After a barren summer, Moyes was finally able to recruit three new players in the form of Lars Jacobsen, Segundo Castillo and Louis Saha, but he is under no illusions that this has suddenly made them a top-four contender.
"No, no, I can't say yes to that," he was quoted as saying in BBC Sport.
"We have brought in four players but not spent any money - let's put that in perspective.
"Some people pay £20million for one player, we have not paid that for four or for any."
Moyes went on to admit that having to close deals in the last week of the transfer season is hardly ideal.
"I don't think that's good - I don't think it's good planning when you get it right at the end," he continued.
"I think it's better to have your business done early and have a pre season etc."
On the subject of the imminent signing of injury prone French striker Louis Saha from Manchester United he said: "There is no doubt he is a fantastically talented player, the question now is can we get him fit and we are hoping we can do that.
"He was involved in 17 or 18 games for Manchester United last year and if he can be involved in a few more than that for us than he will certainly play a part.
"He has been an excellent centre forward throughout the years - he can do a bit of everything, he can run, he can head it, he can link play up as well.
"If you do get him on the pitch there is no doubt he is a very good player and adds qualities that we will need and I am confident that we can get him out there over the next few years."
