Trainman Posted August 23, 2006 Share Posted August 23, 2006 From: article link Owners, dealers singing the SUV blues Resale values take a dive as market dries up "Pricing a used sport utility vehicle is a risky business these days. Tom Kozup, a Gibraltar businessman who buys and resells used vehicles, watched a rival bidder pay $13,200 on Aug. 11 for a top-of-the-line 2003 Ford Expedition at an auction in Redford. While that was $3,000 less than the official resale value, it was not a bargain. When the new owner took the Expedition to a local dealer auction six days later, its value had fallen further. "The highest bid came in at $12,200," Kozup said. "He couldn't sell it." High gas prices and changing tastes have turned consumers off SUVs, the once-hot emblems of rugged American individualism." and "Although Japanese brand models tend to retain higher residual values than domestic makes, their SUVs are faring poorly, too. According to Edmunds.com, trade-in values for Toyota Motor Corp.'s Sequoia SUVs have dropped 22 percent over the past two years -- one of the biggest declines in that category." Based on the Buy and Sell, I could get a similar Pathfinder to mine (as compared to when I bought mine, ie 3 years old, 60,000 km) for about $3-4,000 less than what I paid 1 1/2 years ago. Good thing these are not retirement investments Link to comment Share on other sites More sharing options...
nige Posted August 23, 2006 Share Posted August 23, 2006 hey, you haven't lost any money on her unless you sell it for less than you paid for her Link to comment Share on other sites More sharing options...
GrimGreg Posted August 23, 2006 Share Posted August 23, 2006 I think if nothing else it is a reality check. People who had a SUV or other large vehicle for some sort of status BS are starting to realize vanity ain't everything. The ones with money to burn don't care ever, the ones who bought one out of neccisty (large family) are trying to deal, and the ones who didn't need/ can't afford one to begin with are getting rid of the thing and getting what they should have. Maybe once the smoke clears they will build usefull ones again.... (yeah right) Link to comment Share on other sites More sharing options...
zonianbrat Posted August 23, 2006 Share Posted August 23, 2006 Well to be honest since I have bought my pathfinder I have fallen in love with it and it's capabillities so much that even with it's horrible gas mileage I will never sell it. Hell I should soon be in the market for a WD21!!! Link to comment Share on other sites More sharing options...
SaKaNa Posted August 23, 2006 Share Posted August 23, 2006 Having converted from a sedan to an SUV, I now see that theres no way I can ever drive another car... I NEED some form of truck-based vehicle, no matter how much gas costs. Link to comment Share on other sites More sharing options...
Casey.T Posted August 23, 2006 Share Posted August 23, 2006 I have been watching this 03 SE, from friday $22k to this morning $19,999 the price has dropped on the dealer lot.... @ 10k im buying it Link to comment Share on other sites More sharing options...
Trainman Posted August 23, 2006 Author Share Posted August 23, 2006 I have been watching this 03 SE, from friday $22k to this morning $19,999 the price has dropped on the dealer lot.... @ 10k im buying it Monday morning it will be yours Link to comment Share on other sites More sharing options...
GreenEnvy94Pathy Posted August 24, 2006 Share Posted August 24, 2006 It is crazy right now. I have a friend who runs a auto brokerage, and he gave me his password to get to the Idaho Auto Auction. I can look up any vehicle sold at the action for Boise, Salt Lake City, Sacramento, Reno, Eugene, Portland, and Spokane. What is really crazy is what the large SUV's are going for at the auction. For example I saw a 2004 Chevy Tahoe Z-71 4x4 loaded with rear buckets, DVD, sunroof, LOADED, with 30k miles..... SOLD for $15,300. Holy Sh@t!! That was a $45,000 vehicle just 2 years ago. And its not just GM, its everyone, here I will go check right now... 2005 Ford Exploder... oops Explorer Eddie Bauer 4x4 V-8 24k miles... $15,500. 2005 Ford F-250 SD Diesel 4x4, 20k miles 4 door, $26,900. that too is about a $50,000 rig. So life could be a lot worse, I could have just bought a diesel truck, put a 6" lift, huge wheels and tires, the thing wont wheel worth a damn, get HORRIBLE mileage, and now have my vehicle worth 1/2 of what I bought it for 1 yr ago. WOW?? Link to comment Share on other sites More sharing options...
rmd0311 Posted August 24, 2006 Share Posted August 24, 2006 Well., glad I sold mines when I did. Link to comment Share on other sites More sharing options...
the rig Posted August 24, 2006 Share Posted August 24, 2006 I look at it this way; a vehicle is worth something to its owner whether that be a lot or not. Some folks put more worth in a honda civic than they would a Hummer H2 simply because of what they use their vehicle for. I bought my rig for $800 and personnally wouldn't sell it unless someone offered me thousands! I use it for what it is intended for and more! I love it. However, I love my Monte Carlo SS. So it's all about value to owner. If you are buying a vehicle as an investment. Go old or go luxury. No other way around it. just my .02 Link to comment Share on other sites More sharing options...
Precise1 Posted August 24, 2006 Share Posted August 24, 2006 2004 Chevy Tahoe Z-71 4x4 loaded with rear buckets, DVD, sunroof, LOADED, with 30k miles..... SOLD for $15,300. Holy Sh@t!! That was a $45,000 vehicle just 2 years ago. And its not just GM, its everyone, here I will go check right now...2005 Ford Exploder... oops Explorer Eddie Bauer 4x4 V-8 24k miles... $15,500. 2005 Ford F-250 SD Diesel 4x4, 20k miles 4 door, $26,900. that too is about a $50,000 rig. Note that they are all the US trucks dropping in price like rocks... Yes, I know others are, but nothing like that. Check the thread in the off topic about the nissan/gm merger towards the end for the quote about how the high profit gas guzlers aren't selling. The US may only have one US motor company soon. Oh, wait, Chrysler is owned by DB... :X B Link to comment Share on other sites More sharing options...
Trainman Posted August 24, 2006 Author Share Posted August 24, 2006 The US may only have one US motor company soon. B And it may be called Nissord or NissaM Link to comment Share on other sites More sharing options...
GrimGreg Posted August 24, 2006 Share Posted August 24, 2006 Nissord Sounds like some kinda disease. Link to comment Share on other sites More sharing options...
Guest chechatonga Posted August 25, 2006 Share Posted August 25, 2006 Took a long drive the other week 8 hours down - 8 hours back Every vehicle I saw on the interstate was a SUV - I was surprised when I noted almost everyone was driving a SUV They are here to stay. Link to comment Share on other sites More sharing options...
SaKaNa Posted August 25, 2006 Share Posted August 25, 2006 I think that theres more SUVs on US roads than cars at this point... Its cause theyre just so nice... I cant ever use a car again, its too close to the ground and too... road-only for me. Link to comment Share on other sites More sharing options...
Trainman Posted August 25, 2006 Author Share Posted August 25, 2006 I think that theres more SUVs on US roads than cars at this point... Its cause theyre just so nice... I cant ever use a car again, its too close to the ground and too... road-only for me. In Canada, we like our mini-vans better than SUV's. Of course our gas prices are higher too Link to comment Share on other sites More sharing options...
GrimGreg Posted August 25, 2006 Share Posted August 25, 2006 I cant ever use a car again, its ... too... road-only for me. So are most of the SUVs out there -thnkboutit- Link to comment Share on other sites More sharing options...
Casey.T Posted August 25, 2006 Share Posted August 25, 2006 Monday morning it will be yours That dealership was putting BIG SALE signs this morning on the way in.... Ill swing by this evening and drive it.... Link to comment Share on other sites More sharing options...
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