Collapse in Demand for Large SUVs Leaves Owners in a Bind - Page 2

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[ARCHIVED THREAD] - Collapse in Demand for Large SUVs Leaves Owners in a Bind (Page 2 of 4)

Posted: 6/4/2008 5:11:44 AM EDT

[#1]

I bought a new 1995 Jeep Cherokee Sport for $19K. I still have it with about 150K miles on it. It only gets about 15-16 MPG. It was paid for ten years ago. It has been very reliable and cheap transporation.

Even though it is in good shape it is hardly worth $1K. I doubt I would get that as a trade in. I think I will keep it for a range vehicle.

Posted: 6/4/2008 5:12:20 AM EDT

[#2]

Many folks drive SUV's and full size trucks although they shouldn't be. If your consistently hauling a lot of people and moving large/bulky objects....then that is fine. But you see so many of these vehicles only occupied by driver?

If they are in a financial hardship, it's their fault. Don't blame the escalating oil/gas market. Sure, nobody wants to get raped at the gas pumps but set realistic lifestyle choices. Minus most external factors, you'll do ok.

Posted: 6/4/2008 5:13:11 AM EDT

[#3]

Quoted:

Quoted:
I hope the same happens to the modern muscle cars as well. I'll scoop some of them up in a heartbeat and sit on them til about 2030.

Also, a lot of houses are starting to look attractive now because of prices.

The economy isn't going to tank as bad as the scare media is making it out to be. I see one opportunity after another and I'm sure that I'm not alone.

You won't be buying a Vette then, nobody is crying to sell. They get decent mileage if you keep your foot out of it.

Really who gets one of those to not drive it fast?

Posted: 6/4/2008 5:14:43 AM EDT

[#4]

Quoted:

Quoted:
I really think the whole rush to own a small car is also partly a fad. Many people think that when people see them driving an SUV or a truck that they are some how "stupid" for driving a vehicle that sucks on gas mileage. Same reason people rushed out to buy SUV's "hey look at me, I have the money for one too"

Herd mentality at work.

Yeah, I'm sure everyone will dump them and buy back their 4x4 SUVs when gas hits $5/gal next year.

It might be a herd mentality, or it might be people tired of dropping a benjie a week to fill up. If you drive a lot (not the 10k miles a year dealers and the government estimate) you can actually make up the car payment, plus fuel costs, buying a 50+ mpg car over a 16mpg truck.

Assuming the politicians don't screw us over with the cap and trade BS or confiscate profit from oil companies, gas will be cheap again.

This is the exact same thing that happened in the late 70's. This is nothing new.

Posted: 6/4/2008 5:17:36 AM EDT

[#5]

1992 Ford Escort LX with the five speed manual. I get 35 MPG in the city by hypermiling it. EPA says I should only get 26 in the city. I fill up when it gets 360ish miles on the trip counter and it'll take me over a month and a half to get there. Liability for it costs more per month than fuel for me. I'll probably hang onto it for a while. It's also the hatchback model so I can fit an unreal amount of stuff in the back with the back seat out and the back rests folded down. I'm 6'4" and I can damn near lay down straight in the back. I could camp and sleep in it if I had to. That's a cool car. Everybody should have one.

Posted: 6/4/2008 5:28:13 AM EDT

[#6]

Well, I'm keeping my '99 Blazer and my '08 Sierra. Maybe I'll pull you out of a ditch or something next winter. Ta Ta!

Posted: 6/4/2008 5:30:28 AM EDT

[#7]

Quoted:

Quoted:
Why on Earth did you buy that vehicle in the first place? Sounds like you were into fads when you bought that behemoth.

Why are you so concerned about how the man wants to spend HIS money?? Behemoth? It's about the same size as a Ford Explorer.

upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Lincoln_Aviator.jpg/800px-Lincoln_Aviator.jpg

I am not. I was merely responding to his post where he said he didn't subscribe to fads, yet it seems pretty clear he did. Also when you buy a $40,000 luxury SUV but some how can't afford the gas, it stands to reason that he shouldn't have bought the vehicle in the first place. Just the cold hard truth.

