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Would an $8k Cash Incentive Be Enough To Lure You In The Driver's Seat Of An SUV?

Soccer moms and cargo haulers rejoice. Buying a new gas guzzler while the price for regular unleaded creeps above $4 a gallon may not be the crazy, cash-wasting move it seems.

Skyrocketing gas prices scared off many would-be buyers of SUVs, trucks, minivans and other large vehicles over the past year. Now auto makers are trying to lure them back onto car dealers' lots by offering head-turning cash incentives — some as high as $8,000 — on these now-notorious gas guzzlers.

Call it an act of desperation. Sales of SUVs and light trucks fell 24% since last May, while heavy truck sales are down 30%, according to Autodata Corp., a New Jersey-based market researcher. (The situation is so dire that both Ford and General Motors are temporarily shuttering some plants that make SUVs and trucks.) During the same time, manufacturer incentives were up 5% year over year, according to Edmunds.com. Today, average incentives for large trucks total $4,667; for large SUVs, $4,603.

 

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Would an $8k Cash Incentive Be Enough To Lure You In The Driver's Seat Of An SUV?



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DexDiamondsDexDiamonds - 6/24/2008 4:21:54 PM
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Maybe if the SUV cost about $8-10k lol

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henbmwhenbmw - 6/24/2008 4:24:00 PM
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A few thousand $ is hardly enough incentive to lure me towards one of those behemoths.

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hao420hao420 - 6/24/2008 6:35:58 PM
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Paid total $84K for D LX570,still don't think that there is anything else want to buy........<


hao420hao420 - 6/24/2008 6:38:38 PM
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I mean $89K for everything loaded


LexSucksLexSucks - 6/24/2008 8:20:24 PM
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The best thing to ever happen to the auto industry are high fuel prices.


Matthew1Matthew1 - 6/24/2008 8:22:29 PM
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hao, maybe you should get out more.


JRobUSCJRobUSC - 6/24/2008 4:24:52 PM
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The bigger the incentives are on new ones, the better the deals are on one or two year old "barely used" ones. $52k 2007 Envoy's are bringing $20k a year and 12k miles later, so I don't care what the rebate is on the new one, the used one is a better deal. It's too bad GM/Ford/etc. can't build a "used car" factory, churn those out at market value, and just skip the "new car" stage where they're losing thousands upon thousands of dollars per vehicle.

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autoproautopro - 6/24/2008 4:34:36 PMView My AgentSpace
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The LX570 is still selling at sticker price.People who can afford an 85k SUV don't worry about 4.00 gas prices.

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kut17kut17 - 6/24/2008 5:52:40 PMView My AgentSpace
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It's true. I went with my dad to look at BMWs and Lexus' and they told us that they rarely drop the sticker price because those who are in the market for a luxury car can pay full price.


damikcodamikco - 6/24/2008 7:25:38 PMView My AgentSpace
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You fell for that?


kut17kut17 - 6/24/2008 8:53:15 PMView My AgentSpace
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I thought it was weird too, but they would not budge on the price.


nybimmernybimmer - 6/24/2008 10:05:01 PM
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Don't fall for the 'we don't discount the luxury cars' BS. I bought an MB S550 two months ago and went to my local dealer and asked for their best cash price and then another dealer. Once my local dealer knew who they were up against, they sharpened their pencil and I got 4% off sticker.

The second dealer (a much larger, company-owned store) told me initially that 2% off sticker was the best they could do until I showed them the written offer from the first dealer.

I wanted to give the local dealer the busines so I went with them - but the larger store would've gone down to 6% off I think to get the business.

You have to play two dealers against each other.


kut17kut17 - 6/24/2008 10:50:24 PMView My AgentSpace
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That was the problem with my situation: there's only one BMW dealership and both Lexus dealerships are owned by the same guy.


utahnkidutahnkid - 6/25/2008 2:49:10 AM
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Are you guys rookies? It's 2008, and the dealership doesn't even have to be in the same state. Take 5 minutes and do a search on the various internet classifieds, find the lowest price, call and have the quote signed and faxed, take your new coupon to any dealership you want.


CLK63BlackSeriesCLK63BlackSeries - 6/25/2008 4:24:46 AMView My AgentSpace
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Look at you guys... thinking you guys are all-knowing talking about faxing quotes and what-not. All you REALLY have to do is go to Carsdirect.com and print out their price for the car you would like to buy. They consistantly give quotes lower (by 2-10k depending on the car) than sticker. You package the car, print out the page with the price and options, take it to the dealer, and they have to match it. Otherwise, you can go ahead and buy through carsdirect via their associate dealerships, and your local dealer definitely doesn't want that.


