Posted on 08/13/2005 2:07:09 PM PDT by Uncle Joe Cannon
Gas prices affect SUV values Updated: 8/12/2005 9:28:06 PM By: Adam Shub, News 14 Carolina
CHARLOTTE, N.C. -- Gas prices have reached another record high in North Carolina.
The average price is now $2.34 a gallon.
“The days of cheap gas are over,” said Sarah Davis of AAA Carolinas.
So is it time to trade in that gas-guzzling, sport utility vehicle for a gas-electric hybrid like the Toyota Prius?
When compared with the Ford Expedition, a popular SUV, the Prius would save more than $1,450 in gas costs per year. And that is for 15,000 miles at a cost of $2.34 a gallon. It could be even more.
Some people are trading in their SUV for a hybrid -- but not as many as you might think. Some people are trading in their SUV for a hybrid -- but not as many as you might think. Buddy Flesch, a car salesman at Town and Country Ford in Charlotte, sees some people trading in their SUV for a hybrid -- but not as many as you might think.
He said that’s because of a Catch-22. Soaring fuel costs are hurting the resale value of the SUVs.
So are the new employee pricing plans.
"With the prices going down on the new, they're also going to down on the used,” Flesch said Friday.
Gas prices have reached another record high in North Carolina. The average price is now $2.34 a gallon. Gas prices have reached another record high in North Carolina. The average price is now $2.34 a gallon. However, a trade-in might be a smart move if you owe little to nothing on your SUV.
"Consider how much you still owe on the vehicle that you want to trade in,” Davis said. “Consider what that trade-in value would be for you, and then consider how much you actually drive."
AAA says gas prices are nowhere close to topping off. In California, the average cost is $2.72 a gallon.
South Carolina enjoys the cheapest prices in the country. Its average is $2.25.
The happiness continues all these months later as one gets 50+mpg and the other 46 @80mph and 50 @ 65 mph (different driving cycles, though we'll switch vehicles to see if it is all driving cycle/style).
If people want economy, they are going to have to pay for it.
The biggest expense in automobile ownership? Annual depreciation on any vehicle less than five years old. Right behind that is insurance costs, then if the vehicle if financed, the cost of borrowed money (not the money itself, but the "opportunity cost" of tying up investment in vehicle ownership). Nest item on the list, the cost of fuel, comes in about fourth place, and only as the vehicle grows older and older, does the fuel cost become the most important factor in vehicle ownership and operation.
How about repowering the vehicle with the newest of fuel-efficient designs, and running the cycle out for fifteen years, instead of seven or eight? Probably a quarter the cost of replacing the vehicle altogether, and the repowered vehicle is able to take advantage of the newest technology in fuels and efficient design.
Still, some people yearn for the prettiest appliance on the block.
A good diesel will get Hybrid-like gas mileage, but will run from now until the end of the time.
"I work at home so I don't use as much gas as I used to"
Kinda the same here althought it is one heck of a sticker shock when you gas up every couple of weeks and in that peroid of time the prices jump 35c per gallon.
Funny I can hardly see the outside of my truck from the drivers seat, what I can see I like to keep covered in a protective coating of mud.
I hated having too new a truck. It made wheeling no fun at all.
As to spending hours a day stuck in traffic: Sucks to be you!
When used Excursions become cheaper, I'll try to pick one of those up as I miss taking trips in my, now old and out to pasture, Suburban.
In my area I notice that many, perhaps a majority, of the largest and most imposing, SUV's are driven mainly on errands and therefore may not be subject to the punishing high gas prices. Some folks just like to go around in high riding trucks.
I need to buy a new car (not necessarily new car, but a different car) and I don't know what the he** to buy...
What with the new car deals and the backlog of trades. Someone help!!!
I prefer a small SUV with decent fuel economy, but one that is loaded to the max (looking for power everything, leather and a sun/moonroof), preferably with a manufacturer's warranty.
I'm a cheap person at heart - hate to buy new. Any thoughts?
Honda CRV
IMO a better idea would be to get an Odyssey. Your kids can get in by themselves (saving your back from lifting them into the middle row), and it's easier for them to get out. More cargo room to boot. Don't forget better mileage :).
We looked at Suburbans, and ended up getting a van. I don't tow anything.
Go to autos.msn.com for any and all info on new and used cars: 'expert' and user reviews, pics, recommendations, links, and most imp't, invoice prices.
I decide what I want on the Internet, even go test drive one or two if I need to, then go home and shop on the Internet. When I need a car, I shop both used and new, but when I compare with the prices I can buy new for, I find it is not cost effective for me to buy used vehicles. Another advantage of new over used is that if you are financing, you will get a lower interest rate. If you are writing the check, this is not a consideration.
I can almost always buy new for $100 over true factory invoice. I just decide what model, color and options I want, then start calling nearby dealers, but you MUST call the "Fleet Department". I tell them what I want and what I will pay and ask them if we can do business. If they say no, I say thank you and call the next dealer. Most will sell to you at that price, unless it's a new model just out in high demand.
Another tip, check for dealers who are just outside city limits, so have lower sales tax, or in a municipality with a lower sales tax than where you live. Never ever, go in a showroom to buy a car!! Never go through a salesman to buy a car from a dealer. He and his boss have to pack in a commission. If you purchase from a dealer, go through the Fleet Dept. I go to the car shows to check car models out because they don't harrass you there. It's worth the price of admission for that reason.
I used to be in the car business, so I know the ins and outs, but I have been out of it for many years, and I never mention that I was in it. You just have to know how to do business in this way. You can also use Costco or Sams Club Buying Programs if you are a member of either. They will help you do the same thing. Good luck!
Bad Idea IMHO. I bought one of those new, planned to drive it 6 years, but only kept it less than a year. I found the suspension rode hard, and the seats were also exceptionally hard. The combination made for an uncomfortable vehicle. As a result, I reluctantly got rid of it, as otherwise, it was a nice vehicle.
One of our vehicle is a small V-6. It still takes a bundle of cash to fill it up.
Our solution is to reduce our purchases of everything. Use to eat out 4x a month, now it's once a month. We no longer buy anything unless we absolutely need it. Period.
What comes around, goes around.
We're very happy with our 2005 model. Only wish it had a telescoping steering wheel. Very powerful motor.
I'm having tons of fun with my Honda Civic Hybrid.
I support the ideas about retro-fiting older vehicles. As a hybrid driver I can attest to the power that CONSTANT FEEDBACK ON DRIVING HABITS can have on your mileage. The constant feedback allows you to retrain yourself into a more economical driver. What I've learned is this:
1. It's not a race. If your not in a hurry to hit and absolute deadline, then don't rush; you just waste gas.
2. Stomping on the excellerator is a waste, especially with timed stoplights.
3. Driving slower is saver and results in fewer tickets.
Now I can leave the radar detector at home, since I rarely speed.
4. Most cars are engineered to waste lots of gas. They continue to run a stops, have terrible aerodynamics, are way overpowered and weigh way too much. Detroit doesn't care, because, apparently, we don't.
I've actually had people stand and watch the display on the pump to see how much it costs to fill my Suburban.
I love my car and I'm keeping it.
Maybe I'll charge people to watch next time.
"In a Yu-u-go..."
I paid only $13k for my Merc Tracer 6 years ago and it gets 40mpg@ 65-70mph with the AC on max.
It's great little car.
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