Reader Question: Should I Risk Buying a New Car?

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Here’s the latest reader question, along with my reply! 

Chip asks: I caught your piece about the Corona Car and agree it’s probably a good time to buy in terms of getting a deal. But is there ay point in buying a new car given we may not be able to drive it much? Is it smarter to spend whatever money we have on other things – like food and ammo?

My reply: Possibly. On the other hand, if the system totally crashes maybe none of us will be held responsible for anything. Maybe now is the time to max out our credit cards and buy everything tangibly of value we can lay our hands on – before our money (and credit) becomes worthless.

These are variable, unknowns. But what can be depended upon is that if this Corona Hysteria continues, the economy will collapse – to a degree few people understand… yet. In which case, Mad Max – or Pol Pot.

It could be that bad. And real soon.

. . .

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  1. Buy stocks, not a car

    Invest in the cruise and air lines, they’ll rebound eventually.

    That’s what I’m doing anyway. It’s not foolproof, but hey, what’s the harm in businesses people love?

  2. I don’t wish to argue with you but I see the Corona virus as the false flag to take the blame of the economy failing. All the best economists I know and stay up with have been saying it was going to collapse soon and so it has. No virus nor any other thing needed.

    I’d agree with you as far as maxing out credit wherever you can get it. “If” the economy ever returns to anything decent and I’m not speaking of how it’s been since the first failure in 2000 or 2008 but the way it was back in the 70’s. Up to that point, we’ve simply been playing catch-up….to no avail.

    To answer a question I haven’t asked but wondered about…..I’ve seen quite a few people saying we’ve had a huge amount of millionaires created in the last decade. Nobody ever said how all these hundreds of thousands of people became millionaires but I figured it out when the stock market crashed and those same people started figuring out how many hundreds of thousands of millionaires have been lost. Holding a million dollars of stock in various ways is not indicative of a person’s true worth. Oh well, easy come, easy go.


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