How long do you plan on deferring major purchases?

How long do you plan on deferring major purchases?

  • I will not defer my purchases

    Votes: 50 43.1%
  • Probably will defer for about 3 months

    Votes: 14 12.1%
  • Probably will defer for about 6 months

    Votes: 18 15.5%
  • Probably will defer for about 12 months

    Votes: 18 15.5%
  • Probably will defer for greater then 12 months

    Votes: 16 13.8%

  • Total voters
    116

Lsbcal

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west coast, hi there!
Suppose you were planning on a major purchase (house, car, appliances, etc.). But now with the coronavirus situation how long do you think you will defer your purchase?
 
In our case we were planning on buying a new car. But I cannot imagine even getting into a car right now to do a test drive. Maybe will have to defer on that for 12 months.

We also thought we would have some work done in the backyard. That might get deferred for at least 6 months.

The Europe vacation is probably on hold until September 2021.

So I answered 12 months.
 
Actually, I've been thinking about the opposite.

We were thinking on replacing our car in December... but OTOH it will only be 5 years old and about 75k miles and still runs fine.

But I'm thinking that we have the cash and I suspect dealers will be desparate for sales soon and I can strong-arm a really great deal. While I usually like to kick tires, if we go this route I'll be doing most shopping/due diligence online rather than in-person.
 
I would defer until I was able to step out into the world again with reasonable expectation I would not contract a life-threatening viral disease.
 
I would defer until I was able to step out into the world again with reasonable expectation I would not contract a life-threatening viral disease.

+1
I see no sense in making a major purchase until I have some confidence I'll be around to enjoy it.
 
I would defer until I was able to step out into the world again with reasonable expectation I would not contract a life-threatening viral disease.
This, and also applies to inviting a stranger into my house to do contract work.

New home construction will have slowed, and many contractors idle and looking for work. It may be a good opportunity for some bigger home projects.
 
Good question. We have wanted to replace our backyard patio for at least 5 years, but the competition for contractors has been fierce. We have the cash, but we need to come up with a design that won't look out of place with the house (an English tutor).

The contractors are now available, and since it is outside work we could probably keep a safe distance. I guess the answer is as soon as we can figure out a design.
 
I would defer until I was able to step out into the world again with reasonable expectation I would not contract a life-threatening viral disease.

+1
The answer quite possibly depends on the respondent's age and health status.

I guess I could take a test drive in a new car with the sales guy in the back. But I'd have to have the windows down and an N95 mask and with the liberal use of hand sanitizer. That does not seem an attractive choice.
 
I might do a purchase sooner rather than later. I'm usually a buy a new vehicle every 10-12 years kind of person, but if things get good enough (in terms of discount), there is a chance I could be convinced to move from my 2015. (Nothing wrong with it, just could see myself going new.)
 
We have money set aside for a new vehicle and a small scale kitchen remodel. I'll defer until I feel safe being in a car dealership showroom and with having tradesmen in the house.

We have three vehicles, two are 20 years old and one is 21 years old. It's probably time.......
 
This, and also applies to inviting a stranger into my house to do contract work.

New home construction will have slowed, and many contractors idle and looking for work. It may be a good opportunity for some bigger home projects.

Agree completely!
 
DD could use a new vehicle, and she has wanted our help in researching, test driving, and dealing with the sales people. She is one of the fortunate ones who started a new job three weeks ago (prior 5 year job moved out of state), and she is getting paid to work at home. Current vehicle is a 2008 and is starting to show its age.

As mentioned, test driving is out of the question right now. We have asked her to try and narrow down her interests to a handful of vehicles so she'll be ready once it is deemed safer to do so.
 
We just bought a new car in December... so no need for that purchase.

We are deferring a home maintenance item because we have no choice. We need our house tented and fumigated for termites. But that involves vacating your house for a few days. We had it scheduled for 4/7 but cancelled. The hotel we were going to stay at cancelled (with apologies) our reservations and it just seemed like a good idea to reschedule the whole thing till later. Hope the termites don't do too much damage in the meantime.
 
I bought some property (real estate) last week so I guess the answer is not deferring one iota.
 
the only "major" purchase we are contemplating are items for our new deck...table, chairs, fireplace and storage box. all available online. whether they're in stock and can be delivered before the turn of the century...well, that's beyond my control.
 
Good question. We have wanted to replace our backyard patio for at least 5 years, but the competition for contractors has been fierce. We have the cash, but we need to come up with a design that won't look out of place with the house (an English tutor).

The contractors are now available, and since it is outside work we could probably keep a safe distance. I guess the answer is as soon as we can figure out a design.

Better make sure you can get permits and inspections done or your project could stop mid-way leaving a giant mess to look at for months.
 
I just completed a top-to-bottom renovation of my home and my car is about 2 years old. So even without the Coronavirus, I wasn't planning to make a major purchase anytime soon. If I did, I'd probably delay until the dust settles. In fact, I've decided to hunker down, cut my expenses, and preserve liquidities at this time.

I had been wanting to buy myself a small log cabin retreat in the mountains. But prices in this market have been ridiculous for many years and I had almost given up on the idea. If this crisis creates a buying opportunity, however, I'd most definitely jump on it.
 
We're planning on buying DD a different car this summer to facilitate hauling stuff to/from college. I suspect we will still do that, just get a better deal.

We planned on buying a beach house in a few years. If things get really weird, I could see pulling that purchase up by a few years. I have lots of credit capacity and prices could get really low if this forces selling among people who were closer to the edge. We'll see.
 
If I had to replace a vehicle right now I'd go on leasehakr.com [sic] forums to see what's on special right now (i.e. under $300/month, zero down) to conserve cash flow rather than lay out tens of thousands of dollars all at once.
 
We were planning to buy a townhome for our son and his family when they moved closer. If they still move we will probably rent a place for them first, to allow the market to rise a bit after its fall. We’re also holding off on a major kitchen and master bath remodel. We could still spend the money, but it would be a larger percentage of our nest egg than we anticipated.
 
I'm in the process of selling one house and moving to another. My plan is to trash or donate most of my existing furniture. I will be ready to go shopping in the next month, even if it is only online.
 
Actually, I've been thinking about the opposite.

We were thinking on replacing our car in December... but OTOH it will only be 5 years old and about 75k miles and still runs fine.

But I'm thinking that we have the cash and I suspect dealers will be desparate for sales soon and I can strong-arm a really great deal. While I usually like to kick tires, if we go this route I'll be doing most shopping/due diligence online rather than in-person.


PB, Im thinking the same thing. At least kicking the tires and see if they are desperate in a month or so. I bought a 2018 Explorer last off lot in early 2019, for a great deal of $27k. Its a little big for my taste and my golf clubs dont fit in correctly do to third row bench side inserts. Would like to get an Edge instead if a deal could be done.
 
Suppose you were planning on a major purchase (house, car, appliances, etc.). But now with the coronavirus situation how long do you think you will defer your purchase?
I am ready to spend at a moment’s notice, however I’m constrained to stay home and only grocery shop or order stuff online.

We also really need a new car, and have meant to buy one for a few years already. We have the funds. But shopping in the current environment is impossible.

Any deferral on our part is based on when it’s safe to go car shopping!

Thank goodness our 15 year old Jeep Liberty made the 1200 mile trip OK, and now that we’re here we have the use of an even older truck for backup.

I answered that I’m not planning to defer purchases, but practically speaking I am forced to.
 
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