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Have Suv Prices Hit Rock Bottom?

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Zembonez Senior Enthusiast

Zembonez

Posted
Posted

Prices for large SUVs are going to drop more.

 

I buy hundreds of cars at the wholesale level. Smaller SUV prices have dropped some but large SUVs like Suburbans and Expeditions have lost as much as 40%. There are 03 - 04 Suburbans with reasonable miles available for well under 10 grand now. As financial idiots charge to dealerships to lose loads of money trading for smaller cars, the market gets overloaded with vehicles that "nobody wants" and the price plummets. Simple supply and demand.

 

What a great time to buy a Suburban! If the right one comes along, I'm gonna write a check for one!

 

Thank God for idiots!

rvsahs Senior Enthusiast

rvsahs

Posted
Posted
Prices for large SUVs are going to drop more.

 

I buy hundreds of cars at the wholesale level. Smaller SUV prices have dropped some but large SUVs like Suburbans and Expeditions have lost as much as 40%. There are 03 - 04 Suburbans with reasonable miles available for well under 10 grand now. As financial idiots charge to dealerships to lose loads of money trading for smaller cars, the market gets overloaded with vehicles that "nobody wants" and the price plummets. Simple supply and demand.

 

What a great time to buy a Suburban! If the right one comes along, I'm gonna write a check for one!

 

Thank God for idiots!

+1 Unless fuel prices get more expensive and/or they really put the miles on the pedal-pusher, it's hard to make up the difference in fuel savings alone.

mkelly Enthusiast

mkelly

Posted
Posted
Prices for large SUVs are going to drop more.

 

I buy hundreds of cars at the wholesale level. Smaller SUV prices have dropped some but large SUVs like Suburbans and Expeditions have lost as much as 40%. There are 03 - 04 Suburbans with reasonable miles available for well under 10 grand now. As financial idiots charge to dealerships to lose loads of money trading for smaller cars, the market gets overloaded with vehicles that "nobody wants" and the price plummets. Simple supply and demand.

 

What a great time to buy a Suburban! If the right one comes along, I'm gonna write a check for one!

 

Thank God for idiots!

 

What really cracks me up is that all these people go buy "fuel effecient" vehicles to save gas..... Man, you can buy a lot of gas for the price of the monthly car payment :cool:

omegafiler Senior Enthusiast

omegafiler

Posted
Posted
Prices for large SUVs are going to drop more.

 

I buy hundreds of cars at the wholesale level. Smaller SUV prices have dropped some but large SUVs like Suburbans and Expeditions have lost as much as 40%. There are 03 - 04 Suburbans with reasonable miles available for well under 10 grand now. As financial idiots charge to dealerships to lose loads of money trading for smaller cars, the market gets overloaded with vehicles that "nobody wants" and the price plummets. Simple supply and demand.

 

What a great time to buy a Suburban! If the right one comes along, I'm gonna write a check for one!

 

Thank God for idiots!

 

What really cracks me up is that all these people go buy "fuel effecient" vehicles to save gas..... Man, you can buy a lot of gas for the price of the monthly car payment :lol:

 

 

I guess those were the kids that never understood why they needed to pay attention in math class. :lol: But can't bash all of them, I know some have done the math, and it does work out for them. I also know plenty of other folks who just freak out everytime the media tells them to, and go run out and do something stupid.

 

Unfortunatley, those "idiots" have made it just about impossible to sell or trade Trucks/SUV's these days. Well, unless you want to give it away. Which I'm certainly not going to do. At this rate, my future vehicle upgrade will most likely be a 2nd vehicle.

 

Oh well, I guess I'll manage! :cool:

Zembonez Senior Enthusiast

Zembonez

Posted
Posted

I think this whole thing hinges on where oil prices go in the coming months. (yeah I know you don't have to be an Einstein descendant to figure that out)

 

If we see a steady increase and prices start tickling the 5 buck range, people will certainly continue shedding their SUVs and heading for the Cobalt aisle. SUV prices will drop like a rock for sure if that happens. On the other hand, if oil prices were to begin a slow decline, short memories would have the SUV prices pick up as sales increase.

 

Unfortunately, the 5 buck gas scenario looks like the one that will be the winner here. Oil over 144.00 today at one point... not sure where it closed. :cool:

kasimar3 New Member

kasimar3

Posted
Posted

I agree that the "math" works out for some people to trade and for others it doesn't. If you don't have a car payment then it makes sense to keep your vehicle. No monthly gas bill will ever be more than a car payment. On the other hand if you already have a car payment than it may make sense to trade. I just last month traded a 2006 GMC Sierra Crew Cab in on a 2008 Pontiac Torrent. It made sense for me because I already had a car payment with three years left on the loan. I went from a full size pickup that got on average 14 MPG in the city and 19 on the highway to a small SUV that is currently averaging around 20 in the city and about 24 or better on the highway. What also was a win, win situation for me was I reduced my monthly car payment by over $110 a month. Granted I extended my paymets for another two years though but the offset is I got a newer vehicle. I also got a better interest rate with my local credit union (4.25 %). The only down side of the whole thing is that I took a hit on my trade in. The dealership only gave me $17,000 for my Sierra which was in great shape and only had 18,000 miles.

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