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Old 01-28-2016, 08:14 PM   #1 (permalink)
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Hi mpg car market value?

Now that they are just about giving gas away again, does it depress the value of cars like Civic VXes or Metros? When gas went through the roof, the value of these fuel misers had a bump. Has that bump collapsed? Or will it take an extended stretch of cheap gas for the prices to fade? I would think right about now might be a good time to pounce for those considering a hi mpg car purchase as I doubt cheap gas will go on for long. It is probably also a good time to unload that Escalade you might have in the driveway.

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Old 01-28-2016, 08:33 PM   #2 (permalink)
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Many people don't think ahead when it comes to fuel economy, if at all. It is definitely a buyer's market for high MPG cars.

Gas is as low as $1.54 near me. That would be about 12 cents a mile for my truck, while my Prius is only 3 cents a mile. That's a savings of about $1000 a year driving 11k miles a year, without including the fact that maintenance/tires cost more for the truck. You have to remember that most people are terrible with money/don't care that they could be saving $1k a year by driving a car vs a truck even at these low prices.
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Old 01-28-2016, 08:53 PM   #3 (permalink)
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Quote:
Originally Posted by vskid3 View Post
Many people don't think ahead when it comes to fuel economy, if at all. It is definitely a buyer's market for high MPG cars.

Gas is as low as $1.54 near me. That would be about 12 cents a mile for my truck, while my Prius is only 3 cents a mile. That's a savings of about $1000 a year driving 11k miles a year, without including the fact that maintenance/tires cost more for the truck. You have to remember that most people are terrible with money/don't care that they could be saving $1k a year by driving a car vs a truck even at these low prices.
That is about the most extreme example you could use. If you compared an average new pickup to the average be car the savings would only be less then $500 for 11,000 miles. $500/yr isn't going to move somebody who can afford a new car in the first place. What might move them is my brother just spent $45,000 on a new F150. That is 4 new Mirage's or 2 Prius'. Then again another guy I know just spent almost that much on one of those new VW Golf R's. In both his purchase or my brother's $1.85/gal or $4/gal wouldn't have made a difference in their choices.

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Old 01-28-2016, 09:06 PM   #4 (permalink)
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Craig's list is full of gas hogs, at least around here. 57 mpg tonight going to dinner and back with the wife. She filled her Sorento @ $1.449 @ gallon. I'm still on my latest stockpile from the 9th of January. About $.0281 per mile here.

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Old 01-28-2016, 09:14 PM   #5 (permalink)
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Quote:
Originally Posted by pete c View Post
I doubt cheap gas will go on for long.
Low oil prices are here to stay for the next few years, and they're still heading down. There's also a much bigger bubble than the one that caused the GFC about to burst, China is weak and Europe is going to hell.
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Old 01-29-2016, 12:00 PM   #6 (permalink)
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The market's got nothing to do with gas and everything to do with how many people want the car. Most people (okay, almost all) only want small cars when gas is high.
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Old 01-29-2016, 12:04 PM   #7 (permalink)
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I'm going to agree. Low gas means cheaper small cars. I keep an eye on cars to fix and flip, and I always have my eye out for the right model or next car I'd like to try. Prices are definitely down.
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Old 01-29-2016, 01:10 PM   #8 (permalink)
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**insert obligatory So cal gas is still way more expensive than national average, why the hell don't we get these cheap ass gas prices, we are so envious of the rest of the country when it comes to gas prices**

BTW, Geo Metro's are still selling for $2000-$3000 around So Cal.
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Old 01-29-2016, 01:14 PM   #9 (permalink)
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Every time you want to sell something you're basically holding it up and saying "what am I bid?" These days if you're selling a small car that isn't a mint 1st gen Insight or something, you're lucky is you hear chrickets instead of laughter. Hell, I bought my Fit when gas was still climbing to $4 and they were practically giving away the previous model year (with a manual).

Chrysler doesn't think people are going to be bidding much for small cars:http://ecomodder.com/forum/showthrea...art-33427.html

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Originally Posted by sheepdog44 View Post
Transmission type Efficiency
Manual neutral engine off.100% @MPG <----- Fun Fact.
Manual 1:1 gear ratio .......98%
CVT belt ............................88%
Automatic .........................86%

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