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Gas-Guzzling SUVs: Bombs or Bargains?
Gas prices are way down and incentives on gas guzzlers are way up. It's the perfect storm for right-thinking Americans who believe any vehicle weighing less than 5000 pounds is too sissified for consideration, because now the gas guzzlers are the cheap wheels. In your face, Prius lovers!
Of course, this glee could be short-lived. At this moment, gasoline prices in the U.S. are averaging $2.17 for a gallon of regular. One month ago, the national average was $3.11 a gallon. Could gas prices rise again just as quickly as they fell?
Not likely, says Gregg Laskoski, public relations director for AAA South. "As long as the demand stays down, prices should stay lower," he says. "And the demand is still down by about five percent." Suddenly, that jumbo SUV starts to look like less of a pariah and more of a deal.
Running Some Numbers
Consider the Toyota example. A 4Runner with the 4.7-liter V-8 and four-wheel drive lists for just under $33,445, but with discounts and rebates—the 2008 model has $2500 cash back, which is huge by Toyota standards—you should be able to buy them all day for $28,500.
Keep Reading: Gas-Guzzling SUVs: Bombs or Bargains?
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