by redmondjp » Fri Jul 25, 2008 1:43 pm
Late-breaking news! Local auto dea . . uh, I mean, a group of companies, organizations, and individuals report that now is a great time to buy a brand-new pickup truck or SUV. Don't believe all of the anti-SUV hype out there in the media right now--get yourself educated and consider these key advantages to buying now:
First, auto interest rates are at historic lows. I mean, you can't get any lower than zero percent, right? These rates have nowhere to go but up.
Second, economically, we're one of the healthiest areas in the country right now. Our unemployment rates are at historic lows. Many more people are going to be moving to Seattle, getting new high-paying jobs and they're all going to need an XL3500 Magnum superdutyquadcab 4x4 with the towing package and brush guards so they can drive to Bellevue Square to pick up a latte and some jeans.
Third, due to the auto manufacturers closing manufacturing plants and shifting production at other plants from trucks/SUVs to smaller cars, the supply of these vehicles will become extremely limited. Yes, sales have slowed and prices are down in some areas. But its important to note that while trucks and SUVs may be selling for a bit less, the vehicles themselves have not lost value and as the number of available SUVs on the market decreases, sales prices will start to rise again.
It's a Buyers Market
Right now there is a six-month supply of trucks and SUVs available for sale. This compares to a year's worth of inventory in Oregon, two years worth of inventory in Atlanta and a staggering eleven-year inventory in the hardest hit areas like Detroit and Florida. All this means that if you buy a SUV and plan to drive it for several years, that SUV will increase in value and be a good investment.
These conditions make it a buyer's market. Sellers are eager to deal and experts predict that buyers who wait hoping for even lower prices could end up paying more as interest rates rise, which they have already begun to do. If the truck or SUV you purchase costs less but your interest rate is higher, the interest rate you pay could wipe out any potential savings from that lower sales price.
Fighting off Affluenza on the Eastside since 1995