When gas prices were close to $4 a gallon, I made the seemingly stupid decision to purchase a Jaguar XJS with a V12 engine. Despite what people may have been thinking, I knew what I was doing. The car may average only 16 mpg, but I also knew that this was the time to buy if I ever was going to get a car like that.
The fear at the time was that gas prices were going to hit $5 or $6 per gallon. Most people were afraid to buy a big-engined car knowing they'd be unable to afford the fuel bill. But that actually turned things in my favor. I was able to purchase the car at a ridiculously low price.
An article in The Columbus Dispatch made the same point this morning.
Given the boom that small, fuel-efficient vehicles have experienced on used-car lots in recent months, it could be time to go against the trend, some experts say. Or, to put it another way, if you've always wanted a big vehicle, buy it now.But before you get carried away with the incredibly low prices on a Ford Excursion, remember that gas prices are still relatively high in the states. Last time I filled up, 87 octane was going for $3.679. That's quite a drop from the $4.199 we were paying a while ago. But, you'll still need to think it through as it'll still cost $161.88 to fill-up the 44 gallon tank!
The average price of a used compact car has risen 8 percent in the past year, to $10,521, while the average price of a large pickup has dropped 12 percent, to $17,277, according to J.D. Power and Associates. The numbers are based on May-June sales compared with the same period last year.
"Deals on Thirsty Rides" by Dan Gearino