AlexTxAlexTx - 6/24/2008 5:19:54 PM
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The death of the mid size and full size S.U.V is comming soon.
It will be replace by crossover.
Ford talks even to kill the Explorer...

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kut17kut17 - 6/24/2008 5:53:57 PMView My AgentSpace
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I don't think so. Chevy/GMC has the Tahoe/Yukon Hybrid. Sure, they're not that fuel efficient now, but I'm sure with time they'll improve.


85bmw745i85bmw745i - 6/24/2008 7:07:09 PMView My AgentSpace
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It's kinda pointless to offer the tahoe. the hybrid cost over 50k. people who need the fuel savings can't afford it, those that can afford it make enough money not to have to worry about fuel economy. it's more like a fad so people can say I drive a hybrid.


kut17kut17 - 6/24/2008 5:51:40 PMView My AgentSpace
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It depends on my financial situation what I would do. If I could barely afford the SUV with the $8k discount, then no, I would not buy it. But if I could afford full price, then got $8k off, then I would buy it because I wouldn't pay $8k on gas until a few years had passed.

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0to600to60 - 6/24/2008 6:04:49 PM
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Arent SUV's dropping in value faster now? It will probably drop 20k in value just to save 8k. 8k off on a used one may not be a bad deal depending on the SUV.

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0to600to60 - 6/24/2008 6:04:50 PM
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Arent SUV's dropping in value faster now? It will probably drop 20k in value just to save 8k. 8k off on a used one may not be a bad deal depending on the SUV.

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204E60204E60 - 6/24/2008 6:08:36 PM
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EL34EL34 - 6/24/2008 6:15:50 PM
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Damn, that Toyota looks like a blimp :-(

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_43LE_43LE - 6/24/2008 10:52:44 PM
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Like all big SUVs.


hao420hao420 - 6/25/2008 12:42:21 AM
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I'm thinkin Lexus should offer a hybird version for D LX570 huge beast.


kpaxxkpaxx - 6/25/2008 9:01:53 AM
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so it can save what maybe 2mpg!


thstonethstone - 6/24/2008 6:48:16 PM
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Heck YES! What is with you people? You act like $50 a week in higher gas prices is killing you. Most everyone on this board spends that at Starbucks in a month. PLEASE don't start the belly-aching about how poor you are. Do you have cable tv? How about a cell phone? How often do you eat out? You get my point.

Folks, you can buy a LOT of gas with $8,000. Assuming $4 a gallon, that is 2,000 gallons and at 15 MPG, that is 30,000 miles of free driving!

Plus, you will be able to drive around in a $35,000+ SUV instead of a $20,000 POC.


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Homer007Homer007 - 6/24/2008 7:26:28 PM
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Each fill-up cost me $50 bucks here in Texas.
fillup on the gas tank on average 5x a month.
(I drive at least 110 miles per day)
So the cost of the gas bill per month=$250.00 = year=$3,000.00

So, there you go. For me, $8,0000, assuming $4 per gallon only doesn't give me alot of gas! If, I have a car that averages between 26-35 miles per gallon it'll cost me $3 grand at least per year, so if you were to drive these behomeths that gets on or about 11-18 miles per gallon then $8,000 will at best last for only a year or so.


Homer007Homer007 - 6/24/2008 7:31:15 PM
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I also have perfect example of idiots i.e. my next door neighbor..let me explain. The fella drives his V8 SUV for going to work and drive back home, that's it! He told me he spends at least $600 per month on gas and this was back in good old $2.25 per gallon happy days! Currently this loser is spending a grand per month on gas to drive his POC SUV. Now do you get it!


NItePhireNItePhire - 6/24/2008 7:56:45 PM
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Even with 10 grand off, that lex pictured cost too much.

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autoproautopro - 6/25/2008 2:06:48 PMView My AgentSpace
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Still sold out a sticker.


ZBL1414ZBL1414 - 6/24/2008 8:08:34 PM
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If gas was $1.50 a gallon and that Lexus was $30k I wouldn't buy it. No amount of money is worth that amount of driving boredom.

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autoproautopro - 6/26/2008 2:46:06 PMView My AgentSpace
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Still selling at Sticker.


mini22mini22 - 6/24/2008 8:15:15 PM
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The deal is what group of consumers have car companies been selling their big pickups and suv's to? Answer not rich people but rather the middle class,lower to upper.Rich people of course can afford 60 grand plus SUV's no problem.However the 25 to 40 grand group are not buying them anymore. They are the ones most affected by the high gas prices.So 8 grand off the price will not entice anybody who is intellegent. Just like $2.99 a gallon from Chrysler wont work either.The math does not add up.Soon with the bottom having dropped out of the market for these vehicles GM,Ford and Chrysler will have to completely stop making them because it will no longer be cost efficient.The only companies that will be able to continue to afford to make them are LandRover,Porsche and perhaps Lexus and Infinity,maybe Volvo. I doubt Cadillac or Lincoln will be able to continue to make theirs before long as they sell in a lower price bracket.It will be a high end market only.

