Civic Tops F-Series In May, Impacts Buyers & Sellers
For the first time since 1991, the Ford F-Series is not the nation’s best selling vehicle. Last month, that honor went to the Honda Civic. With gas prices at an all time high, it is not a surprise. The entire truck and SUV segments have seen a sales crash, not unlike what we have seen in the housing market...
Sales are down as much as 35% and used vehicle values have seen similar drops. Automotive News is reporting that one consumer in Texas tried to trade in his $53,000 2008 Ford F-250 and was only offered $35,000 for it after three months of ownership. Some dealerships are even refusing to take pickup trucks and SUV’s as trade-ins.
This is bad news if you are looking to get out of these gas-hungry heavyweights. However, if you happen to be in the market for one, you are in luck. Whether it is a new or used, prices and discounts have never been better. So if you need a work truck, need to haul a boat or trailer or just enjoy the notion of $100+ fill-ups every week, now is a great time to need these types of vehicles.
On the other side of the coin, fuel efficient vehicles like the best selling Honda Civic and the iconic hybrid Toyota Prius are in very short supply in some markets. Discounts are few and far between and asking prices above MSRP are not at all uncommon.
This brings most of us back to the reality of the situation. As Phil reminded us last week, before you run off and get rid of your perceived money-wasting gas-guzzler, do the math. Make sure you make the rational decision and not the emotional one.
- Posted by
- Lee Scott June 5, 2008, 6:08 AM
- Permalink
- Categories:
- Car Buying, Fuel Economy, Selling Cars, Used Cars
Im a car negotiator, and I must say the trend is going to small cars. In the last year I've had many of my customers call me and ask me to find them something smaller and better on gas. I agree with phil, make sure you make the rational decision and not the emotional one.
www.yourcarneg.com
Last fall, the Honda dealers were simply unwilling to negotiate with me on the price for Civics. I felt like I was talking to Saturn guys. I bet it's even worse now. Good for them. Very nice cars. Perhaps I should have paid a little more and would have seen the return on the back end resale value. But still I'm very happy with my new Mazda3. Only gets 3 mpg less, which is more than offset by cheaper insurance and bargain pricing ($25 below invoice).