Can't afford gas? I never said that. It just makes sense when the price of gas doubles to look at an alternative. I didn't pay $40K for vehicle either, I paid $27K for it with 10k miles. You assume way too much for someone you are just conversing with over the internet.

Posted: 6/4/2008 5:34:24 AM EDT

[#8]

Quoted:
Many folks drive SUV's and full size trucks although they shouldn't be. If your consistently hauling a lot of people and moving large/bulky objects....then that is fine. But you see so many of these vehicles only occupied by driver?

If they are in a financial hardship, it's their fault. Don't blame the escalating oil/gas market. Sure, nobody wants to get raped at the gas pumps but set realistic lifestyle choices. Minus most external factors, you'll do ok.

One of my favorite "Veggie Tales" songs:

Oh you and me in our sport utility vehicles - crusin to 7-11 for a bag of frito lays. Oh you and me in our sport Utility Vehicles - we’ll slam into 4 wheel drive and pick up a dozen eggs.

Posted: 6/4/2008 5:37:28 AM EDT

[#9]

Goody for me!

I'm saving up o pay cash for a used Suburban next year. I was going to finance one this year but we decided to to wait and pay cash. Not having that monthly payment will help a lot with the high as prices.

Hopefully used SUV's will be even cheaper next year.

Posted: 6/4/2008 5:38:21 AM EDT

[#10]

large vehicles are a great buy now, those of us that saw all this coming and saved our hard currency are reaping the rewards: case in point, just bought a brand new Ram 1500 sticker 27K out the door taxes/tags/7 year extended warrantee 16K

.

Looking at buying a second home also, as I didn't "cash out" any equity in my home that was all the rage in the past 4 years.

When it's cheap stack it deep

Posted: 6/4/2008 5:39:37 AM EDT

[#11]

Quoted:
I paid cash for my used 1999 Suburban, and I'll drive it until the wheels fall off.

The article also neglects a few other expenses associated with new(er) cars, such as higher insurance premiums (I only carry liability coverage, not collision) and the personal property taxes paid to the county each year

, which are based on blue book value. Since the value of the used SUV's is dropping, at least the tax bills will fall for those vehicles as well.

Glad I live where I do that only makes me pay state sales tax once.

The article does make a good point in that it refers to 2-3yr old SUV's. Typically they have 5-6yr (even more sometimes) notes and taking the beating at the pump kind of makes it hard to make that payment.

As for me, I have an 03 Tahoe that is near payoff. Only 65K miles and a 4X4. Sometimes I swear it has a hole in the tank though

(actually, I do look sometimes). I have a boat too, so I need the truck to pull it.

Posted: 6/4/2008 5:42:28 AM EDT

[#12]

Quoted:

Quoted:
I hope the same happens to the modern muscle cars as well. I'll scoop some of them up in a heartbeat and sit on them til about 2030.

Also, a lot of houses are starting to look attractive now because of prices.

The economy isn't going to tank as bad as the scare media is making it out to be. I see one opportunity after another and I'm sure that I'm not alone.

You won't be buying a Vette then, nobody is crying to sell. They get decent mileage if you keep your foot out of it.

Really who gets one of those to not drive it fast?

Newer 'vettes get crazy good mileage.

Posted: 6/4/2008 6:22:36 AM EDT

[#13]

Quoted:

Quoted:
I hope the same happens to the modern muscle cars as well. I'll scoop some of them up in a heartbeat and sit on them til about 2030.

Also, a lot of houses are starting to look attractive now because of prices.

The economy isn't going to tank as bad as the scare media is making it out to be. I see one opportunity after another and I'm sure that I'm not alone.

You won't be buying a Vette then, nobody is crying to sell. They get decent mileage if you keep your foot out of it.

Really who gets one of those to not drive it fast?

Same could be said of the original muscle car era but look what happened in the early 70's. Any car of any flavor could be bought for some cheap cash.

Posted: 6/4/2008 6:40:03 AM EDT

[#14]

Traded in my 01 Z71 Avalanche 5.3L for an 08 Colorado 3.7L back in October/November last year..
I'm lucky I did that when I did, I would have lost $3,500....
I drive 100+ Miles per day..
Payment and Insurance is the same..
Just the Gas is Half as Much...

