How to Buy a New Car Before a Depression Hits
- 1). Look at the economy. You must first have an idea if a depression is coming. If the economy is in recession for more than a year a depression may be coming. Look for continued job loss, inflation and a slowdown in GDP. This may be pointing to a depression and signal the time to buy a car is at hand if you wish to purchase one before the depression hits.
- 2). Consider your finances. Your income may change unexpectedly so don't consider your short term income. Look at your savings, stocks and overall financial stability. Consider whether a new car would be beneficial and necessary.
- 3). Search for deals. Look at dealers and car websites (see Resources) for offers and deals being put on by the major auto companies. The summer and the end of the year tend to be times when special sales and incentives are put out. In a recession more deals will probably be available to get more people interested in buying cars.
- 4). Talk to many dealers and try to bargain with each of them to get to a price that you want. Don't base the price of what you can afford on a monthly payment but on an overall price. Leave one dealer and talk to others, let each dealer know you are talking with several dealers. If you have the money to afford the car and good credit, let the dealers know. They will smell a sale and really want to land it.
- 5). Keep an open mind on several different vehicles and be willing to take the best deal. Pick the best deal and let each dealer know what your decision will be and you will probably get counter offers. There will be a point in which a dealer can't or won't go any further for a sale. Be patient to get to that point and accept the best deal you can get.