With gas prices going through the roof, yesterday's jalopy could be today's blue-chip used ride
Posted 05.16.2008 at 5:08 pm
6 Comments
A rust-dappled Hyundai for $3,000, a clapped-out Geo Metro for $5,000, and a censurable Ford Festiva for six grand? Welcome to upside-down world. The rising price of dinosaur champagne has already decimated the large-SUV business, and now the realities of gasoline economics are elevating what was once the lowliest segment of the used-car market into Croesus' territory.
The last surviving economy cars from the early 1990s, whose light weight and efficient engines could, when new, deliver fuel economy in the 50 mpg range, are appreciating rapidly as cash-strapped buyers stalk eBay and Craigslist for well-cared-for examples. The price-appreciation of such cars is as shocking as the rise in gas prices, rocketing from around $1,000 a few months ago to five or six times that today, according to US News and World Report.
But are these cars worth the increase, or are they just a panic buy? Remember a few things: Those early cars don't have the safety ratings of newer cars. Also, since those cars were new the EPA has changed the formula with which it calculates fuel efficiency. That means the high EPS number on the original sticker will mean something more like 30 now—less if it's not in perfect running shape. Not bad, but not far off what a newer, safer economy car would get. Still, anyone with an old hatchback in running condition may be going on vacation this year after all.
[via US News and World Report]
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30mpg, guess you've not driven one. I am a happy owner of a 91 Ford(kia) Festiva, and even with a ladder strapped to the roof, stuffed full of gear, with fat tires and driven with a lead foot at 6500ft in Colorado it still gets between 38 and 42mpg.
I'd rather have a euro diesel doing 60mpg + but I'll settle for my little skittle.
I also see no reason why they can't still be built to do the same or better, the added weight of the safety features would be easily compensated by newer materials elsewhere.
Dino champagne my butt! More like Earth Beer!!
Average depth of oil wells in Kentucky: 1,436 feet
Average depth of oil wells in Australia: 8,877 ft offshore and 6,346 ft onshore
Offshore drilling in deepest water: over 10,000 ft. in the gulf of Mexico. (drilling begins at 10,000+ ft. below surface)
Must have been some deep living subterranean mole dino's or could it be that the experts got it wrong? What are the chances?
I'm not buying that Dino line of BS.
I guess these are not anywhere near the rust belt, where the road are liberally salted in winter. I haven't seen a Festiva on the road since the mid eighties...
The oil shortage is a hoax btw...
I bought my Festiva new in 1992. I regularly checked gas mileage and in the summer it was between 45 - 50mpg on a regular basis on the highway. There was even a time or two that it was over 50mpg. And it was fun to drive. I put 115,000 miles on it with no problems whatsoever. All I ever had to do was change oil.
All that being said in defense of my Festiva - I bought a new Honda Civic Hybrid in 2006. 95% of my driving is in the city, and I get 45 - 50mpg. I take the streets, not freeways, because I get much better gas mileage there. I accelerate easily and stay under 35mph whenever possible, because below that speed my car runs on the electric engine. I don't care at all about traffic jams or lights, because my car shuts off when stopped. It does require more travel time and I think it's worth it. I only need to gas up once a month in the summer. It's amazing!
Boy I sure miss my good old Chevette 40 mpg was easy in it!
Thanks for the theme dear
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