A rant to those who say it’s foolish to pay higher than book value for a fuel efficient car. I think these cars will only become more valuable as time progresses. Pretty soon any vehicle that gets under 30mpg will go the way of the 8 track, cassette tape, and carburetor and only fetch pennies on the dollar. Unfortunately, there aren’t many cars at the present time the average American consumer can buy that will retain their high value and are fuel efficient. Even going to run some quick errands in your neighborhood now in your standard automobile isn’t cost effective. Sometimes it costs you as much to go to the store as the item you are going to get.
I forsee the next shoe to drop in this poor economy is the American automobile that gets under 30mpg. Many more will be affected by this than the current housing crisis. It will probably take as long to sell your rapidly depreciating automobile as it will your tract home in the outer suburbs. Pity those who are leasing.
Thoughts on this? Do you all think SUV and large sedan (even Lexus’) values are in for a big tumble and would it be wise to sell them now?
