Quote:
Originally Posted by Joe C.
Seeing posts on car dealers, prompted me to do this post.
My opinion is that if you can afford to buy a new vehicle, now is the time to do it.
Reason #1
Computer chips that are needed for automobiles are in extremely short supply, and may cause manufacturers to shut some of their plants down,
Reason #2
And probably the most important one is that the U.S. dollar is going to inflate more than it's ever done before, and is going to be worth a lot less in the next year or two. Uncle Sam printed more money last year than all the years they've been printing since the U.S. Mint was established. If you wait a year or two, the car you would like to have will most likely be priced out of reach for you because the sticker prices are going to go sky high. So if you can afford a new vehicle, do it now. Because no matter how high the inflation goes, your monthly loan payment will be at today's dollar amount and won't be affected by the dollar devaluation.
Just my two cents, because next year it'll be just my five cents.
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If I was younger, I would buy a couple of popular cars with gas engines and put them in long term storage. In 15 or 20 years they will be worth a small fortune when the internal combustion engine is phased out of production. But at my age, I am not waiting that long to get returns on my investments.