Since I work at night, I have plenty of time to listen to talk radio 1530 AM and all they talk about now is our recession and the Big 3 US Automakers not getting their 25 Billion dollars from Congress. A lot of experts give advice on the radio show that the US will very likely be in a depression by 2010. Stocks are at all time low. I wonder if investing in a 370z is a good decision right now? Plus its also very badly timed for Nissan to debut their next generation at an economic crisis like right now. Who is still determined to invest in a 370Z when it is available in February 2009?

 

The sky is always falling, you either evolve and diversify or become extinct.

 

You mention investing and 370Z in the same sentence. The 370Z is a vehicle. And any vehicle is a depreciating asset.

I assume you mean buy.

In a recession or depression (little point in debating the difference) cash is king. For those with cash there are some great investment opportunities available: real estate, stock.

If you choose to spend cash on a car or TV or computer, that’s up to you.

 

This is the EXACT reason why I might not want to get it right away in February because imagine what kind of deals car dealerships will be offering in spring/summer. However, wait too long and there goes any chances of financing a car. I really would like to know what kind of sales Nissan predicts on the 370Z.....a 2 door sports car in this economy, come on. I just hope that they over produce so they will have to unload them to us for very cheap .

This is ALL speculation though. If the Big 3 US automakers dont get bailed out....then foreign producers will have a HUGE competitive advantage. Just imagine half your competition going away. If the government somehow does bail out GM I think they are just going to continue to produce crappy products. There is a REASON why they aren't selling and its because their products are sub-par to the rest.

This makes me think about the F'in banks......the govt bails out those who made horrible decisions and lent money to people they knew weren't going to be able to pay them back. Should we bail out GM even though the reason they are in this Shi*er is because of their crappy products??? Too much to think about

 

Exactly. I'm not in the field, but I was an econ major, then went into int'l business & finance. I saw this coming, and sold my house over a year ago.. at the peak. Now, I'm cash heavy... renting cheaply, watching everything collapse. Investment opportunities abound... and will continue to do so.

 

Good job on the timing

 

Everything that I was going to say right there. It's not an investment.

 

Agreed. Sorry for confusing the terms. Financing a vehicle right now, especially a 370Z, is nearly impossible now. Buying with cash will likely land you a great deal because no one is buying. They also mention that Christmas will SUCK this year. Santa aint coming this year...

 

IT'S A TARP!

edit: trap.

 

I bet over 60% of the US could walk in and finance a 30k car tomorrow. Lending has only went away for people who shouldn't have been buying in the first place.

And as to price - there is only so much mark up on a Z. Your all cash purchase doesn't mean much and won't get you a better deal. In fact, a dealership will see cash as a lost opportunity to make money off you from their financing kick back from banks.

 

exactly

 

Ya but heres the problem.....as things get worse there are going to be people who SHOULD be able to get lending and wont be able to. I blame it a LOTT on the banks themselves for lending to people who shouldn't have qualified. Now everyone will have to pay

 

Don't certain businesses like to deal in cash though to avoid some taxes? Like they won't have to report exactly how much they sold the car for or something? I don't know something like that.

 

Maybe some small used car dealer or private seller, but not a legit new car dealer. Highly illegal.

 

Experts eh? Like Mad cow, Y2k and my fav $10 a gallon for gas by end of the year.

Dude listening or watching the media is going to rot your brain.

Don't know about anyone else but I could do without political discussions in this forum.

 

I'm wishing that every day. I'm in near desperate need of a new car and this is looking to be the perfect time to purchase. It might not make sense for people who tend to replace their vehicle every 2 years but for someone needing a new car that they plan on keeping for over 5 years, this should be a good year.

 

Exactly. The peeps b1tching about financing are the same peeps that shouldn;t be financed to begin with. Anybody with verifiable income, a decent credit score, and a 20% down payment can buy a $30K car these days.

If you don't have 1 of these 3 requirements above, you shouldn't be buying a car, anyway. Especially the down payment... so many people live beyond their means these days. Savings, whut? I've put down at least 30% on every vehicle I've purchased, and it's a damn good feeling...

 

Only vehicle I didn't put a good downpayment on was a 0% financing years ago. Put that money to work instead.

 

FYI, cars are not investments

 

You don't have to be "rich" to be able to finance a car, but you need to be able to make those payments. IMO, Z and "rich" shouldn't be used in the same sentence. I get called "rich" or "baller" even after driving the same (and only car I've purchased) for over 6 years.

I'm not rich, but I know I can make the payments especially if I have my '03 Z trade-in and then put some money down to lower the monthly payments. If I'm "rich," I would probably look past the Z and get a GT-R.