) By atleast 1,300!
3. i don't believe the actual price of vehicles will go down, what will and is happening, the individual car dealers will make you a great deal right now and if the economy worsens, the better the deals will be. car dealers are getting desperate to unload their inventory.
4. Two things: There will only be a recession if Americans continue to buy foreign cars even if they are "Made in America" the profits all go back to their countries! Not only cars but everything from luggage to clothing. For example you can buy a made in China luggage set (probably made from some toxic material) for $80 or a made in America high quality luggage set for $130. The China set will fall apart after a few uses, the American set will last years. The China set will probably be made from some toxic chemical like lead paint and leave your child with brain damage. Why buy the China set? There is no good reason. And no the prices will not drop. There are many reasons as to why they won't but just remember the term Alan Greespan coined- "stagflation".