Everyone is worried about the economy, the banking industry and fuel prices right now but in my opinion car prices have never been a better time to buy a car in my 17 years in the business than right now. If you don't have a car right now consider yourself extremely lucky not to be both selling and buying into the market. Same goes for real estate.
As for financing, despite the perspective our bankers told us that they are having a hard time finding people to lend to. People are being cautious and it's freeing up money for other people. I heard about the lowest rate I've ever heard of in my time doing this. 4.5% In a shameless plug I will point out that when banks see the price of our cars and look at the loan to value ratio that a low price helps produce there's a better chance at great interest rates. This is the same reason that we don't recommend GAP insurance. Unless someone has a really high deductible they are often likely to make money on a totalled out car they bought from us instead of being upside down on it.
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