This month, according to preliminary figures released this week..., just 1.9 percent of the respondents said they planned to buy a house and only 3.7 percent said they expected to buy a car.

In the more than 40 years that the survey has been conducted, the previous low reading for car purchases was 4.5 percent.

Moreover, the survey also asks whether the person plans to buy a new car or a used one, or is not certain. This month only 1.3 percent said they planned to buy a new car, also the lowest ever.

—Floyd Norris reporting in "Americans Have Lost Their Appetite for Spending"

If you're thinking of buying a used car, try to find one that will really hold up and for which you can find used parts at the junk yard. I recommend the 1980 Ford Fairmont, but some people still swear by Buicks.

Related post
Buying a used Mercedes (2/08/05)

Tags: news and politics recession economic depression automobile industry consumer spending