Haven't followed ebb and flow of this thread, but interesting article today in Wash Post about poor sales/values for gas guzzlers. Excerpt follows, with link to full article below:
When gas hit $2, and even when it reached $3, car dealers saw little change in their monthly tallies. People grumbled, but they still bought cars and let their fantasies govern their decisions. If they wanted something that would dominate the road, they dug a little deeper and took out a loan.
A woman came in the other day and traded her BMW X5
, which was worth $30,000, straight up for an Acura MDX
, which was worth $22,000. "Same year, same miles," Moalem says. "She was willing to take an $8,000 loss on the BMW
just to get her gas payments lower. She wanted out of that eight-cylinder, now."
These days, when someone does come in and does make a deal, odds are that the customer is going to leave without that little-kid smile that used to accompany the purchase of new wheels. A guy walked in last week to trade his Ford Expedition
, a true behemoth of a vehicle. Problem was, he'd just put $4,800 of repairs into the SUV. Then he learned that all the dealer would give him for it was $2,500. This does not make for a happy customer.
"I said, 'Why'd you put all that money into it? Nobody wants this car!' " Moalem says. "Now he's got negative equity in the car.http://www.washingtonpost.com/wp-dyn...l?hpid=topnews