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SUVs Crossover SUV Comparison
7127 messages, Last post on Nov 28, 2009 at 8:31 PM
You are in the SUVs Forum. Your Hosts are steve_ & tidester
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Replying to: bobw3 (Aug 07, 2008 6:41 am) Amen to that. unless you really, reallly need AWD, why would you not buy an Odyssey or Sienna You can even get AWD on a Sienna, though you'll have to take the run-flats along with it. We like our Forester, but it would be nice if Subaru also offered their Exiga here, i.e. a small minivan to compete with the Mazda5 and Kia Rondo. 
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I was in the local dealer again recently and while waiting for my salesman, I had the chance to eavesdrop on a conversation going on between the finance manager and a customer. They were a middle aged to retired couple looking to buy a passenger car and trade-in their SUV with 10 months remaining on its lease. They became quite upset when it was explained to them that their vehicle was worthless and in fact, the cheapest thing to do was to pay off the remaining ten payments and then return the SUV. The finance manager was very reasonable and simply tried to explain the realities of residual values and the current market. I have to say that I had no sympathy for the customers. They did not appear unsophistocated or financially disadvantaged but the gentleman couldn't get past the difference between residual value and a guaranteed trade in value. I don't care what any salesman might have said, if leasing costs 2/3 the monthly payment of financing, don't expect a big payout at the end - it's simple common sense. If you want to cut and run earlier, don't expect to get off for free. You will always be upside down on a lease - the current realities just made it worse. The irony here is that the customer isn't the victim, it's the leasing corporations. Leases have in fact gutted the Big 3 to the point they have dropped them or are dropping any incentives on rates since their recent losses are measured in the billion$. The bad news for us is that good lease rates or even leasing itself (especially in Canada) are gone, but the upside is that prices and finance deals for CUV's should be generous for those of us looking to buy in the near future.
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Replying to: ateixeira (Aug 08, 2008 12:05 pm) |
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Replying to: volkov (Aug 09, 2008 9:36 pm) What is my big SUV worth? $2000 less than it was worth last week, and probably $2000 more than it will be worth next week. 
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Replying to: ateixeira (Aug 11, 2008 9:47 am)
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Replying to: volkov (Aug 11, 2008 10:30 am) I'm kind of surprised. I guess they have to market it to people who are immune to high gas prices. 
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Replying to: ateixeira (Aug 12, 2008 7:10 am) Kia did miss the boat by 10 years on this one, though.
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Replying to: thegraduate (Aug 12, 2008 7:13 am) |
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Similar situation, here. I've got a 2004 4-Runner SR5 V8 that I could given back on a lease, (before the bottom fell out of the truck/suv market), but instead paid out the residual. As gas prices started climbing through the roof, my desire to drive the V8 started diminishing. However, I heard an interesting radio show, that unless you're dumping the truck/suv for a very cheap car, (Fit, Yaris, Versa, Aveo, etc), you will not be saving any money, as the savings in gas are outweighed by the depreciation in the vehicle. Further, if you go from a truck/suv into a compact, or sub-compact vehicle, you are losing the function of the truck/suv that you purchased in the first place. It is better to be light on the pedal of the truck/suv, and eek out the best mileage possible, presuming one has already paid for the vehicle.
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Replying to: robm2 (Aug 12, 2008 1:59 pm) Depends on how many miles you drive. You may end up saving thousands of dollars per year by unloading the SUV, so even if you lose $5000 in selling the SUV, you'll make that up in a couple of years in gas savings, again, depending on the miles you drive, the price of gas, and the MPG difference of the new car. |
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