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Car Forum / Driving, Maintenance, Tuning / General Car Topics / September 2004Buy a car, get one free
Buy a car, get one free New Jersey Nissan dealership offers free used car to anyone who buys a new car. August 26, 2004: 3:32 PM EDT NEW YORK, Aug 26 (Reuters) - Buy a car, get one free. It's hard to believe. But with a deal more commonly seen at clothing sales, one car dealership in New Jersey has upped the ante to lure buyers who have become blase about the usual incentives offered on vehicles these days. For buyers who purchase any new 2004 or 2005 model Nissan, the Route 46 Nissan dealership in Totowa is giving away a 2003 Nissan Sentra, usually an off-lease or traded-in vehicle. "We've had a lot of interest and we've had a lot of customers take advantage of the sale," said Frank Tackett, a partner in the dealership. Tackett said the new Nissans in the showroom range in price from $19,000 to $45,000, while he estimated the value of the second-hand models being given away at about $11,000. Since late 2001, the U.S. auto industry has routinely offered thousands of dollars' worth of incentives per vehicle to boost sales. Monthly auto sales have dived when automakers tried to pare back the deals, most recently in June. Sales bounced back in July as the Big Three automakers hastily slapped the incentives back on. U.S. car buyers received an average discount of $4,982 on the sticker price in July, according to the latest report by auto research firm Edmunds.com. Full-size sport utility vehicles had the largest discount, of nearly $9,500. For August, sales reports have been mixed and the official industry sales data are due on Sept. 1. Heavy discounting in new vehicles has also driven down the resale value of many cars, with industry estimates that some less-favored models hold as little as 20 percent of their original value after five years. http://money.cnn.com/2004/08/26/pf/autos/bc.autos.freecar.reut/index.htm?cnn=yes == "When you're old, they say that your regrets aren't what you did, but what you didn't do. So I like to take every opportunity that I can." -- Cameron Diaz > http://money.cnn.com/2004/08/26/pf/autos/bc.autos.freecar.reut/index.htm?cnn=y > es Copyright 2004 Reuters All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. http://money.cnn.com/2004/08/26/pf/autos/bc.autos.freecar.reut/index.htm?cnn =y > > es > > Copyright 2004 Reuters All rights reserved. This material may not be > published, broadcast, rewritten, or redistributed. This has happened before. As Yugo was going belly-up, several dealers were giving them away as bonuses when people bought real cars. Sensible people turned them down. Any car is an expense, but a free Yugo cost money. And general note- TANSTAAFL. The second car wasn't free, it was buried in cost of first car. aem sends... Retail prices of used are is indeed going into the tank. One of my neighbors just bought his daughter a 1998 Civic for $2,000. Anyone look at late model used car should be looking at new cars instead. Its a buyers market out there. mike > Buy a car, get one free > New Jersey Nissan dealership offers free used car to anyone who buys a [quoted text clipped - 45 lines] > "When you're old, they say that your regrets aren't what you did, but what you didn't do. So I like to take every opportunity that I can." > -- Cameron Diaz > Retail prices of used are is indeed going into the tank. One of > my neighbors just bought his daughter a 1998 Civic for $2,000. > Anyone look at late model used car should be looking at new cars > instead. Its a buyers market out there. > > mike Uh, isn't that backwards? Unless you are rich, if you can get a 2 year old low mile used car for half of the cost of a new one, why buy new? Some of us <never> trade, so residual value is close to meaningless. We drive them until value stabalizes at next to nothing, or until we don't trust them anymore, whichever comes first, and sell them in the ad paper for whatever they bring. (Personally, I won't play the inflated trade rolled into new(er) vehicle price game.) aem sends... Depends on ones point of few and their ability to come up with the bucks ever so often I suppose. People buy new cars because they can afford to do so. The average new car buyer in the US replaces their vehicle every three to four years. People buy used cars, because they can not afford the payment on a new car, every two ot three years. People that buy a new car and keep it till they die are a very small percentage of buyers. If you keep them till they die, would not a new car with no mileage last two years longer than a used car with two years of mileage when you get it? When one buys a used car he can never know for sure how it was used, or abused, of if it was serviced properly or not. If a used car has low mileage it may indicate that the owner changes car often, but it may also mean the previous owner had problems and dumped it. How do you know which? If you are not rich, mostly likely you are limited on the amount of the monthly payment. One can get a longer term loan on a new car than they can on a used car and at a much lower interest rate. Why not make a lower payment on a new car, at lower interest rate, for a year or two longer, now that they are selling as cheap or cheaper than some used cars. My one son recently bought a car to commute to work, it is brand new fully loaded V8 Grand Marquis, for 18K and ZERO interest. That's a hell of a lot more car for less money than a two year old loaded V6 Camry or the price of new a loaded 4 cy VW or Civic, from dealer that is still trying to get MSRP. mike hunt > > Retail prices of used are is indeed going into the tank. One of > > my neighbors just bought his daughter a 1998 Civic for $2,000. [quoted text clipped - 12 lines] > > aem sends... > Depends on ones point of few and their ability to come up with > the bucks ever so often I suppose. People buy new cars because [quoted text clipped - 21 lines] > V6 Camry or the price of new a loaded 4 cy VW or Civic, from > dealer that is still trying to get MSRP. Well, to each his own, I guess. I'm a cheap SOB, and can't stand the thought of eating that year 1 depreciation. I'm also old enough that fixing suprises isn't fun any more, so I look for reliable. I try to split the difference, making my best guess as to total cost of ownership per mile driven. Again, being a cheap SOB, I don't finance cars, so interest rates are irrelevant to me- I have enough cash in bank to buy new, but just can't see any good reason to. I haven't seen any deep discounts around here on new stuff I'd care to own. Glad your son likes his GM, and I wish him well with it, but as a daily driver, I think I'd like the Camry better. (Only Panther platform that would interest me at all is a P71, but almost all of those get purely beat to death before they hit resale market.) And going lower on the food chain, I'd rather have a slightly-used real car than any of the entry-level new beer cans. aem sends... You are 100% correct. You can literally steal a nice used car from the dealers. They have such good deals on the new vehicles and have saturated the market over the last few years with new sales, they can't afford to let the used vehicles on their lot compete for new sales. Brian > Retail prices of used are is indeed going into the tank. One of > my neighbors just bought his daughter a 1998 Civic for $2,000. [quoted text clipped - 46 lines] > > models hold as little as 20 percent of their original value after five > > years. http://money.cnn.com/2004/08/26/pf/autos/bc.autos.freecar.reut/index.htm?cnn=yes > > == > > "When you're old, they say that your regrets aren't what you did, but what you didn't do. So I like to take every opportunity that I can." > > -- Cameron Diaz |
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