GM offers $4,000 in incentives Report: GM ups incentives to $4,000 on some slow-moving models "The rebates, which started Tuesday and run to May 21, are a combination of existing offers and dealer and cash inducements for current GM owners for models such as the Chevrolet Tahoe sport utility vehicle and GMC Sierra large pickup, spokesman John McDonald said." Sigh... I guess they gotta move them w/the high gas prices.
Official Chevrolet Site | 2008 Cars, SUV's, and Trucks | Chevy lists the Tahoe at 14 city/20 highway so I averaged at 16MPG. 12,000 miles at 16 MPG requires 750 gallons costing $3.50 each resulting in an annual fuel cost of $2,625. So you'll end up paying that incentive back within two years.
Most people will never factor in the bigger picture. The GM loyalist may even say that gas will probably go back down 50 % in the next year to under $2.
I might be convinced to take it off their hands if they paid me $4K, but then I have to resell it very fast. :bump2:
Anybody in line for a new car, watch for a break in the oil price bubble, which may happen soon. I saw a couple of oil analysts on the Lehrer report tonite (one, an oil company lobbyist), who admitted the current futures price is maybe 50% too high due to speculation, and could come down to $90-95 soon--where it should be--they said. That will make a lot of those new car incentives look good. You figure this has to happen, since the car companies can't survive with $140 oil.
It ain't just GM throwing money on the hood.:car: Toyota Sequoia $6,000 $4,000 customer cash, which cannot be combined with promotional financing offer of 0% for up to 60 months. Good through June 30. Current Toyota owners are eligible for an extra $2,000 in loyalty cash. All offers good through June 30. Car-Makers-Lavish-Incentives-on-SUV-and-Truck-Buyers: Personal Finance News from Yahoo! Finance
IMO typical short term thinking. Oil will be $140/bbl someday so sooner or later an attitude adjustment will occur. The later it happens the worse it will be. If the current price is due to a speculative bubble then some will take a loss. When that happens the speculators' identity will surprise many.
hehehe... well, Tony, im sure when you wrote that post you had not intended to use a "bargain" gas price....my oh my what difference two months makes...
So, you're saying that the price of oil has to come down because car companies can't survive the high prices? That rather assumes that the car companies can affect the price of oil. But the other possibility is that the car companies who refuse to change their lineup will go bankrupt. And companies that change, as well as new companies, like maybe Tesla and even Zap, will move into the mainstream.
It's already dropping. As soon as we tap into other areas of Alaska and the Gulf coast it will drop even further.
GM like Ford will have huge dealer discounts available on top of the factory $4K rebate. It was not unusual to see $10K-$12K off MSRP advertised in the newspaper on some of the more expensive models even several years ago. I don't see how this is anything new. However, Toyota putting money on the hood is. They have so many trucks and suvs on one Toyota lot north of where I live that they overflow out into the grass fields next to the dealer by the hundreds. Of course, no Prius or Yaris on the lot at all. There's a nice big hole on the lot where they would be.
Time to wake up & smell the coffee my friend. Just because the line on the graph drops a couple per cent now & then, does not mean we're headed for $2.50 gas. The line on the graph never continues perfectly upward. As for the arctic & the gulf, it is not your silver bullet. First, it'll take years just to bring any of it on line. In the mean time, many of our biggest fields are being spent. And as the years drag on, more & more of the old fields are being spent. So guess what you have. You have the gulf & the arctic slowing down the death spiral ... not stopping it. You have the oilies convincing you there is no urgency ... no need to find an alternative untill they've made every last trillion. You have india & china out bidding us for the contracts that the oilies will sell to the highest bidder. Gas will drop even further. right.