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rscaffidirscaffidi - 6/24/2008 10:29:43 PM
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Don't be fooled by the "someone who looks for this (you luxury nameplate here) car doesn't woory about the cost. In late '06 I was looking for a nice high end SUV for my wife to replace the minivan we both despised. I eventually went to a Mercedes GL 450 and got it for 500 bucks over dealer invoice. Bottom line was it was december and they had 6 sitting on the lot. I even got a color they didn't even have...they were ecstatic to be able to do a dealer switch to get my car and drop their numbers by one. I'm now in the process of negotiating for a Lexus RX400h and Lexus is trying to sing the same song...bottom line is they have 7 on the lot and June 2008 has been the WORST auto sales month in years...at first they wouldn't budge on the sticker...so far I've dropped the by 3 grand....if they're hungry to make a sale, ANY dealer will give you what you want, even with a hybrid.

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damikcodamikco - 6/25/2008 11:39:20 AMView My AgentSpace
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s



t_bonet_bone - 6/24/2008 10:39:31 PM
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The minute you have it sitting in your driveway you have a very unusual situation. True, you may have saved thousands that would more than offset the gas prices. But at the same time, each trip the money is coming straight out of your wallet. Only a CPA who created a special "gas account" with the incentive savings would be objective enough to not cry when loading $150 of gas into the tank.

For the rest of us it would be a hell of a thing. A new vehicle that you hate to drive, make excuses not to drive.

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Bmw8terBmw8ter - 6/25/2008 7:30:11 AM
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You might save $8k at the dealer on the new SUV, but once you drive off, you're atleast $15k in the hole. I hope people buying these things are smart enough to purchase GAP Insurance with the vehicle.

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AMiodynskiAMiodynski - 6/25/2008 11:50:22 AM
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Lexus and BMW don't discount their vehicle's in general. Too bad there are Dealers out there that are looking to just sell as much as they can for as little as they can. But if want to by a Mercedes Benz, I'd ask for 20% off of list NYBimmer, since they drop like rocks !!! I took in a 9 month old S550 that listed for $113K and turned around and sold it for $78K !! Ugly as hell too.


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AMiodynskiAMiodynski - 6/25/2008 11:52:50 AM
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I'd rather buy a LS460L for $87K, and have a cup holder that fits my Grande Vanilla Bean Frap thank you very much !! Mercedes Benz blows !!! Looks nice, but terrible service and customer satisfaction....

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amazinBimmeramazinBimmer - 6/25/2008 1:16:21 PM
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local guy in New Jersey was offering brand new escalade for 20K off sticker.. woudl not write it down.. because he knew id gt a better deal somewhereelse..dont wory, i was just testing th emarket.. wouldnt be caught dead in a POS american car.

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AMiodynskiAMiodynski - 6/25/2008 3:47:27 PM
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Below is an Example why you could get $20,000 off a Brand new Escalade !! I pulled this just being curius. This is how cheap they are going thru the auction !!! Kind of hard to read, but at first tells you where they were sold, then for how much, then miles, and color.

A 2008 Escalade AWD 6.2 Liter.

