- Apr 30, 2008
Sorry, your SUV is now worthless
Thinking of trading your gas-guzzling SUV in for something smaller, a bit more fuel efficient? You are not alone. The rocketing cost of gasoline, and diesel fuel, is having a ripple effect on the SUV market. With consumers trading in their behemoths by the thousands in exchange for more frugal transportation, dealers are stuck with a surplus of unwanted sport-utes sitting on their lots with values dissolving.
Diesel-burning trucks aren't immune either. As diesel fuel costs hovering about fifty cents per-gallon above gasoline, some of the bigger oil-burning SUVs and trucks are losing measurable resale by the day. Overall, according to CNW Marketing Research, used SUV sales were down 14% in March alone. With any surplus, come big discounts. It may be a ghastly time to fill a 30-gallon tank on an SUV, but it is the perfect time to negotiate with a dealer for that seven-passenger family truckster you've been fancying. No need to hurry -- there will be an even better selection tomorrow.
Thanks to Jim for the tip!
[Source: U.S. News and World Report]