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Feb 4, 2008 6:51 pm US/Eastern
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A Slowing Economy Makes For Unbeatable Bargains
NEW YORK (CBS) ―
It may be hard to believe, but even a recession has a bright side: bargains.
Whether you're in the market for a new couch or a new car, a slowing economy may be the best time to buy.
A recent survey shows that 34 percent of consumers will spend less over the next 90 days than they did a year ago -- and experts say that's actually good for shoppers. If your outstanding debt is down and you've got a good job, you can take advantage of hard times like these.
"We wouldn't say go on some kind of shopping spree, but on the other hand, if you need something, recession could be a good time to go out and buy it," says Greg Dougherty of Consumer Reports.
Even that new car you've been eyeing could be ripe for the buying.
"Car dealers will probably be happier to see you and deal with you," he says.
That's because new car sales are down, making now a great time to negotiate price as well as options like a GPS or sunroof.
"You go to buy a couch, you'll have some negotiation too. Maybe they'll drop the price, deliver it for free, throw in some pillows," Dougherty says.
Where's the logic behind that? As home sales dwindle so are furniture and appliance sales, so the time just may be right for a decor upgrade.
"The consumer is really in a much better place to say hey, what can you do for me?" he says.
And Dougherty adds that holds true for just about everything from remodeling or buying a house to electronic sales.
One other benefit -- if you're in the mood for a trip, all this belt tightening means lower demand for travel and better prices for you to scoop up a get away.
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