What is Digg?148 Comments
- MetroMPG, on 08/26/2008, -0/+25No joke: I had a random stranger knock on the door and ask if my 10 year old Pontiac Firefly (Canadian market Geo Metro clone) that was parked in the driveway was for sale. "Nope!"
- arielh85, on 08/26/2008, -1/+24a friend of mine has a Toyota Echo...the value of the car keeps going up over time.
- bstew22, on 08/26/2008, -0/+22I will run my civic til the wheels fall off.
- SkippyDoorknob, on 08/26/2008, -0/+19At least you're using it for something it was designed to do, rather than trips back and forth to the grocery store, school, or work.
- inactive, on 08/26/2008, -0/+17You have reached my secret palace, welcome.
- inactive, on 08/26/2008, -4/+20My bicycle is now worth more than your SUV! Ha!
- FasterGun, on 08/26/2008, -0/+140_o
You just blew my mind, man. I didnt know congress made your driving decisions for you! - pintomp3, on 08/26/2008, -0/+13that's great. no one is saying you can't get the car you need. most people just don't need that kind of towing power.
- vgtek, on 08/26/2008, -1/+13You know the US economy is fkd up when a car is actually a better investment than a house
- Stemnin, on 08/26/2008, -1/+11The sight of a bicycle spooked the SUV into a rollover.
- SVOboy, on 08/26/2008, -2/+12^^ yeah, my CRX has increased in value since I bought it back in '05
- cadmiumpaint, on 08/26/2008, -0/+10of course trucks are better for utilitarian purposes. but the era of people driving giant gas guzzling trucks and SUVs for fashion is OVER.
as a result trucks will become a smaller niche market instead of a cash cow and you won't see the the huge leaps in technology and design that you've seen in the past few years as demand falls for them.
its all about what the consumers want. - mcbass999, on 08/26/2008, -1/+11I was driving home on the freeway last night and saw 8 toyota prius in a row go by me in the car pool lane!!!
- lambo29, on 08/26/2008, -1/+10kelly blue book always overvalues vehicles.
- theragu40, on 08/26/2008, -0/+9It's awesome that they hold value so well, but even now, many bigger hybrids still don't make economic sense. They get better gas mileage, but the up front cost of buying one ends up outweighing the cost-benefits of the money saved at the pump. Thankfully this is no longer the case with many smaller models, but in order for hybrids to truly become mainstream, they all need to provide an economic benefit.
http://wot.motortrend.com/6245305/green/are-hybrid ... - yourmanstan, on 08/26/2008, -0/+8my guess is that 90% of people with f-350 almost never use it for pulling a 10k pound trailer. for the depreciation, gas cost, pollution, etc. it would make more sense to get an efficient vehicle and rent a big truck on those few times you actually need that much power.
- serif69, on 08/26/2008, -0/+8My 07 Civic Si is holding its value just because it's a Civic. Its depreciation was less than 10% by driving it off the lot, and hasn't dropped since. And though it does get 30+MPG highway, I would not consider it a terribly fuel efficient car.
- SkippyDoorknob, on 08/26/2008, -0/+8You could get an H2 and then just tow around an H3 for fun (with the H3 idling in neutral the whole time).
- inactive, on 08/26/2008, -2/+10So?
- gemlarin, on 08/26/2008, -0/+8What are you talking about? A standard equipped Echo purchased in 2004 with 30,000 miles in excellent condition is currently worth $9,140. They stopped making them in 2005. The average price for them in 2004 was ~$12000. That is a loss of about $3,000. Granted it is a slower decrease in value (read: held it's value longer) than say an Expedition, but it is certainly a loss of value, not a gain. Cars are not an investment, they do not gain in value unless they are a classic because of the collector associated value to them.
Have your friend drive into a dealer and see what they off him as trade in on his Echo. I guarantee you they don't off him a anything over $7,500. - Dundasbro, on 08/26/2008, -0/+7^^ reply
- zacharytelschow, on 08/26/2008, -3/+10Small car values are highly overinflated right now, just as large sized vehicle values are greatly deflated. Both are out of whack and will be corrected. I'd say this is the largest "bubble" we have going right now, with oil down to ~$115 and home values being returned to reality.
- gemlarin, on 08/26/2008, -2/+9Traded my truck for a corolla. Still love pulling up to the pump and filling up for $40 while the guy next to me in the Navigator is nearing the halfway mark at $45. Even better is knowing that I will be cruising past him 200 miles down the road while he is filling up again. 30 miles per gallon FTW. Shame that he could not sell off his Lincoln for even half what he still owes with the devaluation of SUV's. Upside down 2 years into a 5 year vehicle loan has to hurt.
Yes I can afford payments on a Navigator, No I cant justify $100 to fill my tank and being upside down on a loan. Status symbols are not that important to me. - BoneheadFarker, on 08/26/2008, -0/+70% taxes...100% fees, with no government regulations preventing extortion rates. Ask yourself why the US health care industry is so ***** up. It's because it run as a for-profit business, so they will look for absolutely any reason to deny you service while keeping your money. Now imagine if the police, fire departments, and road maintenance worked that way. Actually, the fire department did work that way once. You either paid for a symbol on your house, or the fire department would stand by and let it burn. It became a government-regulated service for that reason, because some things should be available to anyone.