CXS

Posted: 6/4/2008 6:40:24 AM EDT

[#15]

Quoted:

Quoted:
I paid cash for my used 1999 Suburban, and I'll drive it until the wheels fall off.

The article also neglects a few other expenses associated with new(er) cars, such as higher insurance premiums (I only carry liability coverage, not collision) and the personal property taxes paid to the county each year

, which are based on blue book value. Since the value of the used SUV's is dropping, at least the tax bills will fall for those vehicles as well.

Glad I live where I do that only makes me pay state sales tax once.

You pay state sales tax once when you first get the title. The county charges personal property tax annually on all vehicles, including trailers, boats, etc.

Posted: 6/4/2008 6:45:55 AM EDT

[#16]

I hear SUV owners are buying old Geo Metros and putting a little money in them.

Posted: 6/4/2008 6:50:43 AM EDT

[#17]

The amount folks are going to get boned by trading their "gas guzzler" would cover plenty of gas for a while.

This is kind of a replay of the mid-late 70s. It's unfortunate that folks get played by market circumstances out of their control, but no sense in bending over for the dealer, either. Makes it easy for the dealer to say, "market goes up, we make money - market goes down, we make money.

And if this is a specualtive bubble that bursts, the reverse will occur as the stampeding herd moves to larger vehicles and the small efficient trades "just don't have any value right now."

Posted: 6/4/2008 6:57:40 AM EDT

[#18]

Quoted:

Quoted:
I hope the same happens to the modern muscle cars as well. I'll scoop some of them up in a heartbeat and sit on them til about 2030.

Also, a lot of houses are starting to look attractive now because of prices.

The economy isn't going to tank as bad as the scare media is making it out to be. I see one opportunity after another and I'm sure that I'm not alone.

You won't be buying a Vette then, nobody is crying to sell. They get decent mileage if you keep your foot out of it.

Really who gets one of those to not drive it fast?

Newer 'vettes get crazy good mileage.

My '91 Vette gets 25+ mpg on the highway....38k original miles....perfect condition...garage kept since new...and I can't give it away...it has been on Craigslist for 6 weeks and not one single person contacted me. I am just gonna have to wait until the hysteria calms down....my buddy sold a 4 cyl beat up Cavalier in 4 hours on Craigslist

Posted: 6/4/2008 6:58:00 AM EDT

[#19]

Quoted:

Quoted:
I paid cash for my used 1999 Suburban, and I'll drive it until the wheels fall off.

The article also neglects a few other expenses associated with new(er) cars, such as higher insurance premiums (I only carry liability coverage, not collision) and the personal property taxes paid to the county each year

, which are based on blue book value. Since the value of the used SUV's is dropping, at least the tax bills will fall for those vehicles as well.

Glad I live where I do that only makes me pay state sales tax once.

You pay state sales tax once when you first get the title. The county charges personal property tax annually on all vehicles, including trailers, boats, etc.

Not in Texas... and most other states.

Quoted:
I really think the whole rush to own a small car is also partly a fad. Many people think that when people see them driving an SUV or a truck that they are some how "stupid" for driving a vehicle that sucks on gas mileage. Same reason people rushed out to buy SUV's "hey look at me, I have the money for one too"

Herd mentality at work.

I heard it said once - If you leave people alone, they generally imitate eachother.

Posted: 6/4/2008 7:02:32 AM EDT

[#20]

Quoted:
large vehicles are a great buy now, those of us that saw all this coming and saved our hard currency are reaping the rewards...

Yup. My wife and I just ditched her sedan and my Silverado truck (which were getting up in years) and bought two SUVs. We were able to get a killer bargain because we bought two at once, and the dealer was struggling to sell them.

I actually get 4mpg better gas mileage in the SUV than I did in the truck. (Gas doesn't matter much for the wife, since she only puts about 3,000 miles a year on her vehicle.)

Posted: 6/4/2008 7:02:54 AM EDT

[#21]

I drive my vehicles until they fall apart. I don't have much sympathy for someone who can't trade in their escalade to get a new car just so they can keep up with the neighbors in the rat race.

