RE: This is not the '30s--It Was Much WorseArtie et al....Things are going to get a lot worse then what we see now.....prices on consumer goods could possibly drop. As an example, I just bought last montha 2008 "new" Dodge Grand Caravan van. It is the 24G model, full "Stow & Go" .It was listed at $16,995 at Peel Chrysler in Port Credit, way more here. I added other options. With administrative fees(BS fees) freight, air tax, PST & GST and haggling, I got the vehicle for $24,400. My last van was a Toyota Sienna 2004 van leased....and I walked away from it....value was under the buyout price at end of lease term.
The point I want to make is there are deals out there. My 2004 Toyota Sienna listed for $37,000+, plus all the fees and taxes. I have noticed people trying to get out from their existing leases ....some of them had remaining lease values more then the new 2008 listed prices for this vehicle.
Saw outside a local auto dealer today....a saleman carrying a sign saying "Will sell cars for food"
........Richard