Quote:
Originally Posted by surge98
For what it's worth, I bought my 1 series at the peak of the last recession. The best deal I could get was $500 over invoice plus the year-end $1000 off through BMW, financing 50% of the total cost at 4.5%. I also got a $500 tax credit for buying a car that year. Before all this hit, the standard $3750 in incentives was already a much better deal than what I could get back then. I have cash set aside for a new 2 series, I'll be very interested in seeing what incentives are offered next week. I doubt the deals will be as good on an ordered car, but maybe I can get 9-10% off MSRP instead of 7-8%.
I see one person saying that things will be back to normal in six months and one person saying it will take 3-5 years. The truth is probably somewhere in between, but this is so much scarier than 2008 for the simple reason that we are not dealing with a man-made crisis. Ben Bernanke went on 60 Minutes in March of 2009 and pledged to do whatever was necessary to prevent another major bank from failing. Once that was off the table, the recession was officially over within three months.
I think this has the potential to permanently alter our way of life. The economy will bounce back, but how many people will want to go to a movie, concert, or sporting event when this is all over? How about going on a cruise, stuffing yourself into a middle airplane seat between two people who are coughing, or going to a business conference with thousands of other people who have been traveling? Travel, hospitality, and entertainment are going to get crushed, and no amount of government bailout money is going to bring customers back to those industries for a very long time.
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The key is a VACCINE. How often do you avoid concerts, movies, flying simply because it's flu season?
With a vaccine, this CV critter gets more or less taken out of the equation.
And, if it takes out the anti-vax crowd..... well, that's why they call it natural selection.
Just my 0.03.
R.