Capitalism ping.
America's editorial shortage continues.
Finally, now that everyones taken HUGE depreciation hits on their SUV's... I can go buy me a 50k one for 15k... I might think about it.
Trading them in
Who is going to buy them off the used car lot
Surprised they are even being given trade in deals
I'm gonna drop a 427 big block in my G20 Cargo van and get rid of that puny 350.
PREDICTION: Five years from now, certainly within ten, the Japanese car dealerships aren't even going to take American-made SUV's in trade anymore.
There won't be any market for them with gas at $5-6 (or HIGHER) per gallon.
And they won't "lose potential sales" from refusing the tradeins, as folks will be beating down their doors for fuel-efficient and reliable vehicles....
- John
I've got a 2005 Honda Odyssey with a 250hp six cylinder. It shuts down three cylinders when cruising. 22 mpg in the city 28+ on the highway.
If you folks think the increased gas prices are expensive, why don't you consider the price of a new car payment?
...that is, unless the car you're buying will have the same or lower payment. For me, gasoline prices would have to get up to $25/gal before it would be cheaper to buy a new car with better fuel economy. Mine are both paid for.
If you can afford it, get a smaller car to use for most of your driving and keep the SUV.
Before you do that, take this little test:
1. Calculate the number of miles you drive per year/month.
2. Based on this number, determine the number of gallons you will consume per year/month at your 16mpg rate AND determine the number of gallons you will consume per year/month at rates of 20 mpg, 24 mpg, and 30 mpg.
3. Calculate how much money you will LOSE by trading out of your SUV.
4. Calculate the amount of money you will spend getting a new vehicle.
5. Calulate how long it will take you based on the monthly reduction in gallons of gas consumed for your gas savings to offset the financial bath you take by trading out of your SUV.
The only thing that will kill SUV's would be long-term fuel rationing. Otherwise, people with money will keep on paying.
SUVs have been around for a while now. That alone would tend to increase the numbers of SUVs being traded in. I did look at hybrids last year at trade-in or buy time, but decided to keep the old SUV, probably forever, the cost of fuel still not being as big a deal as the cost of the vehicle.
I'll take those gas-guzzling '70s muscle cars off your hands! Man, missed my chance back in the Carter years to score. They were giving away 426 hemis!