I also bought 3 vehicles last year and had no issues luckily, 2 were bought off the lot with rebates from Ford and Jeep and no ADM, I bought a Yukon XL without anything missing, if only it had the pano sunroof, at MSRP and with a GM employee discount. If there was an additional $10K added to any vehicle I'd would have to reconsider.
Gas prices making anyone reconsider?
- Thread starter Ketzer
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Well, at this point I indeed reconsider my purchase. Fact is that with the interest rate increase by the FED a recession is becoming more and more likely. The housing market already slowed down significantly. I see a lot of home price reductions in several areas like WA, FL, IL, CA, etc. High interest rates, high inflation, high gas prices... that has never done something good to the market. In fact, in the last 75 years whenever inflation was over 4% and unemployment below 5% the US economy ran into a recession within 24 months.
Does this happen again? Who knows for sure? However, we see popping up bad news like this that make me personally reconsidering a purchase right now.
www.barrons.com
Does this happen again? Who knows for sure? However, we see popping up bad news like this that make me personally reconsidering a purchase right now.
CarMax's Awful Earnings Send a Warning to All Car Stocks
CarMax earns 98 cents a share in its fiscal fourth quarter. Wall Street was looking for much more.
www.barrons.com
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R32driver
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I noticed gas prices took a bit of a jump the other day. Regular up to $4.85 and diesel up to $5.55 at the greedy shell station. Don’t see many vehicles getting fuel there these days
PaulGA
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And here in Northern Georgia, prices have been going down. I just paid $4.09 for Super today, Regular hovering between $3.50 and $3.60. For some odd reason, Diesel jumped between $4.95 and $5.05.
Wait, you don't think the FED can work some super sauce and give us a "soft landing"? (sarcasm).Well, at this point I indeed reconsider my purchase. Fact is that with the interest rate increase by the FED a recession is becoming more and more likely. The housing market already slowed down significantly. I see a lot of home price reductions in several areas like WA, FL, IL, CA, etc. High interest rates, high inflation, high gas prices... that has never done something good to the market. In fact, in the last 75 years whenever inflation was over 4% and unemployment below 5% the US economy ran into a recession within 24 months.
Does this happen again? Who knows for sure? However, we see popping up bad news like this that make me personally reconsidering a purchase right now.
CarMax's Awful Earnings Send a Warning to All Car Stocks
CarMax earns 98 cents a share in its fiscal fourth quarter. Wall Street was looking for much more.
Matt Wilson II
Member
I'll leave the small cars for teenage girls and red coats. Momento mori.
ktpinnacle
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My primary reason for not purchasing in the near future will be the unreasonable demands of the dealerships. I've never purchased at or above MSRP and I won't start now. Fortunately, I can afford to wait until the market is re-established post-covid.
Stbentoak
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The vehicle market today has nothing more to do with Covid... It is purely supply and demand, Supply chain, and Chip driven.
Using Covid as a business excuse for any business is getting a little long in the tooth now.....
Using Covid as a business excuse for any business is getting a little long in the tooth now.....
But I thought Covid caused the microchip shortage because everyone stayed home and bought all the x-boxes and laptops online, that's what the news told me.
R32driver
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I was reading an interesting article the other day about "cost savings" of buying a ford lightning vs a 3.5 ecoboost f150. They used an average of 15k miles driven per year and fuel prices in the mid $4 range vs the cost to charge the ev at home. According to their findings the increased purchase price of the lightning would mean your break even timeframe to be saving $$ over driving the ecoboost would take 9 years of ownership...
ktpinnacle
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Sure it does. You don't restart the world's economies and have them running smoothly overnight. The supply chains are still not as they were. China, the source of many chips, is still shutting down in areas due to the return of new variants. But pricing surely is influenced by the desire for dealerships to grab as much cash as they can for the lower volume of vehicles being produced.
avalonandl
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No not considering.
Feb 3 22' Premium 3.99
Aprl 30 Premium 4.79
Naples FL
Feb 3 22' Premium 3.99
Aprl 30 Premium 4.79
Naples FL
smokey_mountain
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If my math is correct once diesel gets to be >$1.50 spread with Regular, the monetary advantage is no longer obvious, we should remember a tiny amount added for DEF. What remains confusing to me why Diesel is so high, it must be artificial as it is more available, cheaper to manufacture, so it cannot be a production cost or even extra taxes. Perhaps, the profiteering is going on to take advantage of the "COVID special situation" as demand for delivered good is at all time high? Diesel is a fantastic engine and these artificial prices are driving these great GM trucks into extinction, general thinking is that electric would eclipse diesel... I tried BEV vehicles several times and really wanted to make them work. They do not at least those that are in my price range. I need 550 miles of range.
that coupled with at least one major fire at a chip factory...the one in March of last year seems to be the one that really triggered the "chip shortage" for the auto industry
Me too I don’t understand why the diesel price is so high compared to gas. Im in California and just saw the average price over $6 already for diesel. Im having second thought regarding my diesel SUV Order.
Stbentoak
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6.2 = Premium @ 4.79
3.0 = Diesel @ 4.89
Current local prices….
The message is still clear….
3.0 = Diesel @ 4.89
Current local prices….
The message is still clear….
BrokerThis
'22 Denali Dmax
National diesel average is 5.51 this week
ktpinnacle
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That's what I see in my area. The fuel costs for a 6.2 or the Duramax are essentially the same. But the mileage advantage remains significant. The 5.3 is another matter.
R32driver
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An article I read yesterday was saying those in the know are predicting diesel to be over $6/gal in most places by summer. Fuel prices always rise in the summer so this seems logical. It’s already $5.50 range lots of places I see locally.
Even with these prices if I were in the market for one of these vehicles today the price of fuel would not sway me one way or the other. As others have said if you can afford to spent $70k or more on a rig you should damn well be able to afford fuel for it
Even with these prices if I were in the market for one of these vehicles today the price of fuel would not sway me one way or the other. As others have said if you can afford to spent $70k or more on a rig you should damn well be able to afford fuel for it
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