Thursday, August 7, 2008

best time to buy that truck or SUV


i don't like big trucks or SUVs, but if i did, i'd be visiting dealer lots today.

with sales volume of all vehicles more than 20% off compared to last year and sales of large trucks and SUVs down even more, every dealership is desperate to get large trucks off of their lots.

what about high gas prices, you say?

yeah, what about them? firstly, the fuel is the cheapest part of a new car, even SUVs. depreciation is far more expensive.

secondly, gas prices are falling and are likely to continue to do so for a good long while. if oil prices were pushed up by speculation, then the 17% fall in prices since this time last month should scare the speculators out and help force prices down further. if prices were forced up by rising demand - mostly from China & India, then the recent economic contractions in those countries should also help reduce prices.

and if the war in Iraq ever ends and they start exporting oil on a large scale, gas will basically be free again.

the other big factors killing sales are low consumer sentiment and trouble financing.

so, if you're optimistic and have real cash in hand, you're golden. you can basically name your price.

just don't by a Dodge or Chrysler. i've heard rumors that they are going under. and a bankrupt brand is bad for resale value.

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