[Ecky]

Originally Posted by Isaac Zachary

I think the correct response is (basically the same)

1. Keep your current car as long as possible, saving what would be a car payment. When you can no longer save, that is, it costs more to keep the car running than to make payments on a new car, then sell the car and use it as a down payment.
   1. IF used car prices are down by then, consider a used car.
   2. IF not, then buy a new car with the money saved as a down payment. There is no guarantee that used car prices will ever go down.
2. Or sell the car now and use the money for a down payment.
3. Or figure out how not to own a car.

I'm inclined to believe the used car market will self-correct. I see it being disrupted by a few things, all of which are temporary:
1) A disruption in the supply chain, due to an unprecedented international crisis.
2) An artificial and temporary influx of highly liquid spending power.
3) An expectation that prices of all items will rise, due to reasons 1 and 2, further raising demand.

But yes, I agree that it's a good time to hold onto what you have.