Posted: 6/4/2008 7:07:43 AM EDT

[#22]

I have a new 3/4 4x4 diesel truck (paid cash). I'll never sell it.

Right now I'm on vacation. I rented a Mercury Marquis and dove it from Pa to Az. Sure I could have gotten something a lot smaller, but who wants to spend 3 days straight driving a tin can? Besides, the Merc has been getting right at 24mpg.

I've had no trouble getting hotel rooms, and traffic has been very light, so I'd say a lot of people are having a tough time right now.

Posted: 6/4/2008 7:08:48 AM EDT

[#23]

Quoted:

Quoted:
I really think the whole rush to own a small car is also partly a fad. Many people think that when people see them driving an SUV or a truck that they are some how "stupid" for driving a vehicle that sucks on gas mileage. Same reason people rushed out to buy SUV's "hey look at me, I have the money for one too"

Herd mentality at work.

Well $100 fill ups with no relief in sight might have something to do with it too. I am not into fads I drive a 13 year old 4 banger pick up truck myself. My wife drives about 50 miles a day though and at 14 MPG and $4 gas it has got to the point where you'd be crazy not to consider and alternative.

OK, go trade in your 13 year old pickup for something that gets twice (or even three times) the fuel economy. After the dealer gives you $300 for your truck, how much money are you going to save when you plunk down $20-$25K for a new car?

$25,000 buys a lot of gas...and you don't have to spend it all now.

You'd be better off keeping your truck and investing that $25K.

There's a point where you get a free car, though. Not sure that 50 miles per day does it, but we're money ahead on our $15k Scion. Make a $250 payment and save $400 on fuel each month. No trade ins, just sacrificing a little more garage space.

Posted: 6/4/2008 7:10:56 AM EDT

[#24]

just plan on your insurance rates going up as all the suv's that get totaled in accidents so the owners can go get smaller cars.

we get to pay for peoples houses they couldn't afford and next there cars.

Posted: 6/4/2008 7:17:29 AM EDT

[#25]

Eh, I'm keeping my paid-for Dakota 'til it falls apart.

I can see how it would be a bind but... Oh well.

Posted: 6/4/2008 7:17:46 AM EDT

[#26]

Quoted:
I drive my vehicles until they fall apart. I don't have much sympathy for someone who can't trade in their escalade to get a new car just so they can keep up with the neighbors in the rat race.

Me too. When I buy a car, I don't even pay attention to resale value - I buy them for their reliability, and generally plan on owning them for about 8 years.

Posted: 6/4/2008 7:21:25 AM EDT

[#27]

Quoted:
just plan on your insurance rates going up as all the suv's that get totaled in accidents so the owners can go get smaller cars.

we get to pay for peoples houses they couldn't afford and next there cars.

"And our top story tonight... a rash of car fires in the area has local police baffled..."

Posted: 6/4/2008 7:21:35 AM EDT

[#28]

Quoted:
i love my SUV. Its paid off and a hybrid wont tow my boat

+1 and I get around 22mpg in my FJ and the fact that I can get around in winter makes it worth it all around even in the summer(used to have a subaru wrx and got stuck often in deep snow)

Posted: 6/4/2008 7:22:00 AM EDT

[#29]

33,000 miles on my 2003 Rodeo to date.. My last vehicle lasted 300,000+ miles and 15 years before I bought the Rodeo. As it stands now I'm going to be shopping for another truck. Seems like the prices are starting to drop to a point I'm wiling to spend money on them.

Posted: 6/4/2008 7:23:50 AM EDT

[#30]

Quoted:
I really think the whole rush to own a small car is also partly a fad.

I think you are wrong. For many years back in the '80s, even after the oil shock was over, people drove smaller cars, or at least cars that met the size they needed. Camrys were very popular.

SUVs were the fad; they only were popular because vans/minivans were "out of style."

Posted: 6/4/2008 7:24:54 AM EDT

[#31]

Quoted:
Me too. When I buy a car, I don't even pay attention to resale value - I buy them for their reliability, and generally plan on owning them for about 8 years.

