Has the slump in the economy influenced your car purchase decision?

Sam Kapasi · 10th October 2008, 23:30

Just a genuine question and some research I am doing. Your honest answers will help my research. I can think of no better place to complete my questionnaire.

The poll above will not show your names in the results.

My question stands, regardless of your mode of purchase, provided you are buying your own car (and not being loaned one by your company, unless you are part of the company)

Option 1: Despite knowing the state of economic affairs, you thought about it and bought a car recently.

Option 2: Despite knowing the state of affairs, you still intend to buy a car in the next 3 months. For whatever reason, possibly the slump does not affect your income etc. This question can be answered, even if you intend to buy a second car for your home.

Option 3: You've been planning to buy the car, but given the state of the economy and the rise in living costs, you'd rather not buy the car and/or simply drive the same one you have for another year or so. This can be answered even if you are buying your first car, or swapping your existing car for a new one.

Option 4: This change in economy makes no difference to your plan to buy a car or not.

Option 5: Seeing the way things are, I have reduced my purchase budget and will now go in for a more economic option.

Many thanks for your honest answers. As I mentioned before this is an anonymous poll and it would be wonderful if you would like to discuss your choice by making a post.

Raj1008 · 10th October 2008, 23:37

I would go for option 3 but it has more to do with getting a better deal as the market sinks deeper than uncertainty/fear.

pranavt · 10th October 2008, 23:41

Oh hell yes! And in a good way

Moved my family's investments from elsewhere to gold in the last month, just before the proverbial crap started hitting the fan, and a day before the gold prices started a northward journey. And I'm buying a car in the coming months.

ashish22 · 10th October 2008, 23:44

just bought a car in july so opted for option 1. However considering the present scenario its really difficult to make a purchase decision but if someone has a need to buy a new car and dont want to spend much then he/she might downgrade their choices..for eg. if someone is considering SX4 they might settle for swift or Dzire just to be on a safer side and yet meeting their needs or desires.

IMHO this option should also be added to the poll.

lamborghini · 10th October 2008, 23:45

Hey sam,

I don't know what option to choose. My parents plan on buying me a car in the U.S.A, but the economy has definitely made them think and since a car is a necessity for me, the budget has gone down considerably.
So I really don't know what to put. I think you need to get another option for reduced budget.

Sam Kapasi · 10th October 2008, 23:49

Quote:

Originally Posted by ashish22

just bought a car in july so opted for option 1. However considering the present scenario its really difficult to make a purchase decision but if someone has a need to buy a new car and dont want to spend much then he/she might downgrade their choices..for eg. if someone is considering SX4 they might settle for swift or Dzire just to be on a safer side and yet meeting their needs or desires.

IMHO this option should also be added to the poll.

I agree. You are correct. I will request for help from the support team.

Option 5: Seeing the way things are, I have reduced my purchase budget and will now go in for a more economic option.

abhibh · 11th October 2008, 00:00

Well even i am confused. I was aiming for a Diesel Sedan (DZire VDi) but now i think i must settle for Splash VDi OR maybe just drop the plan for sometime!

kanwal · 11th October 2008, 00:00

I selected - Option 4: This change in economy makes no difference to your plan to buy a car or not.

I am not planning to buy a car for now neither I had planned for one before this great economy-shake

Sam Kapasi · 11th October 2008, 00:04

Quote:

Originally Posted by abhibh

Well even i am confused. I was aiming for a Diesel Sedan (DZire VDi) but now i think i must settle for Splash VDi OR maybe just drop the plan for sometime!

Option 5 has been added for this situation: Thank you support team!

mohit · 11th October 2008, 00:12

I bought mine recently but then I had to... work commute demanded that I get one. Maybe I would've got a used one if I had foreseen this big a fiasco. Time to give myself a reality check

aaggoswami · 11th October 2008, 00:17

I am not voting here as my annual income is through doing computer hardware articles and recommendations. I hardly manage Rs. 12K per year, but I would like to reply to this question after a very brief discussion with my father.

The option is OPTION 3.

1)
We were planning to buy a car in October 2009 and looking forward to Corolla Altis ( petrol or diesel ) or Honda Civic, if available, Suzuki Kizashi based sedan and Toyota Innova. But the recent economy has changed the things by a very huge margin. We are not sure how the future will behave. That said, if the things are a bit more controlled, then we might end up buying a car in Ocotber-December 2009 period.

