Unless you're paying it all up front with plenty of savings to spare, the smart thing to do would be to wait this out for at least another 1 or 2 months. Don't listen to these idiots telling you to buy it now, especially if you're not in desperate need of a new vehicle and not sure of your future employment either. Who says there won't be good deals on during the summer time anyway?

RECESSION now, people losing jobs, and yet you want to buy $$$ cars...with uncertain of your jobs future stability... Great plan.

Buy if you're rich otherwise cash is king.





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If you have the means, I highly recommend it. Plus, it is so choice.

Remember, life is short, money will come and go. Enjoy yourself.

The day you don't give a sh#t is the day you become an adult.

its just money cant take it with you. If you have the means and arent worried about about the economy go for it. Its a good time to negotiate, but would wait for a few months till dealers need to sell. Its also a good time to buy in the market, last few years have been good.

It's a win win for you and the salesman. Feed the economy.

I bought my TRD Pro on 1/24 when I knew about the virus, but it was mainly in China. I wish I wouldn't have bought it. My business had to close down so I'm assuming I can hang on to it for about 3 months, but then I will struggle to get back most of my clients when I start back up. It sucks that I had perfect credit before all this and I can see it going up in smoke almost overnight.

There is no way I would buy a vehicle during this time unless you can be guaranteed that you can't lose your job.

I would wait until everything goes back to normal

Normal? There will be a new normal. Buy it now and enjoy it.

I’d buy. Who knows what things will be like in a couple of months.
I was lucky enough to pick up my TRDP the beginning of this month.
Here in Hawaii, the sales departments at the Toyota dealerships are closed until further notice. Only the service departments are allowed to remain open.


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Im so sorry to hear about yours and others LLC's in this situation. It can be the hardest for us.

I was on track to buy a new car, which was on order and was supposed to take delivery in 1st or 2nd week of March… with the way everything was going my gut feeling told me to cancel it, and I did. I’ve been monitoring things close enough to know that I didn’t want to take on a new liability as we enter a recession… the penalty of a dried up cash flow is too great.

Everyone has different money needs and risk tolerances… only you can make that decision for yourself. Know you own financial picture. The markets are in shambles, and the situation is already dire for many. Many more people are going to go into a cash burn. Right now my goal is to improve my burn rate so I can ride this out as best I can with what I have.

This "thing" is just starting... I feel it's safe to say many of us have not yet been made aware of what our new normal will be.

I've been talking to a lot more friends and family now that i'm at home and looking to socialize... the stories are really making me step back and evaluate what is actually essential.

That said, if you have the means... then this is a probably good time for a buyer. I can only see more sales incentives to come as businesses are slowing down.

Buy one, outfit it full on overland style with a rooftop tent, MREs, and a fridge. If everything goes to hell you can drive to Montana and live in it like a survivalist.....but in all seriousness I’d wait a month or two. That’s the fiscally conservative approach I’d take.

Okay Mr. Doomsday economist.

Perhaps the OP is financially healthy (i.e. recession proof career, has an appropriate emergency fund, has no debt, has lots of liquid). The next few months it will be a buyers market for those who can AFFORD to do so. Interest rates are low and dealerships are looking to make a sale, any sale. Whether that be home or auto it's going to be a buyers market for those who are financially sound.

Everyone is worried about their 401k's. Mine is probably down 20-25%. I look at it as a buying opportunity as stock evaluations are low right now and have only increased my contribution. Could it go down even more? Probably. But you know in the next 6-12 months the market is going to sling shot right back up like it always does. Those who got scared, pulled out to cash, and think they are savvy enough to time the market will regret missing the wave when it goes back up. If you are an investor and have the means to do so there's no better time than now.

I'm not arguing that we aren't in a recession and that millions aren't already affected. There will be a enormous fallout financially and health wise for millions. But there are always those that stay above water because they have "essential" jobs and have an income regardless or those who were already financially wealthy. For those people the impact of this recession might not be anything more than an inconvenience. Again the premise for everything I'm saying is for those who aren't going to be financially impacted in a big way.

You've heard the saying that "millionaires are made in a recession" right?

or

"Be fearful when others are greedy and greedy when others are fearful" - Warren Buffet.

Since OP is concerned about possibly losing his job, I assume he is not real flush in cash. He would never had posted this question if he was liquid enough to go without a job for a while. The right decision for OP depends on his personality. If he is an entrepreneur then he should buy now. If he is a rule oriented, conservative, logical person, then he probably should wait. For example, our firm represented many 100 million net real estate developers before and after the real estate crash. They went from extremely wealthy to fighting off bank creditors over night. My partners and I were amazed how these developers could be so highly leveraged and actually sleep well at night. Debt and uncertainty really did not bother them; actually, they thrived on it. They would buy now. The rule oriented conservative, such as myself, would wait. Uncertainty is avoided if possible. Saving several thousands of dollars now would not out weigh the stress caused by the uncertainty.