people unloading their "gas guzzlers"....

Willing to take losses of thousands of dollars to get a vehicle that saves some gas money.

Interesting.

http://www.boston.com/news/local/mas...heir_guzzlers/

The psychology of spending money is never boring. How long will it take to make back the thousands "lost" on a vehicle sale while driving a Yugo, not to mention loosing the reason you bought a truck in the first place - large family, towing, sporting etc.

There is always a cost to every decision.

 

I don't think you are going to see a huge decline in 'large vehicle' purchases for those that buy them with a real need.

I think the biggest factor here are those folks that took out second mortgages on their homes (cash out equity?) to spend big-bux on escalades and navigators....

You have *no* idea how many soccer moms are running around in expeditions, navigators and escalades where I live.

For myself, I drive my f-150 a few miles a day.... so it doesn't impact me as much... but to be honest, when taking family trips (i have 3 kids, plus a wife), I am taking the minivan more often.... That 4mpg really does make a difference.

I have also considered purchasing a smaller vehicle for local runs here and there.... and just leaving the f-150 as the towing vehicle (which i why i bought it originally).

So, while there is a definite cost, people selling their gas guzzlers at a loss may seem silly at the moment, but if they have no real need for a heavy duty truck, it is kinda pointless to keep it....

... and lets not forget that we are gonna be at $5/gallon by the end of the year....

 

Maybe some people can afford to loose money on their gas guzzlers for the good of the environment, country, or they are sick of giving these gas companies all that money!!!!!

 

I hate paying the extortion/terrorist fees at the pump too. But, I have 6 kids (5-17), and like the outdoors. I would need 3 Hyundais to haul us all around, so where's the savings inthat?

Besides, I like my truck. It rides well, is comfortable and in my opinion, a lot safer than a little car.

I do think we need to be 'pushed' to develop other forms of useful energy. Who knows, maybe these high prices are the only way people will feel the need to do something else.

I still like my truck

 

Oh please give me a break. Your not giving the gas companies any more than before. There profit margines are the same they have been.. in good times and bad. I am sick of people demonizing the oil companies. Put the blame where it belongs... the US government who won't let us drill for oil where we know it is. Period.

 

WHAT??!!! Are you insane? Do you read the news? Exxon/Mobil has been posting RECORD profits for the past year.. 10 billion a quarter. Thats 40 billion in PROFIT a year. That is new.. No one has ever made that much money, no company, ever. Why?? CAUSE OIL IS 120 a barrel! 2 years ago, it was 50.. So please, use your head. If you have a product that you are producing X amount of reliably, and suddenly the going rate for that product doubles.. your profit just doubled. Granted, to pull more and more oil from the ground, companies are facing more research and development costs, and starting to refine lower quality oil which costs more money to do.. but the only reason they can do that is because the price of oil is so high, they still will rake in record profits. AS for the government drilling in Alaska, which is what I assume you are talking about.. dude.. again, do some research. There is not enough oil in Alaska to make any kind of serious dent in world oil prices, or our oil here in the US. The only people who will profit from drilling in alaska are the oil companies that the president is buddies with, not us. Furthermore, even if we drill in Alaska today, it will be YEARS before that oil hits the market.

Anyway, that article is a little nutty.. I too can't belive people would take such a hit on their vehicles to save on gas. But when you crunch the numbers, it may make sense. Look at it this way.. If you get 5 more MPG.. Say you have a 30 gallon tank (like my 150).. that's 150 more miles per tank. At an average of 17 MPG, thats about 8 gallons of gas you are saving. At 3.50 a gallon, thats about $30 per fillup that you save. Hell yeah, that's significant.. but your already stuck with that vehicle. so how many times do you fill up in a year? Once a week, once every 2 weeks?? So your saving between $60 and $120 per month.. $720 to $1440 a year savings on gas. So its going to take you atleast 1-2 years if not more to break even on a multi thousand dollar loss from a trade in. If you get 10 MPG more, the numbers double.. If gas continues going up.. you get the idea, the cost savings could be significant. I cannot believe that one guy though who said he couldn't afford gas on his 32k vehicle, so is letting it sit as he makes payments.. Man, he didn't think before buying that. If money is that tight, he really overspent, nothing to do with gas, but his own poor financial choice. I think it comes down to it really sucks for the people who depend on these vehicles for work, or like the other guy, you have a bunch of kids, you don't have a choice. But all those soccer moms have to get a clue, and guys going out and buying navigators for the hell of it, then complaining about gas. The trucking industry is going to be in big trouble.. food inflation is only going to get worse.. what about heating costs?? Its scary when you put it all together.. but yeah, if we could just freakin' drill in Alaska, everything would be great man!!

 

You really need to get beyond the hype. The profits are still about 8-9 % that is the historical average of big companies. Your getting all emotional about the dollar amount. never mind the percentage of profits are the same, and that share holders.. like you and me if we own 401k or stock options.. we benifit. Quit letting your female over reaction to emotions rule your sensibility.

 

Use yours...and blame the speculators and commodities traders that are speculating on crude that has not even come out of the ground yet.

It causes a false lack of supply.

While that bubble will burst sooner than later, it indeed will not crash like the housing market.

People NEED petroleum and everything that comes from it.

People were stupid and did not necessarily need $250,000 houses in ghettos.

 

Whatever guys... I work in the stock market, I know who's making what, I hear about it and research it all day.. But you know whats up. I respect your opinion, but i'll stick to mine.
Unfortunately, regardless of anyone's opinion, oil price is soaring, and we are all stuck with high gas prices. I think it puts a dent in anyone's lifestyle.

-Todd.

 

Todd - It's the Government , I was surprised myself to learn this. Surprised as hell! I was listening to a talk show the other day that follows this. We have our own resources. We really need to use them. Right now Michigan's feeling the crunch the worst - This is just the beginning; It's going to spread and get allot worse before it gets better. You work the market ? Your going hit with a wicked hook in the future - prepare yourself - I'm out for now.