When you are looking to go on a trip or buy a big ticket item, you want to do all that you can to save money on the process. Should you wait to invest in your Singer Island rentals or whatever else that you may be looking to enjoy? Many people tell you to wait on big ticket items. For example, here are a few examples of big ticket items that greatly decreased in price after the recession in 2008.
Plane tickets: At first, they only dropped 4%. Then, the first quarter of 2009 came, where plane tickets dropped anywhere from 10 to 20% beyond that initial four percent- giving some lucky consumers discounts of 25% from merely months before! That was a great time to get tickets; the wait was worth it for many people and it still is.
Weddings: If a business is struggling in the off season, it may put caterers and other professionals in a situation where they scramble for clients. In these situations, caterers will often be willing to strike deals with clients; offering little extras (like a cake) for free, or giving you generous discounts. Weddings were cheaper in 2009 than in any other year after 2000 because of caterers, DJ’s, and photographers needing more business.
Cars: Even before the U.S debt disaster occurred, many market experts were telling people to wait to buy cars. If you can hold off, do it! In early 2009, you could get cars for up to 40% less during blowout sales.
So, seeing these previous trends should make you think before you invest in a big ticket item right now. Sure, they’re discounted, but if you hold out just a little longer, you may end up with a lot of extra dough in your pocket.