Go on about how these things are evil and communist. And remind the fire department of that as your house is burning... - BoneheadFarker, on 08/26/2008, -0/+7But they're great on gas...
- philipl411, on 08/26/2008, -5/+12I own an f-350, its does soemthing no hybrid can do. It pulls an 10500 lbs 5th wheel trailer. Keeping my f-350 for several more years
- cadmiumpaint, on 08/26/2008, -1/+8you really hate America. please leave.
- inactive, on 08/26/2008, -0/+6is that the one with the speedometer in the middle?
drove it once, surprisingly quick car - bstew22, on 08/26/2008, -0/+6^^ reply.
- LeRenard, on 08/26/2008, -0/+5I wanted to buy an Echo, the best price I found on one with 50k miles or less was about 8500. I ended up buying a Yaris brand new for about 11. It was only later I found out that the Yaris is essentially the newer Echo.
- mr0nine2five, on 08/26/2008, -1/+6Just got a '97 Geo Metro a few weeks ago. Getting better with the stick shift takes some time, but in the long run its worth when I'm getting close to 40 miles a gallon. I never thought I'd drive one, but for a $1000 from a private owner...
- 48snickers, on 08/26/2008, -1/+6For the first time since I've ever owned a car, KBB lists my car as being worth more than I paid for it NEW. At 10,000 miles, it's actually appreciated by 20%. Honda Fit. Non-hybrid. Just small and fuel efficient. I may just sell it for the extra cash, and bike to work.
- inactive, on 08/26/2008, -1/+6Yep, now is the time to buy an SUV or a Sports Car if thats something you want and can afford. Everything is on sale.
- pintomp3, on 08/26/2008, -0/+5we go to war in order maintain control of a region rich in oilreserves. we overthrow governments that want to nationalize their oil instead of give no-bid contracts to our oil companies.
- adam71o, on 08/26/2008, -0/+5yea, you can't let go of a ride that cherry
- mywhitenoise, on 08/26/2008, -2/+7Ha! KBB says I can sell my Prius for more than what I paid for! I paid $17,500
http://www.kbb.com/KBB/UsedCars/PricingReport.aspx ... - CrackyJSquirrel, on 08/26/2008, -0/+5*****.. You obviously haven't owned a civic... I had a 98 that was over 200K miles, ran like a dream until some lady ran me off the road into a ditch..
- goerg, on 08/26/2008, -0/+4well, thats the best one can do at the moment
- rodon, on 08/26/2008, -0/+4I could still get about $4k for my '97 Civic DX if I tried to sell it. I am in the market for a new car with equal gas mileage. The thing is, at this age, expensive stuff needs replacing. I might as well be putting the hundreds of dollars that I spend on maintaining my old car into a new car.
- iseth, on 08/26/2008, -0/+4I'm amused by the title and opening sentence. A bit contradictory - "Big Surprise", then "It shouldn't be surprising..."
That said, I'm definitely not surprised by this. Hopefully I'll get a good price if/when I trade in my current small car. - DragoonWraith, on 08/26/2008, -0/+4It's an illustration of the sad state of the auto industry that we take 30 MPG as good.
- Feyr, on 08/26/2008, -2/+6only if you define "quick" as "accelerating to 60mph in slightly over 30 seconds"
- LeRenard, on 08/26/2008, -0/+4I sold my 03 VW Beetle for a tidy profit over my purchase price after owning it for years. I hated the car, but you can't beat that sort of resale value! (On the other hand, my Wrangler is now worth only a small portion of what I owe, so it evens out.)
- llewner, on 08/26/2008, -0/+4This is ridiculous. It's all supply and demand. Compare the production numbers between the two. There were WAY more Ford F150's produced and sold in the US than tiny quantity of Toyota Prius's. Now, compound the fact that people don't want fuel inefficient vehicles and it's not surprising that the resale value is so high. But what that also means is that those of us that need a new car, and don't have much money are going to be purchasing the gas hog and destroying the environment. Wait until the market becomes saturated with other, similar vehicles and the 2004 Prius will be just another used car.
- EatSleepJeep, on 08/26/2008, -1/+5It came with a rear window defroster to keep your hands warm while pushing.
- Anand999, on 08/26/2008, -0/+4Not sure why he is using 2008 prices vs. 2004 prices to calculate depreciation. You can find the original MSRP for older cars at sites like cars.com. Also, why use KBB's suggest retail price? This is the average price a dealer will get for the car. Unless you're a dealer, you'll be more interested in the trade in or private party values with are significantly less than the retail value.
In truth, the numbers for the Civic at least are even more rosy. The cheapest 2004 Civic - the value edition coupe, had an MSRP in 2004 of 13,410. That car now, with 60k miles, has a 10,185 private party value in my area according to KBB, so that's almost 76% of it's (versus 74% in his calculation). - munkyxtc, on 08/26/2008, -1/+5Sorry about your penis.
- totorototoro, on 08/26/2008, -0/+4What is the premium for a used Prius/Civic Hybrid with a Commute Lane/Bridge Pass sticker? That is a huge time saver.
- wakkow, on 08/26/2008, -0/+4Take into account the TCO, and it's quite cost effective.
- LexMortis, on 08/26/2008, -0/+4It's never time to buy an SUV.
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