Fiscal Cliff & auto purchases in 2013
As the President and Congress head into the final hours to work out the tax deadlines, are Americans becoming more cautious about big purchases?
The Indy Auto Show is a destination for car lovers. For Dr. Joe and Monica Clark, this visit has been a year in the making.
"My car is 15-years-old. I really like it. I hate to get rid of it. But it is costing me money and has 215,000 miles on it. I knew I needed to start looking for a new car," said Dr. Joe Clark from Seymour.
The couple says they are in the market for value. That lines up pretty well with recent conversation they've been having with their friends about the so-called "fiscal cliff."
"It can affect all of our lives and not for the better the way it is going," said Dr. Joe Clark.
His wife, Monica, added, "I think they will solve the fiscal cliff. They have to represent their constituency. They want to look like they are holding out to the last minute. People will be so angry if they don't."
Even with all the uncertainty in Washington, those that work in the auto industry told Eyewitness News that they don't worry about consumers shying away from these big purchases. After all, many times, they are a priority.
"No question it will peak it. But, people need to get to and from work, to school. And dependable transportation is key to that. They will still need to drive," said Marty Murphy.
If you're in the market for a new car in the New Year, drivers may see some savings, especially if you want to downsize.
In 2013, compacts and subcompacts in the $25,000-and-under category are getting more features typically found in full-size and luxury cars. And, that's regardless of what Washington ends up doing.
"You don't have any control over that unfortunately. And, we need a car," said Dr. Clark.
The Indy Auto Show continues Monday and Tuesday from 11- 6 p.m. each day at the Indiana Convention Center.