Comments on: Not Buying a Car in the Current Automaker Climate

By: Joe

Joe — Sun, 30 Nov 2008 00:00:40 +0000

Sounds like an OPEC move – but all the more reason why our country (and other countries) need to invest in and purchase fuel efficient or non-petroleum reliant vehicles.

By: Jacob Spades

Jacob Spades — Sat, 29 Nov 2008 22:36:51 +0000

I read an article on CNN earlier today explaining that OPEC was going to meet after several top officials of that organization and outside investors were worried about the rapidly falling price of crude oil barrels. The current price is around $54, but the OPEC nations want to set the price at a fixed rate of $75, a 40% increase over the current costs. Their logic is that no one will invest in crude oil or any other related products with the current trend. Because they can’t dictate the market for oil without collusion, they’ll likely control the supply of oil, which goes along with recent outcries for dimished output.

By: Joe

Joe — Sat, 29 Nov 2008 20:28:11 +0000

Well, that’s a good point, Spades. I know places near Atlantic City, NJ that were trying to give away SUVs with no success. But still, I think that investing one’s scarce dollars in a hybrid or smaller, more fuel efficient automobile is still a good idea – low SUV prices be damned.

Gas prices have dropped up here in New Jersey, too, though I won’t be satisfied until we’re paying between $0.75 and $1.25 for gas. That’s the only acceptable range for me!

By: Jacob Spades

Jacob Spades — Thu, 27 Nov 2008 21:33:26 +0000

You know, the real bargain on cars was about 2-3 months ago when the gas crisis was still headlining the news. People were looking to dump their SUV’s for literally pennies on the dollar. I know that in Georgia and Tennessee even the dealerships, used and new, were issuing rebates and savings hand over fist, practically offering the SUV’s for wholesale value, possibly even taking a loss on them.

There was a news report filed in Atlanta during August cautioning people against selling their SUV’s for so little, predicting that they’d suffer an irreversible loss and forecasting that gas would begin to fall again very soon. Remember, at that time the though of gas falling in price was the butt of every dinner party joke, one which everybody could laugh at. Now, gas in Georgia is about $1.52/gal average. It looks like the last laugh goes to those who kept their SUV’s and those who bought them for cheap.