Kevin Bresnahan Posted September 5, 2005 Report Posted September 5, 2005 Maybe it's starting... From today's Boston Herald It's a pain in the ga$: Owners of SUVs feel pinch at pump By Donna Goodison Sunday, September 4, 2005 - Updated: 09:57 AM EST A 2000 Ford Expedition, with 60,000 miles on the odometer, went on the auction block Friday at the Adesa wholesale car auction in Framingham. It fetched $6,300. "That would have sold for $50,000 (new) five years ago,'' said Roger Groux, owner of the Honda Barns in North Reading and Stratham, N.H. "It depreciated to the point where it's worth about $1 a pound.'' Surging gas prices are sucking the value from sport utility vehicles. Once considered a status symbol for many drivers, today the SUV has become an albatross. More and more are showing up on used car lots and as trade-ins, and their going prices are dropping - fast. "People are just jumping out of their sports utilities,'' Groux said. "People are getting tired of throwing $100 bills at fill-ups.'' These days, the standard rule of thumb among wholesalers - who purchase the cars up for auction by new car dealers and then resell them - is to take the book value from the Galves Auto Price List and cut that by half. "In last year's normalized market, they'd be worth the book price,'' Groux said. "You can go buy a used, full-sized SUV now for really short money. If you're only driving 5000 miles a year, it's a bargain.'' Meanwhile, consumers are seeing less and less of a return for trade-ins compared to initial big-buck investments. Lisa Geary of Weston is considering trading down. "I can't wait to get rid of this car,'' she said as she stepped down from her 2001 Yukon XL in the Star Market parking lot in Auburndale. "I had buyer's remorse before the gas issues, because I'm past the stroller stage (with her children).'' While paying nearly a C-note hurts, said Geary, she's also worried about one day filling up her gas-guzzler while a line of people behind her do without. "It just seems wasteful to have such a large car if there's going to be a (gas) shortage,'' she said. "We were actually on the computer yesterday looking for hybrids.'' Based on current gas prices, 55 percent of consumers surveyed by R.L. Polk & Co. said they will change the type of vehicle they drive when they buy a new car, the Michigan automotive information company reported last month. "We see that loyalty among owners of large cars and full-size SUVs has dropped more than that of any other vehicle segment over the past year,'' said Lonnie Miller, director of industry analysis. Karen Hickman of Waltham was filling up her Mercedes ML320 at a Waltham Mobile station Friday for the first time since gas prices topped $3 a gallon. She bought the used 1998 model a little more than a year ago. "I really liked the car at the time, not thinking gas prices would go over $3,'' Hickman said. "It's just really bad.'' The 25-cents-a-mile reimbursement she receives from her employer helps, said Hickman, who spent $50 at the pump. "Not too bad, but still, more than I would like to pay,'' she said. "I wish I had a regular, midsize car - a sedan or something.'' Quote
jazzbo Posted September 5, 2005 Report Posted September 5, 2005 My bus pass is still ten dollars per month! -_- Quote
vibes Posted September 5, 2005 Report Posted September 5, 2005 I'm on vacation in Manitoba, Canada, and if I converted liters to gallons and Canadian dollars to US dollars correctly, I think I just paid US$4.07/gallon for premium unleaded. Quote
Soulstation1 Posted September 5, 2005 Author Report Posted September 5, 2005 let's get back to the strippers..... Quote
sidewinder Posted September 5, 2005 Report Posted September 5, 2005 It's headed towards £1 a litre here, which makes it over £4 a gallon.. Quote
ghost of miles Posted September 5, 2005 Report Posted September 5, 2005 Man commuting now by horse I'm biking more than ever now, myself. My wife has to drive to work, and we grocery-shop once a week... outside of that, we're avoiding car use. Are carpools coming back? They were big for awhile in the 1970s when I was a kid. Quote
porcy62 Posted September 5, 2005 Report Posted September 5, 2005 The highest price in Italy today is 6.47 per gallon for unleaded, if I converted all correctly. Quote
