Responsible consumers can reap rewards, find bargains

The down economy is indeed a worrisome time for many. But for those consumers who have managed their money well during the good times —- kept credit card debt low, regularly saved, avoided impulse shopping, minimized dining out and maintained a high credit score —- now may be time to reap your rewards.

Because of the drastic slowdown in spending, there are great bargains to be found almost everywhere you look.

Used luxury cars: I recently drove by a used car dealer and saw a sleek, black 2005 Lexus sports utility vehicle advertised for $19,500. The store manager told me that a number of people have had to trade in their luxury vehicles because of the economy. Most of the cars are in very good condition, he said. Since his shop was small, with little overhead expenses, he could let it go at such a low price.

New car: If you desire a new car, there are plenty of rebates, low APR financing, and even some zero percent interest deals. For example, last month, Toyota Motor Corp. announced an unprecedented deal to offer zero-percent financing on 11 models as it tries to woo would-be buyers sidelined by the consumer credit crunch. The incentives range from 36- to 60-month payment plans. They are being offered on the Matrix, Corolla, Camry, RAV4, Highlander, FJ Cruiser, 4Runner, Sequoia, Sienna, Tacoma and Tundra.

Stocks: This is an obvious one, of course, with the major selloff on Wall Street. Many investment experts say now is a good time to buy stocks if you know you have long-term savings plans such as saving for your toddler’s college or if you have 10 to 20 years before retirement. Be sure to talk with your financial adviser to help determine which stocks are best for you.

Home projects: Recently, I got a coupon in the mail from a local carpet cleaning company that offered to clean five rooms for $125. That was nearly $100 less than what I was quoted last year. I called them immediately. If you have other home projects you have been putting off, such as replacing the windows with energy-efficient ones or upgrading your kitchen, do them now. You can find 10 percent-off coupons online for most home improvement stores. These can be used on sales items, too. Just search for the store name and the word coupon. For example, you should type “Lowes and coupons.”

Appliances and home entertainment items: Because of the slowdown in the housing market, many stores are offering deep discounts on appliances, flat-panel HDTVs, stereos, cameras, DVDs, camcorders and the like. Some stores, such as Best Buy, are offering interest-free payments for up to three years on certain items. That’s the same as getting a free loan.

Perks: Check your local spa for discounts and specials on massages, facials and other treatments. Restaurants are also offering deals to lure people out. There may be deals on season tickets to your favorite theater or sports team and on your favorite magazine subscription.

Yard sales and consignment shops: During tough times, many people host yard sales to earn extra cash. Others take suits and nice clothes to consignment shops for resale. Take time to scour some of these sales one Saturday morning and you could find some major deals.

Other bargains: You can also expect to find deals at flea markets, antique shops, online and live auctions, online classifieds such as Craigslist and eBay.