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post #1 of 62 (permalink) Old 03-24-2008, 03:25 PM Thread Starter
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Gas prices hitting people hard

http://money.cnn.com/2008/03/24/news...ex.htm?cnn=yes

Don't get me wrong, I don't like how hard prices are hitting my pocket. Seeing a $40 fillup really feels like someone kneed me where it counts. That being said, read the article and don't feel to sorry. I am not saying I did, I am saying everyone should.

Okay a few take away things.

1) I get gas prices are high and they hurt people, especially poor people
2) When two of the people interviewed drive a firebird (even if it is the V6) and a cherokee...seriously?

I get that money is tight, but I bet you could trade in the car or sell it and get an older used civic or accord for about what you traded your car in for or maybe spend a LITTLE bit of money to get it and you probably just cut 20-50% off your gas bill.
-Matt
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post #2 of 62 (permalink) Old 03-24-2008, 03:28 PM
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Re: Gas prices hitting people hard


Gas Prices^ ^Me



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post #3 of 62 (permalink) Old 03-24-2008, 03:29 PM
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Re: Gas prices hitting people hard

If you're living on such a tight budget where gasoline really makes or breaks you, you fail at money management.
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post #4 of 62 (permalink) Old 03-24-2008, 03:53 PM
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Re: Gas prices hitting people hard

Welcome to life, stuff costs money.

[quote author=fatabbot link=topic=106631.msg2176930#msg2176930 date=1206383361]
If you're living on such a tight budget where gasoline really makes or breaks you, you fail at money management.
[/quote]

sig worthy

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post #5 of 62 (permalink) Old 03-24-2008, 04:36 PM
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Re: Gas prices hitting people hard

[quote author=fatabbot link=topic=106631.msg2176930#msg2176930 date=1206383361]
If you're living on such a tight budget where gasoline really makes or breaks you, you fail at money management.
[/quote]

Exactly.

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post #6 of 62 (permalink) Old 03-24-2008, 04:44 PM
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Re: Gas prices hitting people hard

It is a difference for everybody for gas being up higher. But he is driving a firebird. Like matt said, sell it and get an economy car.
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post #7 of 62 (permalink) Old 03-24-2008, 04:54 PM
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Re: Gas prices hitting people hard

Gas prices are actually nowhere near the "horrible" level in terms of gas' cost as a portion of the GDP per capita.
http://seekingalpha.com/article/6775...le?source=feed



And, gasoline as a portion of after-tax income it's getting up there as well but not where it was in the 80s.

http://www.cato.org/pub_display.php?pub_id=8263



But, if this trend doesn't abate soon it really will become a problem and a primary driver of a crappy recession.


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post #8 of 62 (permalink) Old 03-24-2008, 04:58 PM
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Re: Gas prices hitting people hard

[quote author=azazel1024 link=topic=106631.msg2176921#msg2176921 date=1206383106]
http://money.cnn.com/2008/03/24/news...ex.htm?cnn=yes

Don't get me wrong, I don't like how hard prices are hitting my pocket. Seeing a $40 fillup really feels like someone kneed me where it counts. That being said, read the article and don't feel to sorry. I am not saying I did, I am saying everyone should.

Okay a few take away things.

1) I get gas prices are high and they hurt people, especially poor people
2) When two of the people interviewed drive a firebird (even if it is the V6) and a cherokee...seriously?

I get that money is tight, but I bet you could trade in the car or sell it and get an older used civic or accord for about what you traded your car in for or maybe spend a LITTLE bit of money to get it and you probably just cut 20-50% off your gas bill.
-Matt
[/quote]

That's easeir said than done. A dealership doesn't want a gas guzzling car on it's lot, because guess what, they aren't selling them either. Having a firebird and a cherokee are doing those people just as good as the dealership; no good at all. That's why Chevy desperately had to come out with Flex-Fuel for its SUV's so they could still compete. They have never done well in econo car market, so SUV's is where they have shined. When gas prices spiked they all of a sudden has a fist full of SUV's on the lot. They aren't gonna be happy taking in a gas guzzling car that isn't gonna move on the lot either, unless they offer bottom dollar trade-in value.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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post #9 of 62 (permalink) Old 03-24-2008, 05:02 PM
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Re: Gas prices hitting people hard

[quote author=weezerfan84 link=topic=106631.msg2177211#msg2177211 date=1206388686]
That's why Chevy desperately had to come out with Flex-Fuel for its SUV's so they could still compete.
[/quote]

No, they did that because they get CAFE credits for them

Flex Fuel is crap, but the Big 3 are happy to take advantage of loopholes.
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post #10 of 62 (permalink) Old 03-24-2008, 05:06 PM
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Re: Gas prices hitting people hard

FTM if you have negative equity in a gas guzzling trade, then sometimes it's better to keep it. Dealership will offer you bottom dollar trade-in value and you could be left with whatever negative equity. People who have cars that don't get good gas mileage would have to weigh that in as well. If consumer can get trade in then you have to deal with if the person's credit has improved, stayed same, or fell since purchasing prior car. There's a lot that goes into trying to get rid of a car that doesn't have good gas mileage compared to a car that does. Even more so when the economy is the way it is and car dealerships are giving away cars, but I've never seen many dealerships that want N/E. I would presume if dealer takes N/E you will get stuck most likely with a higher interest rate.

LMFAO "oh i thought i didn't need that" i bet in your head you were like "go kick your mom in the ass for me when you get home " 08mazda2.0
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