06/24/08 OMAHA $27,750 7,613 Below SILVER 8G A
06/24/08 OMAHA $27,750 7,605 Below SILVER 8G A
06/24/08 OMAHA $27,900 8,361 Below WHITE 8G A
06/18/08 STATESVL $28,000 24,255 Below BLACK 8G A
06/24/08 OMAHA $28,500 15,999 Below SILVER 8G A
06/24/08 OMAHA $28,900 8,471 Below WHITE 8G A
06/11/08 ATLANTA $29,000 24,877 Below BLUE 8G A
06/24/08 OMAHA $29,300 6,876 Below WHITE 8G A
06/12/08 DETROIT $29,600 24,362 Below MDBLUE 8G A
06/12/08 DARLNTON $30,100 22,709 Below CHAMP59U 8G A Yes
06/19/08 ARENA $30,250 17,580 Below BLUE 8G A
06/04/08 STATESVL $30,500 22,503 Below TAN 8G A
06/11/08 DARLNTON $30,750 26,092 Below BLACK41U 8G A
06/11/08 DARLNTON $30,800 21,360 Below BLUE46U 8G A
06/24/08 STATESVL Lease $31,000 19,946 Below MAROON 8G
06/24/08 OMAHA $31,000 14,798 Below WHITE 8G A
06/24/08 OMAHA $31,000 7,563 Below BLUE 8G A
06/12/08 NEVADA $31,000 17,861 Below GRY BLU 8G A
06/05/08 DENVER $31,000 6,355 Below BLACK 8G A
06/03/08 NORTHSTR $31,000 20,485 Below PEWTER 8G A
06/19/08 ARENA $31,600 8,423 Avg SILVER 8G A Yes
06/12/08 DETROIT $31,900 24,647 Avg BLACK 8G A Yes
06/24/08 BIG H Lease $32,000 16,562 Avg SILVER 8G T Yes
06/19/08 DENVER $32,000 10,121 Avg GREY 8G A Yes
06/11/08 DARLNTON $32,000 23,745 Avg BLUE46U 8G A Yes
06/11/08 ATLANTA $32,000 14,225 Avg SILVER 8G A Yes
06/05/08 DENVER $32,000 16,412 Avg BLACK 8G A Yes
06/05/08 DENVER $32,000 7,967 Avg GOLD 8G A Yes
06/03/08 NORTHSTR $32,000 19,781 Avg BLACK 8G A Yes
06/05/08 DENVER $32,100 13,002 Avg GRAY 8G A Yes
06/05/08 NASHVILL $32,200 22,881 Avg STLTHGRY 8G A Yes
06/05/08 DENVER $32,400 6,479 Avg BLUE 8G A Yes
06/12/08 NEVADA $32,500 13,562 Avg BLACK 8G A Yes
06/05/08 DENVER $32,500 6,391 Avg GREY 8G A Yes
06/04/08 STATESVL $32,500 20,132 Avg BLACK 8G A Yes
06/04/08 STATESVL $32,500 11,257 Avg BLACK 8G A Yes
06/24/08 DALLAS $32,600 9,212 Avg TAN 8G A Yes
06/12/08 ST LOUIS $32,700 4,435 Avg BLACK 8G A Yes
06/05/08 DENVER $32,700 8,084 Avg GOLD 8G A Yes
06/05/08 DENVER $32,700 7,547 Avg RED 8G A Yes
06/12/08 ST LOUIS $32,800 11,737 Avg BLUE 8G A Yes
06/05/08 NASHVILL $33,000 15,110 Avg STLTHGRY 8G A Yes
06/05/08 NASHVILL $33,000 12,546 Avg GLD MIST 8G A Yes
06/05/08 NASHVILL $33,100 24,587 Avg BLACK 8G A Yes
06/05/08 DENVER $33,200 10,992 Avg BLUE 8G A Yes
06/04/08 STATESVL $33,250 13,565 Avg WHITE 8G A Yes
06/05/08 DENVER $33,300 8,278 Avg BLACK 8G A Yes
06/17/08 UTAH $33,500 13,059 Avg BLUE 8G A Yes
06/03/08 UTAH $33,500 14,385 Avg BLACK 8G A Yes
06/12/08 BUTLER $33,600 8,978 Avg GOLD 8G A Yes
06/04/08 PORTLND $33,700 8,116 Avg BLACK 8

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Bmw8terBmw8ter - 6/25/2008 10:54:58 PM
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That's a little pointless to the average consumer. First, you have to have a license to purchase cars from auctions. Secondly, the people you go up against know exactly which cars are worth the risk. The average consumer stands a better chance, haggling the crap out of the car dealer. Some you don't even have to haggle much over.

The Chevy dealer here had brand new Tahoes starting at $15k under sticker. There's no doubt in my mind, you could talk them down even further. Even some of the Corvettes were discounted $10k.

It all about looking for the right deal.


TexLandRoverTexLandRover - 6/25/2008 10:24:38 PM
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Bottomline is most folks will be driving around in very small cars. Lucky few who have jobs & pensions will be able to drive what they want. Gas price will not be a big factor. Now having a nice car will be an "American Dream" ... just like that Big house. Oh well, that is the way it goes.

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Designer1Designer1 - 6/26/2008 4:05:43 AM
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For the high end SUV the rich people won't care about the $8k, actually they would rather add $8k on top of the price to brag about it. But for low end SUVs that cost $30k, then yes that's worth it.

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rscaffidirscaffidi - 6/27/2008 8:57:30 PM
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I disagree, Designer1..just because I may be able to afford the high end SUV, that doesn't mean I want to pay what they want me to pay for it...I started off in a blue collar family and gradually worked my way up until I could afford the higher end stuff, but I gotta tell you, there's no way I'm ever paying list on a car, and I never will...maybe my kids will because they might not have to scratch and claw their way like I did, but that' a different story

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