Hybrids: '00 Insight, had an '03 HCH for 41k miles
Posts: 587
Selling mileage, bank commercials
My wife just told me that a local bank has a commercial on the radio trying to get people to get rid of their "gas guzzler car/truck/SUV" and get a new fuel efficient car. Of course they are more than happy to cover the financing.
Pretty funny. What an idea.
'00 Insight "Wazabi" -75,000+ miles
'03 Toyota Matrix - 81,000+ miles '03 HCH-CVT-OSBM-41,000+ miles (retired 04-10-06) "I'm very secure with my little Insight, no Prius envy here."
To be honest I think they would rather sell the gas guzzler big SUV at $42,999. Commission (read as groceries for the fridge) is a big motivtor for the salesman. Unless everyone that decommissions their SUV buys 2 hybrids to replace it with.
To be honest I think they would rather sell the gas guzzler big SUV at $42,999. Commission (read as groceries for the fridge) is a big motivtor for the salesman. Unless everyone that decommissions their SUV buys 2 hybrids to replace it with.
You've got a point there! I was thinking in the other direction -- Selling a $21k Prius-II versus a $9k Toyota Echo.
Hybrids: '00 Insight, had an '03 HCH for 41k miles
Posts: 587
Re: Selling mileage, bank commercials
Actually, growing up in a business oriented family (auto parts) I was taught more people can afford what's cheaper so target them instead of wasting your effort for the "The Big Sale".
Just like the $21k Prius vs the $9k Echo. I'd rather sell 5 Echos instead of 2 Prius'. Gas saving cars are "normally" a bit cheaper so the bank might be on to something.
'00 Insight "Wazabi" -75,000+ miles
'03 Toyota Matrix - 81,000+ miles '03 HCH-CVT-OSBM-41,000+ miles (retired 04-10-06) "I'm very secure with my little Insight, no Prius envy here."
Re: Rigger-good point-lot more folks can afford Corolla-vs Prius
Rigger,good point.A lot more folks can afford a Corolla-new maybe $15000-than a Prius-new currently maybe $25000!!
I have sold lots of cars-trucks(mine-rather than trade) maybe 15-20 or so,and it is a lot easier to sell a $2500 vehicle(my 86 Toyota truck in 1997 with 120K miles and dinged up) than it was to sell my $6500 Toy truck in 1999 ,or my $9700 1998 Toy truck,or the $17500 Tundra in 2004.
Lower priced vehicles frequently can be bought without financing-say something under $6000-.Pricier stuff-under $10,000 can sometimes be financed through a CC advance etc.
When you get much over $12000 or so it means formal financing(big problem with private sale) or worse a very knowledgeable financially well off guy who wants a great deal,and hopes to find a distressed seller who has to sell quickly.
Private sales of expensive vehicles is tough.If the vehicle is a Toyota or Honda that is a big advantage,but it still is tough.
Inexpensive vehicles(relative toi a $40000 SUV) can make a bank more money-they can actually finance the guy who is buying it-and if his credit is so so-they can finance this car-a $25000 Prius-at a high rate and make out just fine if they have to repo it.
Why would a bank want to finance a $40,000 gas guzzler.If they have to repo it,they will have a tough time selling it.
Regular Corollas-Civics(once the 2006's cool off a little)-4 cyl Accords and 4 cyl Camrys-are all MPG winnners and can be bought for $5000 to $10000 less than a Prius or the 2006 Hybrid Civic that the dealers will want $25000 for(close to H Accord money). A $9000 price difference at $3/gal is 3000 gallons-at 30 vs 45 mpg the break even is 3000+ X/45= X/30 X=270000 miles. With an Accord-say 22 vs 44 mpg it would be more like $6000/$3 + X/44=X/22 X 88000 Miles.This ignores tax breaks-maintanence-resale effect on earth of CO2 etc.hanks.Charlie
Selling mileage, bank commercials
Re: Selling mileage, bank commercials
Commission (read as groceries for the fridge) is a big motivtor for the salesman. Unless everyone that decommissions their SUV buys 2 hybrids to replace it with. 