2)
With our Maruti 800 getting older, we were planning to buy a Tata Nano in nearly November-December 2008. But we have, as of now, put that decesion on hold. The routine expense has left us bleeding, so we are now pulling on with Maruti 800 for atleast 2 years.

abhinav.gupta88 · 11th October 2008, 00:35

I just bought a new car 3 months and 3 days back.
However if i would have been in such a situation , it would totally depend on what car i would have been considering

Case 1 : Purchasing a D / Upper D segment car , i would have made a more economic choice

Case 2 : Purchasing a Hatch back in the range of 6 lakh - Wait for sometime to see where the economy is shifting and will shift in the near future.

Thad E Ginathom · 11th October 2008, 01:25

My Swift is actually the only brand-new car I have ever owned. I had hoped it might be a stepping stone to a Fabia.

The entire sum that would have bought the Fabia has been lost (or at least, the profit is entirely gone) so will not consider buying anything else.

Even my consideration of ICE and Pete's Box is now an or or possibly a neither. Belt well tightened.

doctorkats · 11th October 2008, 03:17

Option 3.
I'm holding my horses for now.

1100D · 11th October 2008, 03:58

I am not too sure but I attribute this slump to be quite temporary and hence tend to think that this does not make any difference to me.

But now that I have already voted. Kind of thinking, that it might be good to accept some mouthwatering offers from carmakers/dealers to push sales in the process. Such offers might not ever be available at greener times.

View Poll Results: This is what the economy did to my decision
I bought a car recently (3 months)	41	17.30%
I am going to buy a car in the near future (3 months)	37	15.61%
I have decided not to buy a car for now	92	38.82%
It makes no difference to me	48	20.25%
I will now buy a more economic car.	19	8.02%
Voters: 237. You may not vote on this poll

10th October 2008, 23:30	#1
Sam Kapasi Distinguished - BHPian Join Date: Jul 2005 Location: Mumbai (but wat Posts: 6,997 Thanked: 2,378 Times View My Garage	Has the slump in the economy influenced your car purchase decision? Just a genuine question and some research I am doing. Your honest answers will help my research. I can think of no better place to complete my questionnaire. The poll above will not show your names in the results. My question stands, regardless of your mode of purchase, provided you are buying your own car (and not being loaned one by your company, unless you are part of the company) Option 1: Despite knowing the state of economic affairs, you thought about it and bought a car recently. Option 2: Despite knowing the state of affairs, you still intend to buy a car in the next 3 months. For whatever reason, possibly the slump does not affect your income etc. This question can be answered, even if you intend to buy a second car for your home. Option 3: You've been planning to buy the car, but given the state of the economy and the rise in living costs, you'd rather not buy the car and/or simply drive the same one you have for another year or so. This can be answered even if you are buying your first car, or swapping your existing car for a new one. Option 4: This change in economy makes no difference to your plan to buy a car or not. Option 5: Seeing the way things are, I have reduced my purchase budget and will now go in for a more economic option. Many thanks for your honest answers. As I mentioned before this is an anonymous poll and it would be wonderful if you would like to discuss your choice by making a post. Last edited by Technocrat : 11th October 2008 at 17:59. Reason: Added 5th option :)
	() Thanks

10th October 2008, 23:37	#2
Raj1008 BHPian Join Date: Mar 2007 Location: Toronto Posts: 119 Thanked: 64 Times View My Garage	I would go for option 3 but it has more to do with getting a better deal as the market sinks deeper than uncertainty/fear.
	() Thanks

10th October 2008, 23:41	#3
pranavt Senior - BHPian Join Date: May 2008 Location: Mumbai Posts: 1,682 Thanked: 641 Times View My Garage	Oh hell yes! And in a good way Moved my family's investments from elsewhere to gold in the last month, just before the proverbial crap started hitting the fan, and a day before the gold prices started a northward journey. And I'm buying a car in the coming months.
	() Thanks

10th October 2008, 23:44	#4
ashish22 BHPian Join Date: Oct 2006 Location: Gurgaon Posts: 598 Thanked: 100 Times View My Garage	just bought a car in july so opted for option 1. However considering the present scenario its really difficult to make a purchase decision but if someone has a need to buy a new car and dont want to spend much then he/she might downgrade their choices..for eg. if someone is considering SX4 they might settle for swift or Dzire just to be on a safer side and yet meeting their needs or desires. IMHO this option should also be added to the poll. Last edited by ashish22 : 10th October 2008 at 23:46.
	() Thanks

