If you have cash and or credit right now could be the time to get a smokin’ deal on a car. The WSJ has an article enumerating a number of the deals out there. I do take exception to the Saturn Aura example listed in the post. The Journal crows that a shopper shaved $8,050 off the $22,500 price tag. Technically this is true, but they are factoring in $3,000 worth of rewards from the buyer’s GM credit card. By my calculations that means the buyer spent $60,000 on his GM credit card over the years. That’s assuming a 5% earnings credit on the card. That’s a whole lot of cabbage on your plastic. You can find a similarly themed article over at Autoweek where they also have a list of deals.
Whether or not the car you desire is on any of these lists, I’m sure that any dealer would be very happy to see you . I have to wonder if now is truly the best time to be strapping on a major purchase? I realize that if we all pull back from spending and only buy staples for our underground bunkers the economy will surely crater, but with stock market gyrating like a VU Meter I’d be inclined to hold out for awhile.
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