Whats good to buy in this economy now???

[Albies5]

Hi,
With this terrible economy -what are some items that are either crazy on sale or you can get great deals on now. Like cars? appliances? i dunno--
we want to get a new car and were thinking that car dealerships probably have great offers now- is that true? anything else a great buy now? thanks!

[disneysteve]

I've read a couple of articles recently saying that the deals on new cars are quite good. I'm not convinced that it is now better to buy new than to buy used, as we always recommend, but if you are really stuck on buying new, now is probably a good time.

[snafu]

Do you think there's a reason people are not buying consumer goods like appliances, furniture, cars etc? The economy had been driven by consumers buying [possibly too much] on credit. When credit froze, they had to stop buying. When they stopped buying factories closed and jobs disappeared. Out of work and out of $$ they are having their homes foreclosed.

The best deal just now appears to be funding 1st your emergency fund followed by meeting your retirement needs.

[disneysteve]

snafu, I think OP's point might be that those of us who have been responsible with our finances might be able to take advantage of everyone else's troubles and get some really good deals out there today.

[Broken Arrow]

I was looking at business suits earlier, and it's crazy. Men's Wearhouse have good suits that are not only marked down (from $500 to $350), but is also buy one get one free on top of that! It ALMOST got me to buy, but I keep wondering if I really need a pair of suits. I mean, yeah, I know I do because I don't have any, and now would be a great time to buy. I'm just being a tightwad.

But yeah, I've read articles as well as heard on the radio that there is now a growing movement among people who are constantly trying to get the best deals possible. Just about everything under the sun is worth a shot to shop around and/or haggle over. It really is a buyer's market right now.

[disneysteve]

Unfortunately, BA, I bought 2 new suits at Men's Wearhouse last year. I did get a good deal, though probably not quite as good as the current offer. If you break down and buy the suits, be sure to sign up for their reward program if you don't already belong. For every $500 you spend, you get a $50 gift certificate. I posted a while back about using mine. Also, they send all kinds of special offers by e-mail that aren't advertised to the public.

[Bernz]

Talking about suits... I have purchased a $600 suit at Nordstrom Rack two weeks ago for $249 on clearance. And this is a fine looking black suit. What about jewelries guys, any bargain jewelries out there. Valentines Day is just around the corner.

[Albies5]

Disneysteve your right- for those of us that have tried to take care of ourselves or already have an emergency fund or even who havent been hit as hard as others- who want to take advantage of the deals out there- i wanted to know whats great to buy now. my husband does need some new suits......
also does anyone know specific cars dealerships/manufacterers who are offering great promos? or even other great things to buy now?

[Broken Arrow]

Thanks for the tip Steve. Yeah, I'll probably end up buying the suits anyway.... I do need it for an upcoming job interview and even for work on occasions. Again, I'm just dragging my feet about it.

Sorry Bernz and Albie. I've read several articles that have mentioned super deals, but for the life of me, I can't seem to find any links now. But, essentially, whatever you can think of buying out there right now, I think if we search long enough, we can find a deal for it somewhere.

[Pitman]

Originally Posted by Albies5

also does anyone know specific cars dealerships/manufacterers who are offering great promos? or even other great things to buy now?

Literally every car dealership lot you walk, you'll be bombarded with dealers throwing different deals at you. Not to mention that you can beat the shades men down for a very low price. I know this site loves to promote living frugally, but I want a new car, yes new, and within the month I'll be buying, well leasing a new vehicle. Car dealerships are practically giving away new cars at this point, especially next month, since they'll be trying to meet their quota for end of the 1st quarter.

Even though I'm completely against their products, if you truly want the best deal, go to one of the Big 3 dealerships, you’ll literally have two or more shades men fighting to help you.

[disneysteve]

Originally Posted by Pitman

I'll be buying, well leasing a new vehicle.

Leasing has always been a rip-off but I've read a number of places recently that lease deals have gotten even worse as the car makers' troubles have increased. Buying is definitely the way to go today, more than ever. Why are you leasing?

[wincrasher]

Actually, now is a good time to buy anything - as long as it is something you want already. Don't buy something just because it is cheap.

I bought a new Honda at the end of Dec for $200 below invoice. I thought that was a terrific deal.

That price on the suits is interesting. It would be nice to have a new suit or two in the closet should the need arise.

[Pitman]

Originally Posted by disneysteve

Leasing has always been a rip-off but I've read a number of places recently that lease deals have gotten even worse as the car makers' troubles have increased. Buying is definitely the way to go today, more than ever. Why are you leasing?

Depreciation factor: I’m buying the 08 model, since they changed the car for the 09 model, I will be given one hell of a deal if I lease. The reason I won’t buy is because of the fact that I’m buying an “older” model. Once I drive off the lot, the car will take a 40% hit value wise. If I lease, I’ll only paying for the depreciation for the car, my monthly payment will be next to nothing, and I’ll only have to put down a small amount.

I do agree with you somewhat, if a person who doesn’t know how a lease works, you will get ripped off, and badly I might add. But how is that different from the millions of people who get ripped off everyday from dealers through financing. Regardless of lease or finance, the shades men will be on the hunt for a sucker.

[Broken Arrow]

So, in other words, you're look at it in terms of a monthly budget hit and upfront cost? What about total cost of ownership? Assuming it's for a car that would realistically last for 15 years (in my case).

My Corolla anyway was listed $15k (yes, we were suckers back then because I now know it can be had for much less), but that comes out to only $1k per year in the cost of the car (before residual expenses are factor in, which may or may not be different).

[Pitman]

Originally Posted by Broken Arrow

So, in other words, you're look at it in terms of a monthly budget hit and upfront cost? What about total cost of ownership? Assuming it's for a car that would realistically last for 15 years (in my case).

My Corolla anyway was listed $15k (yes, we were suckers back then because I now know it can be had for much less), but that comes out to only $1k per year in the cost of the car (before residual expenses are factor in, which may or may not be different).

In your case it would make more sense to finance the car because you intend on keeping the vehicle for a number of years. As for me, I plan on keeping the car for 3 - 3 1/2 years max. In which I'll be looking for a new car directly after, so it makes more sense for me to lease.

[isthisused]

Personally the best deal is always to buy used. and there are going to be fantastic deals everywhere on used cars. Let someone else eat the depreciation.

[disneysteve]

Originally Posted by Pitman

I plan on keeping the car for 3 - 3 1/2 years max. In which I'll be looking for a new car directly after, so it makes more sense for me to lease.

Unfortunately, this is true. If, for some reason, you are dead set on getting a brand new car every 3 years, leasing is most likely the best way to go. Buying new and selling after 3 years and then buying new again, you would get hosed on depreciation.

I guess what I don't comprehend is why anyone would want to go this route, but to each his own. If it weren't for people willing to lease a new car every 3 years, there wouldn't be such a great supply of inexpensive, low mileage used cars for folks like me to choose from.

[DC Metro Crab]

With the latest stimulus plan, it seems 2009 is the year to buy a car, house, or energy efficient appliances. For regular sales, clothes markdowns have been intense at the malls. Great time to buy suits and basics.

[Uneventoast]

real estate if you have enough cash to put 20% down

[biff]

I just got approved for an FHA loan, and I am buying a house that was worth almost 500K in Southern CA. I am putting an offer in for 195K. Asking price is 214K.

Originally Posted by Albies5

Hi,
With this terrible economy -what are some items that are either crazy on sale or you can get great deals on now. Like cars? appliances? i dunno--
we want to get a new car and were thinking that car dealerships probably have great offers now- is that true? anything else a great buy now? thanks!