Clark wants you to go out and look at cars for two reasons. First, data from the month of August shows that car sales were horrible last month. Honda sales were down 14 percent. Toyota was down 10 percent, and GM was done 14 percent. Car companies are having a pretty bad time this month and the deals are extra good right now, especially if you buy 2004 models. Add into the mix that sales have been low for Japanese car companies, as well, and it exacerbates the problem for auto makers. They desperately need you to buy the 2004 models, and you can use that to your advantage. If you are going to keep a car for five years or more, buy the 2004. If you’re going to keep it four years or less, buy the 2005. Your pocket book will be smiling.

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Clark has told you why to buy a car. Now he’s going to tell you why not to buy a new car. The credit bureau, Experian, says the average amount people finance on a car is $23,000. The average car payment is just under $400, and about 40 percent of us carry an auto payment. That means 60 percent owe no money on a vehicle, which is great. So consider staying in that group before you go out and buy a new car. Do you really have $400 extra dollars to spend every month? Or would you be better off keeping what you have and waiting a while?