10th October 2008, 23:45	#5
lamborghini Distinguished - BHPian Join Date: Apr 2004 Location: Mumbai Posts: 6,113 Thanked: 5,760 Times View My Garage	Hey sam, I don't know what option to choose. My parents plan on buying me a car in the U.S.A, but the economy has definitely made them think and since a car is a necessity for me, the budget has gone down considerably. So I really don't know what to put. I think you need to get another option for reduced budget.
	() Thanks

11th October 2008, 00:00	#7
abhibh Senior - BHPian Join Date: Sep 2005 Location: Back in the HOOD near you! Posts: 2,768 Thanked: 39 Times	Well even i am confused. I was aiming for a Diesel Sedan (DZire VDi) but now i think i must settle for Splash VDi OR maybe just drop the plan for sometime!
	() Thanks

11th October 2008, 00:00	#8
kanwal BHPian Join Date: Mar 2007 Location: Hyderabad Posts: 149 Thanked: 15 Times	I selected - Option 4: This change in economy makes no difference to your plan to buy a car or not. I am not planning to buy a car for now neither I had planned for one before this great economy-shake
	() Thanks

11th October 2008, 00:12	#10
mohit BHPian Join Date: Sep 2004 Location: Toronto / Kurukshetra Posts: 677 Thanked: 168 Times	I bought mine recently but then I had to... work commute demanded that I get one. Maybe I would've got a used one if I had foreseen this big a fiasco. Time to give myself a reality check
	() Thanks

11th October 2008, 00:17	#11
aaggoswami Senior - BHPian Join Date: May 2007 Location: Vadodara Posts: 4,982 Thanked: 2,931 Times	I am not voting here as my annual income is through doing computer hardware articles and recommendations. I hardly manage Rs. 12K per year, but I would like to reply to this question after a very brief discussion with my father. The option is OPTION 3. 1) We were planning to buy a car in October 2009 and looking forward to Corolla Altis ( petrol or diesel ) or Honda Civic, if available, Suzuki Kizashi based sedan and Toyota Innova. But the recent economy has changed the things by a very huge margin. We are not sure how the future will behave. That said, if the things are a bit more controlled, then we might end up buying a car in Ocotber-December 2009 period. 2) With our Maruti 800 getting older, we were planning to buy a Tata Nano in nearly November-December 2008. But we have, as of now, put that decesion on hold. The routine expense has left us bleeding, so we are now pulling on with Maruti 800 for atleast 2 years.
	() Thanks

11th October 2008, 00:35	#12
abhinav.gupta88 Senior - BHPian Join Date: Sep 2007 Location: Delhi , India Posts: 4,092 Thanked: 325 Times View My Garage	I just bought a new car 3 months and 3 days back. However if i would have been in such a situation , it would totally depend on what car i would have been considering Case 1 : Purchasing a D / Upper D segment car , i would have made a more economic choice Case 2 : Purchasing a Hatch back in the range of 6 lakh - Wait for sometime to see where the economy is shifting and will shift in the near future.
	() Thanks

11th October 2008, 01:25	#13
Thad E Ginathom Distinguished - BHPian Join Date: Jun 2007 Location: Chennai Posts: 11,005 Thanked: 26,443 Times	My Swift is actually the only brand-new car I have ever owned. I had hoped it might be a stepping stone to a Fabia. The entire sum that would have bought the Fabia has been lost (or at least, the profit is entirely gone) so will not consider buying anything else. Even my consideration of ICE and Pete's Box is now an or or possibly a neither. Belt well tightened.
	() Thanks

11th October 2008, 03:17	#14
doctorkats BHPian Join Date: Feb 2007 Location: Noida Posts: 315 Thanked: 2 Times	Option 3. I'm holding my horses for now.
	() Thanks

11th October 2008, 03:58	#15
1100D Senior - BHPian Join Date: Jun 2006 Location: Calcutta Posts: 4,390 Thanked: 4,096 Times View My Garage	I am not too sure but I attribute this slump to be quite temporary and hence tend to think that this does not make any difference to me. But now that I have already voted. Kind of thinking, that it might be good to accept some mouthwatering offers from carmakers/dealers to push sales in the process. Such offers might not ever be available at greener times.
	() Thanks