My car is 8 years old and the odometer just hit 50K.

And, I just bought a motorcyle.

I'll be driving my car for years to come.

(All you SUV guys don't even want to know what I pay a month for gas.

)

Posted: 6/4/2008 7:28:34 AM EDT

[#32]

My current daily driver is a 2000 Tahoe I bought about a year ago. Gets 16.5 mpg average. If I went to a Civic getting 35 mpg, I would save $200/month in fuel at today's prices.

If I run across an absolute steal of a deal (< $2500 cash) I might pick up a used Civic and park the Tahoe as a daily driver, but the payoff in fuel savings will have to be no more than 12 months to make it worth my time.

I wish I had waited to buy the 'Ho, because Suburbans in the same model year range are really cheap in my area. Seen more than one for sale lately in the $4000 range.

Posted: 6/4/2008 7:35:23 AM EDT

[#33]

Dammit, it's not fair that these hard-working Americans are getting screwed by market forces that are out of control! They are victims of marketing campaigns by greedy automobile companies. What we need is a massive, government-sponsored program to refinance the loans of these poor people who are stuck with upside-down loans on vehicles they can no longer afford to keep.

Posted: 6/4/2008 7:36:00 AM EDT

[#34]

Since 2007? When I was shopping in late '02 I wsa concerned about rapidly increasing gas prices that have only continued to rise. I bought a manual coupe at the time and couldn't be more pleased with the selection. I don't think it should have taken until 2007 to see the writing on the wall. I've been baffled for some time as to how people can afford payments/fuel/insurance and maintenance on a fleet of behemoths.

Posted: 6/4/2008 7:39:23 AM EDT

[#35]

I took the plunge and bought my first new used car in ten years-a 2004Lexus LX 470. The price was 60% off new-its certified pre-owned. As I drive only 3,000 miles a year (I take train to work), I was able to get a great deal on a truck I always wanted. That's the beauty of the U.S. economy (with absolutely no disrespect to those who are hurting from high fuel prices).

Posted: 6/4/2008 7:54:40 AM EDT

[#36]

So you are now a slave to your SUV's?? You don't go out and enjoy life because you own two large trucks.

Great investment, no no, really.

Posted: 6/4/2008 7:59:44 AM EDT

[#37]

Quoted:
So you are now a slave to your SUV's?? You don't go out and enjoy life because you own two large trucks.

Great investment, no no, really.

But lovey needs an SUV my good man, how else can she haul around our two kids and her ankle-biting lapdog? Besides, not being able to sit up high in traffic gives her the vapors for heaven's sake.

Posted: 6/4/2008 8:18:34 AM EDT

[#38]

Quoted:

Quoted:
So you are now a slave to your SUV's?? You don't go out and enjoy life because you own two large trucks.

Great investment, no no, really.

But lovey needs an SUV my good man, how else can she haul around our two kids and her ankle-biting lapdog? Besides, not being able to sit up high in traffic gives her the vapors for heaven's sake.

Please... people that talk like that wouldn't be caught dead driving a "truck".

Posted: 6/4/2008 8:22:33 AM EDT

[#39]

My cars have all been paid for for years. Fuck a car payment.

My 00' Jeep Wrangler gets shitty mileage (13 to 16hwy) but it's fun.

Posted: 6/4/2008 8:24:07 AM EDT

[#40]

Quoted:

Quoted:
So you are now a slave to your SUV's?? You don't go out and enjoy life because you own two large trucks.

Great investment, no no, really.

But lovey needs an SUV my good man, how else can she haul around our two kids and her ankle-biting lapdog? Besides, not being able to sit up high in traffic gives her the vapors for heaven's sake.

Please... people that talk like that wouldn't be caught dead driving a "truck".

They drive escalades around here. If you seen one on the streets it's usually either a drug dealer, a Howell, or their spoiled brat kid.

Posted: 6/4/2008 8:26:03 AM EDT

[#41]

I still want a Toyota Tacoma.

