Oldsmobile prices plunge! Buy one now?

[68conv455]

That title should be an attention getter. Here's my theory:
- Stock market plunges
- Housing market plunges
- Loans are not available.

Given the above, all non-necessities (aka old cars) drop in value because the market gets flooded when people sell because they need cash, and fewer people have cash to lay down, or they hoard it because they are worried.

So... Will prices drop and become more affordable to the people that are fortunate enough to have a little discressionary cash, or, am I just unrealistic and this will not be a buyers opportunity?

[Bunser]

It will absolutely become a buyers market.I was at Carlisle this spring and saw some very atttractively priced vehicles! People are hurting financially and the "toys" are the first to go! A fellow in Canada is going stateside and buying up Harleys for "X" dollars,bringing them back and selling for "2X" dollars in Canada.
The entire global economy is hurting and it won't be over soon.There is still more carnage to come and recovery will be a long slow process.I'd like to be more optimistic, but common sense prevents me.Hang on boys, were in for a rough ride!

[moparmusclecars]

I totally agree with you, bunser. We are in for a very very long run here. Olds cars are not the only ones hurting. I mess with (if i can say it) Mopars also, and the price on these cars has went way down. Super nice Chargers with big blocks can be had for $20,000 now. That's not much more then a PT Cruiser sells for. Before the economy falling apart these same cars would have brought considerably more money and would have been easier to sell. I think this country is in for a long haul as far as seeing the economy getting better. I'm going to cinche my belt up one more notch and just be careful with the little money I do have. It would be an excellent time to buy your favorite Olds as long as you have the cash, and your not looking at reselling it any time soon.

[59-59-59]

Now would be a good time for me to buy every '55 -'57 Chevrolet and have the worlds biggest demolitoin derby with these cars

[olds68]

Let me know where to get tickets for the 55-57 Chevy demo derby.
I'll be there

[BILL DEMMER]

Originally Posted by 59-59-59

Now would be a good time for me to buy every '55 -'57 Chevrolet and have the worlds biggest demolitoin derby with these cars

can i bring my shotgun?! maybe some dynamite!!??
yes...we'll blow them up with DYNAMITE!!


bill

[joe_padavano]

I spend all day yesterday (Thursday) at Hershey. Apparently no one told the vendors there about falling prices...

[Allan R]

Stay the course.
Reading through the comments, don't forget that an Oldsmobile isn't just a toy. It's a passion. So when everyone else is unloading their chebbies and such remember to keep your Olds investment on solid ground. Everyone else can do the "envy" dance when you still have your classic. And yes, I do think that some of the prices we pay for resto parts will also be coming down (at least I hope that they will).

[68conv455]

5 months have passed since I started this thread and I believe there is a lot of downward pressure on just about everything. In my area (CT) most things are on sale but sellers are still looking for most of the original value. Nothing seems to be selling though. Have you looked at ebay lately? Very few cars are hitting their reserve. I still think things will crack before this economy gets better. I don't see the light at the end of the tunnel yet. Hang on.

[442much]

And loans are still available as the banks are doing fine. Royal Bank of Canada (largest Canadian Bank) $1.05 billion profit in the first quarter 2009, Bank of Montreal (4th largest) up 19.2% over last year at $657 Million profit in same period. They're not feeling any pain.

[J-(Chicago)]

Oldsmobiles are junk. They will only decrease in value. Sell me yours today!

[mugzilla]

I'm hoping Commercial property will drop and I can rent space cheap enough to finish my ride ...

[Bluevista]

I went to a parts swap a couple of weeks back and I've never seen so much stuff or people at it. It was a raging snowstorm and they were still getting people from a good ways off. It felt like the good old days.
Auto Zone just posted a healthy profit, people are maintaining and repairing their cars. I predict lawn mowers and garden tractors will be a hot item this Spring. When people don't have the cash they'll be getting rid of the landscapers and actually cutting their own grass. I've seem more snowblowers and shovels in use this winter than ever too.
My rent-a-goat lawn service idea may fly now, I can pull a trailer and deliver them with my goat (GTO).

[dingusboy]

Cool....a GTO and a write-off.