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High Gas Prices = Higher Resale Value? |
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Jun 8 2008, 05:18 PM
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Expert
   
Group: Members
Posts: 547
Joined: 14-October 07
Member No.: 36,296
Status: 
Location: canada
Drives: 2007 hyundai accent sport

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curious.
i'm kinda thinking so, myself.
we all know hyundai's historically have crappy resale value, but, imo the current generation hyundai's (including our accents) look WORLDS better than the last ones, so that right there should help... but now with gas the way it is, you think we'll see better resale values in 3-5+ years?
maybe some of the older members here will have some better input on the subject if they lived through the 70's oil crisis. did smaller econo cars, even of lesser (real or perceived) brands, hold their value better due to fuel efficiency?
we don't have record breaking mpg in our cars, but it is pretty good! heck, 16 year old geo metros are selling for more than they were NEW! our cars don't quite get that kind of fuel economy, but they're way better looking.
This post has been edited by ewing: Jun 8 2008, 05:19 PM
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Jun 8 2008, 07:12 PM
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Group: Members
Posts: 1,112
Joined: 9-September 06
Member No.: 22,154
Status: 
Location: USA
Drives: 06 accent

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It's very possible our resale will go up, at least in the short term! People are throwing down mad money for 1990's-vintage econo boxen these days! Meanwhile, SUV drivers desparate to dump their behemoths are finding themselves tens of thousands of dollars in the hole. :whistling: Check this article out: QUOTE Some of the nerdiest-looking cars in recent automotive history are making a comeback, at least in resale value, as a growing number of value-driven drivers put gas thriftiness ahead of image.
Early-1990s econoboxes such as Ford Festiva, Hyundai Excel and Geo Metro — once the punch line of jokes — have seen their used car prices climb from giveaway levels as low as $1,100 a few months ago to upward of $6,000 today, Kelley Blue Book says. The Excel really wasn't even that good on gas as far as I can remember, our cars can do a little better and are lightyears ahead of it in every imaginable way to boot... If prices for those are going up we could very well be in a good place. :) I checked my kbb values though, despite having an immaculate car I'm below $10,000 on everything but dealer retail value. Bummer, but good thing since I'm hanging on to this puppy! :grin: Downsizing into a small car like this turned out to be a wise decision.
This post has been edited by hoosieraccent: Jun 8 2008, 07:19 PM
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Jun 8 2008, 07:26 PM
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Newbie
Group: Members
Posts: 17
Joined: 6-February 07
Member No.: 27,248
Status: 
Location: USA
Drives: 07 accent hatch

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I'm hoping it will help our resale value in the future. I think our value will maybe go up in a few years. It seems like old civics and corollas from the early 90's still have pretty good resale.
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Jun 8 2008, 09:47 PM
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Group: Members
Posts: 1,112
Joined: 9-September 06
Member No.: 22,154
Status: 
Location: USA
Drives: 06 accent

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Nobodies, tell us how you really feel, no need to hold back man! :grin:
They could do better on gas, sure... But they could be much, much worse. Like that Hummer that was tailgating me on the way home, really **** at me because I was sticking to the speed limit like glue regardless of how close he got his machomanlymobile to my back bumper. :P I was getting 38 per the SG at the time, that's a **** of a lot better than what he was getting. :grin: We may not be in Prius territory, but we're still better than a lot of other new vehicles.
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