Posted: 6/4/2008 8:29:23 AM EDT

[#42]

Quoted:
I really think the whole rush to own a small car is also partly a fad. Many people think that when people see them driving an SUV or a truck that they are some how "stupid" for driving a vehicle that sucks on gas mileage. Same reason people rushed out to buy SUV's "hey look at me, I have the money for one too"

Herd mentality at work.

I bought my SUV at a firesale so I saved more on purchase price than the gas savings on a smaller rig!

Posted: 6/4/2008 8:32:05 AM EDT

[#43]

Quoted:

I hear SUV owners are buying old Geo Metros and putting a little money in them.

i29.tinypic.com/2lut8cx.gif

Did you hear about the woman a couple weeks back that bought a Geo something-or-other for $7500 so she could save money on gas?

This is not a joke; it was a real person. And she thought she could buy more of them and "flip" them for profit!

(Brand-new those suckers weren't much more than $7500 - whoever sold her that car made a KILLING!)

Posted: 6/4/2008 8:35:12 AM EDT

[#44]

Quoted:

Quoted:
Full size trucks etc. are fine as long as you do not have a $3-400 payment.
Big payments plus 16mpg = financial suicide.

$430+ per month an 12.5 MPG, and enjoying my truck.

You are in denial.

Why is that? I have a $530.00 month Tundra payment for my business. I also write off about 1,000 miles a month at what, $0.52 a mile now? Some of us actually need a truck out in the country.

Posted: 6/4/2008 8:39:49 AM EDT

[#45]

Quoted:
I drive my vehicles until they fall apart. I don't have much sympathy for someone who can't trade in their escalade to get a new car just so they can keep up with the neighbors in the rat race.

Gold, pure gold.

"But little Taylor and Hannah are not going to enjoy riding to soccer games in those tiny econobox deathtraps!"

Posted: 6/4/2008 8:40:05 AM EDT

[#46]

I am waiting for the .gov to step in and save all of us truck/suv owners from loseing our asses...

Wonder what kind of subsidized program will be released.....

Posted: 6/4/2008 8:40:56 AM EDT

[#47]

Quoted:

Quoted:

I hear SUV owners are buying old Geo Metros and putting a little money in them.

i29.tinypic.com/2lut8cx.gif

Did you hear about the woman a couple weeks back that bought a Geo something-or-other for $7500 so she could save money on gas?

This is not a joke; it was a real person. And she thought she could buy more of them and "flip" them for profit!

(Brand-new those suckers weren't much more than $7500 - whoever sold her that car made a KILLING!)

I just looked on ebay and geo metros (the High MPG model XFi) are going for $4000 + with well over 100k miles

wow geo metro owners must be loving life...if they are so great why sell them

Posted: 6/4/2008 8:44:00 AM EDT

[#48]

Quoted:

Quoted:

I hear SUV owners are buying old Geo Metros and putting a little money in them.

i29.tinypic.com/2lut8cx.gif

Did you hear about the woman a couple weeks back that bought a Geo something-or-other for $7500 so she could save money on gas?

This is not a joke; it was a real person. And she thought she could buy more of them and "flip" them for profit!

(Brand-new those suckers weren't much more than $7500 - whoever sold her that car made a KILLING!)

She probably will be successful. Look up the "Greater Fool" theory. Some people are irrational.

Posted: 6/4/2008 8:45:38 AM EDT

[#49]

See, this is great for me. I have an 06 Ford Fusion. I'm 6'4, and there's plenty of room for me. It's my daily driver. Less than a year until it's paid off also.

But, the reason this is great for me is I can get a boat and a truck now. Finally. And hopefully pay cash for both. Everyone is dumping boats and trucks, and people like me get to reap the rewards of all the tards that bought a truck or SUV to sit in city traffic everyday by themselves for the daily commute, and didn't even need one. Believe me, there are a LOT of people that did this. And I'll finally get my boat for cheap. Thanks morons!

Posted: 6/4/2008 8:49:36 AM EDT

[#50]

Got a Suburban that does everything I need it to do. I drive a Honda as a daily commuter, so the Suburban sits waiting for me when it's needed. Don't care if it's worth less money now.

[ARCHIVED THREAD] - Collapse in Demand for Large SUVs Leaves Owners in a Bind (Page 2 of 4)

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