danasgoodstuff Posted September 6, 2005 Report Posted September 6, 2005 Filled both vehicles (Studebaker & Mazda) for $2.63/gal recently, but saw a lot of $2.89 & 2.99 per gal of reg on the way to the beautiful Oregon coast yesterday. The trip cost about $20 in gas but was well worth it. Guess I should be glad I don't have that R#-engined Avanti I want, loosey milage and premium, but I'd make it all back racing suckers who don't know how fast a Stude can be... Quote
tonym Posted September 6, 2005 Report Posted September 6, 2005 £1.03 per litre today in one service station Quote
Hardbopjazz Posted September 7, 2005 Report Posted September 7, 2005 My bus pass is still ten dollars per month! -_- ← I wish I could take a bus or train to work. Quote
Jazzmoose Posted September 8, 2005 Report Posted September 8, 2005 Well...I must admit I've found a positive side to this gas crunch. The price has gotten so high now that my wife has actually agreed that my getting a motorcycle is a good idea. If you knew her, you'd know what a hardsell I was expecting... In fact, her last comment on the subject was "maybe I should get one too!" Quote
wesbed Posted September 8, 2005 Report Posted September 8, 2005 The high price of gasoline has forced me to start listening to more AC/DC. Yeah, I don't get it either. Go figure. Quote
sidewinder Posted September 8, 2005 Report Posted September 8, 2005 My boss at work (who drives a flash Audi TT coupe) has recently bought a pushbike. That is a sign of the times ! Wish too I could use my bike but with 25 miles each way and no good rail/bus service I'm stymied. Quote
GA Russell Posted September 8, 2005 Report Posted September 8, 2005 I haven't read all 19 pages of this thread, so forgive me if this was posted before. A friend sent me a jpeg of a gas station price sign. The jpeg is too big to bring over here, so I'll just type what it said, and you can imagine how it looks. LOL 9/10 unleaded OMG 9/10 plus WTF 9/10 premium Quote
Robert J Posted September 8, 2005 Report Posted September 8, 2005 Well...I must admit I've found a positive side to this gas crunch. The price has gotten so high now that my wife has actually agreed that my getting a motorcycle is a good idea. If you knew her, you'd know what a hardsell I was expecting... In fact, her last comment on the subject was "maybe I should get one too!" ← Just be careful if you decide to go to Newfoundland to stock up on Moosehead. Quote
Jazzmoose Posted September 9, 2005 Report Posted September 9, 2005 Wow; I didn't realize there were thirteen of us who had vehicles!! Quote
7/4 Posted September 17, 2005 Report Posted September 17, 2005 I just got back from the store, so I took the highway*, to check out the latest prices: 2.85, 2.90, 2.94, 2.99, 2.99 * I like the back roads, less road rage from other drivers. Quote
Soulstation1 Posted September 22, 2005 Author Report Posted September 22, 2005 i haven't paid above $2.99 a gallon during the past 2 months Quote
Free For All Posted September 22, 2005 Report Posted September 22, 2005 There are a lot of refineries in the vicinity of Galveston- if Rita causes a lot of damage to them we will no doubt see another spike in gas prices. Quote
BERIGAN Posted September 22, 2005 Report Posted September 22, 2005 Yeah, more trouble ahead, it appears. The last few weekends, Atlanta has run out of either the 89 Octane, 93, or both at many stations.... Quote
DukeCity Posted September 23, 2005 Report Posted September 23, 2005 Yeah, more trouble ahead, it appears. The last few weekends, Atlanta has run out of either the 89 Octane, 93, or both at many stations.... ← As I understand it, mid-grade (Octane ca. 89) is literally a mixture of regular (86ish) and super (92 or 93), drawing from the two tanks. So if they run out of either regular or super, then the mid-grade is out by default. Is this correct? Either way, things are looking a little bleak! Quote
Jim Alfredson Posted September 23, 2005 Report Posted September 23, 2005 I filled up both cars tonight since gas was at $2.57 and you can bet your britches that it will shoot up again after Rita. Quote
Free For All Posted September 23, 2005 Report Posted September 23, 2005 you can bet your britches that it will shoot up again after Rita. ← We're talking about Hurricane Rita, right Jim? Quote
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