Last post on Sep 02, 2008 at 9:40 AM
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#55 of 94 Re: NY Times Article [michaell]
Jun 25, 2008 (7:15 am)
B) Buying a smaller car and leaving the truck or SUV at home
We had a discussion in another forum about a dealer who incorporated this reasoning in their advertising. Sounds odd at first, but if the numbers are there it can make a lot of sense. Certainly more sense than taking a big hit on trade when upside down.
Beside, trucks and SUV's were originally conceived as special purpose vehicles. They just became popular general purpose vehicles.
#56 of 94 Re: Au Contraire [gagrice]
Jun 25, 2008 (7:59 am)
"If you take even a $4000 below BB hit you could buy 1000 gallons of gas which should be a years worth even with an Escalade."
OK, that covers this year. And then...?
I do agree though that someone who could afford an Escalade should now be able to afford to just park it except for occasional duty and buy a small gas-sipper for daily tasks. As someone else stated, people seem to have forgotten that the very purpose of SUVs originally was special duty, not daily commuting and errands. I would think in the Escalade woman's case, it would pencil out to keep the Escalade in the driveway for the occasional trip to the mountains, and buy a small car for driving around town and stuff. And when I say pencil out, I mean within five years if she buys new, maybe 3-4 years if she buys used-but-young, she will break even on the gas savings alone vs the Guzzle-lade. Depends a lot on the number of miles she drives per year, of course. If she was"desperate", I am assuming that number is fairly high.
#57 of 94 Re: Hydrogen still Pie in the Sky [flash11]
Jun 25, 2008 (8:00 am)
What did the GM exec say, that 135 million hydrogen cell cars could be fueled each day by the hydrogen the oil industry presently produces to refine oil???
Did you believe him? Is it possible he is trying to drum up more Federal money from a Congress that make chimpanzees look like rocket scientists?
#58 of 94 Re: Au Contraire [nippononly]
Jun 25, 2008 (8:06 am)
Just keeping the big SUV and buying a small commuter makes the most sense to me. Most of these people owe as much or more on the SUV as it is now worth. So basically they add whatever negative amount is owed on the SUV to a new small car. That makes it more difficult to ever get ahead. It is just too bad that our schools have not taught people common sense economics instead of all the multi cultural BS they get. We are spawning generations of economic idiots. Many are already old enough to run for Congress and get elected.
#59 of 94 Re: Hydrogen still Pie in the Sky [gagrice]
Jun 25, 2008 (8:20 am)
"a Congress that make chimpanzees look like rocket scientists"
Hey, you can skip the snide remarks, sir. Equating the Congress of the United States of America to a bunch of chimpanzees is completely unfair..... to CHIMPS! Primates are sensitive, intelligent beings.
"our schools have not taught people common sense economics. We are spawning generations of economic idiots."
... which makes it much easier for Congress to engage in the economic fraud it perpetrates on us. The latest is the $300 billion suckers bailout for people who bought houses with scam mortgages and now can't make the payments.
You and I get to subsidize new loans for them so they can keep living better than we do. And the only "debate" is whether to set the loan limit at $600,000 or $700,000.
The average homeowner in the United States has a $200,000 house. This, of course, begs the question of who is really getting bailed out?
We'd all be better off with 435 chimps in the House and Senate. Aside from the predictable banana subsidies, they'd be much more fiscally responsible.
#60 of 94 Re: Au Contraire [gagrice]
Jun 25, 2008 (8:47 am)
Yes. When you bottom line it, all people want to do is ease the pressure on their monthly budget. If their choices pushed their budget to the limit in the first place, that wasn't the most wise decision. Assuming they really could afford the payment and the fuel costs 2 years ago, it makes a bunch of sense that they probably could afford to park the guzzler and buy a sipper. Obviously there are a bunch of folks realizing that the sipper fulfills the bulk of their transportation needs. It does depend on the specific numbers. The big hit doesn't do anything but make the bigger picture even worse. Sort of a missing the forest for the trees kind of thing.
My dad has a diesel Excursion. He used to drive a bit more, but when I visited him a couple of weeks ago he mentioned that now it doesn't get driven unless there are more than 4 people who will ride. It had been driven about 100 miles in the last 2 months. He has another truck available for hauling purposes. He has a 300 he uses for most of his driving. He just bought a Prius for running around. He can pay cash for his cars and he can afford the gas, he just doesn't warm up to just throwing money away. Certainly not everyone will have the financial wherewithal to own a personal fleet of 4 or 5 cars. I just bet that there are a bunch who could swing two and come out ahead on a monthly basis.
#61 of 94 Re: Hydrogen still Pie in the Sky [1stpik]
Jun 25, 2008 (10:34 am)
If any chimps are watching Edmund's my apologies
I am never surprised anymore what comes out of our Congress. The home mortgage bailout being no exception. I know 3 people personally that have lost their homes. One is related to my wife. They sat across from us at our table 3 years ago trying to get us involved in their scheme. Well it went sour and they are filing for bankruptcy. They are also camping in our home that we moved out of. We are not pushing it until the market turns around. I cannot see losing a lot of equity if we do not have to. My wife and I are both very frugal so buying a car just because the price of fuel goes up, makes no economic sense to either of us. I may buy a small diesel VW Sportwagon if we like them when they hit our shores.
#63 of 94 Re: They are filing for bankruptcy. [gagrice]
Jun 25, 2008 (3:05 pm)
Filing for bankruptcy is the Genesis for compounding their problem by ruining their Credit rating. The next time they apply for credit for anything, they are sunk.
When you sign a "Promissary Note" & grant the loan company a mortage, you are legally obligated to satisfy the agreement. Why trust a divorcee who walked away from her marriage, when things got tough, her mortage, when things got tough, and her car payments, when things got tough? Where is the committment to promises these days?
And, why should frugal conservatives be taxed to bail out the reckless liberals?
#64 of 94 Re: They are filing for bankruptcy. [euphonium]
Jun 25, 2008 (5:06 pm)
Seems the reckless old conservatives who gained any means via cronyism and ingeritance (yes, you) who are more than happy to bend over to neocon cowardice in hopes of making a few bucks have created more ruin than the wildest "liberal".
Please take your illiterate and credential-free political slop elsewhere.