Big-Ticket Items to Wait on Purchasing

Yahoo lists the following as big-ticket items that you should wait to buy (because they're supposedly going to get cheaper in the near future) as follows:

• Travel
• Cars
• Wedding
• Retail
• Remodeling

Here are my thoughts on these:

• Travel - I haven't booked my January cruise yet and I'm hoping that the recent economic troubles/uncertainty slows down purchases (on the cruise itself, airfare, hotels, etc.) enough that prices start to fall. Then I'll book. I have target prices and am on the hunt for them all.


• Cars - I just bought a new car last fall, but my wife is due for a new one in a year or two. Not sure I'd buy earlier than that unless prices REALLY dropped big-time.


• Wedding - The piece notes that wedding caterers, etc. may be more likely to offer discounts these days. I'm thinking many businesses will be more likely to offer discounts these days.


• Retail - Another Christmas of 2008? Could be big sales this year as retailers struggle to compete.


• Remodeling - We have had some repair work recently done and I can say that the bidders got quite low during the process. If they're lower now, then they'll almost be giving away their services. ;-)

Personally, I'd prefer to have a robust economy, pay the going/competitive rate, and have prosperity for all. But since it seems like we're a ways away from that, those people who are now buying can at least take some comfort in the fact that they can shop around, wait a bit, and likely end up with some pretty good deals when all is said and done.

Comments

[Everyday Tips]

I bought a new car recently and thought it was a great deal. Quite often, cars are an item you can't wait on if you leased, or if your current car is no longer drivable. There is so much competition on cars that I think you would probably do just as well just buying at model year changeover.

Regarding a wedding, I am now a curmudgeon when it comes to big weddings and such, unless whoever is financing it is really well off. It is such a huge expense for one day. Yes, it is an important day, but not every person you know needs to be invited.

[Matt]

I view this as trying to time the market. You just can't do it efficently. Yes you may get some deals by waiting but the next month you may get a better one. I think it is a matter of what you need and the time frame you need it.

Buying a new roof in 2006 was probably alot more expensive that what I can get now. People are hungry for work but I NEEDED a roof in 2006

[Brent]

Just booked our first Cruise for February and got a really good deal. If we didn't have free airfare, I might have waited but not much as I would rather pay and get a good flight.

I got married when the economy was at its worst in 2008 and you would be surprised at how unwilling places were to deal. If you want a nice wedding you will always pay more than you should. Big waste of money

[guestinca]

You probably already know that if you can be somewhat flexible on your cruise dates and/or destination, you can usually get really good last-minute deals. Also, in January some cruise lines are repositioning their ships & those are usually discounted, although the # of days can be long, depending on where they're moving to. But I agree with your basic premise, that the cruise companies are hurting - we took a cruise several years ago & are now on that line's preferred customers email list, and they're notifying me at least weekly of the latest new deals they're offering.