Gas prices making anyone reconsider?

[Baja_Bob]

I'm actually glad we bought 2 new vehicles last year early before this chip and markup thing took off. Got both at or below sticker and fully loaded not missing any chips. This whole chip issue isn't easing anytime soon, and it would be hard to stomach paying 5-10K over sticker for a vehicle that was missing items I wanted or will be installed "Later". It will take only 1-2 more international "Issues" before supply chains are TOTALLY hamstrung and production of some essential items just comes to a halt....

I also bought 3 vehicles last year and had no issues luckily, 2 were bought off the lot with rebates from Ford and Jeep and no ADM, I bought a Yukon XL without anything missing, if only it had the pano sunroof, at MSRP and with a GM employee discount. If there was an additional $10K added to any vehicle I'd would have to reconsider.

 

[xycrazy]

Well, at this point I indeed reconsider my purchase. Fact is that with the interest rate increase by the FED a recession is becoming more and more likely. The housing market already slowed down significantly. I see a lot of home price reductions in several areas like WA, FL, IL, CA, etc. High interest rates, high inflation, high gas prices... that has never done something good to the market. In fact, in the last 75 years whenever inflation was over 4% and unemployment below 5% the US economy ran into a recession within 24 months.

Does this happen again? Who knows for sure? However, we see popping up bad news like this that make me personally reconsidering a purchase right now.

CarMax's Awful Earnings Send a Warning to All Car Stocks

CarMax earns 98 cents a share in its fiscal fourth quarter. Wall Street was looking for much more.

www.barrons.com

 

[R32driver]

I noticed gas prices took a bit of a jump the other day. Regular up to $4.85 and diesel up to $5.55 at the greedy shell station. Don’t see many vehicles getting fuel there these days

 

[PaulGA]

I noticed gas prices took a bit of a jump the other day. Regular up to $4.85 and diesel up to $5.55 at the greedy shell station. Don’t see many vehicles getting fuel there these days

And here in Northern Georgia, prices have been going down. I just paid $4.09 for Super today, Regular hovering between $3.50 and $3.60. For some odd reason, Diesel jumped between $4.95 and $5.05.

 

[Polo08816]

Well, at this point I indeed reconsider my purchase. Fact is that with the interest rate increase by the FED a recession is becoming more and more likely. The housing market already slowed down significantly. I see a lot of home price reductions in several areas like WA, FL, IL, CA, etc. High interest rates, high inflation, high gas prices... that has never done something good to the market. In fact, in the last 75 years whenever inflation was over 4% and unemployment below 5% the US economy ran into a recession within 24 months.

Does this happen again? Who knows for sure? However, we see popping up bad news like this that make me personally reconsidering a purchase right now.

CarMax's Awful Earnings Send a Warning to All Car Stocks

CarMax earns 98 cents a share in its fiscal fourth quarter. Wall Street was looking for much more.

www.barrons.com

Wait, you don't think the FED can work some super sauce and give us a "soft landing"? (sarcasm).

 

[Matt Wilson II]

I'll leave the small cars for teenage girls and red coats. Momento mori.

 

[ktpinnacle]

My primary reason for not purchasing in the near future will be the unreasonable demands of the dealerships. I've never purchased at or above MSRP and I won't start now. Fortunately, I can afford to wait until the market is re-established post-covid.

 

[Stbentoak]

The vehicle market today has nothing more to do with Covid... It is purely supply and demand, Supply chain, and Chip driven.
Using Covid as a business excuse for any business is getting a little long in the tooth now.....

 

[Baja_Bob]

The vehicle market today has nothing more to do with Covid... It is purely supply and demand, Supply chain, and Chip driven.
Using Covid as a business excuse for any business is getting a little long in the tooth now.....

But I thought Covid caused the microchip shortage because everyone stayed home and bought all the x-boxes and laptops online, that's what the news told me.

 

[R32driver]

I was reading an interesting article the other day about "cost savings" of buying a ford lightning vs a 3.5 ecoboost f150. They used an average of 15k miles driven per year and fuel prices in the mid $4 range vs the cost to charge the ev at home. According to their findings the increased purchase price of the lightning would mean your break even timeframe to be saving $$ over driving the ecoboost would take 9 years of ownership...