HOLDING ON TO BIG SUV'S

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June 12, 2008 -- Updated 1202 GMT (2002 HKT)

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CNN.com readers holding on to big SUVs

* Story Highlights
* High gas prices not convincing all iReporters to sell SUVs
* Some have found ways to make money on the gas guzzlers
* Others say they wouldn't save enough money to justify new car
* Tell us what you think about gas prices: Share photos, videos
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By David E. Williams
CNN
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(CNN) -- iReporter James Holler is the first to admit that he drives a gas-guzzler -- in fact, he has two of them.
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Kim Davis says she gets tired of the glares she gets from Prius owners.
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The Houston, Texas, businessman spends about $75 a week to fill up his 2004 Ford Expedition and another $80 on premium gas for his 2001 Jaguar XJ8.

But instead of being a drain on his wallet, the soaring price of gas has been a financial windfall.

"There's good business in it," Holler told CNN. "They're older models, but because everyone's dumping their vehicles you can't beat the price on them."

NOTE: SOARING PRICES OF GAS CREATED OPPORTUNITIES TO THOSE WHO LOVES SUV'S.

Holler paid thousands less than the cars' blue book values and also saves on insurance because they're older cars, he said.

One of his friends bought a Toyota Camry hybrid and is saving about $300 a month on gas, but has a $600 a month car payment, he said.

Holler also is making money off of the SUV glut by buying vehicles at cut rate prices and selling them to people in Central and South America, where gas is cheap and big trucks are in high demand.

"I'm snatching them up as fast as I can," he said.
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He says he just bought a pair of 2007 Ford F150s for $9,000 each and he's selling them for $18,000 each. It costs him about $2,200 to ship a vehicle out of the country, which leaves him with a tidy profit.

We asked CNN.com users why they were hanging on to their trucks, vans and SUVs in the face of record oil prices and $4 per gallon gasoline. We heard from hundreds of people, who love their big rigs, or would love to get rid of them. iReport.com: Still driving a gas guzzler?

iReporter Scott Edstrom, of Grand Ledge, Michigan, says he's pretty much stuck with his Chevrolet TrailBlazer because he's "upside down big time."

"I know what I owe on it and I know what they're going for -- significantly lower than what I owe -- so I haven't even attempted to sell it because I know I can't," Edstrom said.

The network IT analyst said gas prices have doubled since he bought the car in 2005 and that he's paying about $100 a week to fill up.

"I've run out money before I've run out of month several months in a row now," Edstrom said. "It's been a struggle to get by."

Kim Davis, a Philadelphia, Pennsylvania, software product manager, tried to sell her Land Rover Discovery two years ago, but didn't get a single offer.

Davis is glad she held onto it now, because she said she is only about $1,000 away from paying it off. She said it costs about $70-$85 to fill up.

NOTE: SELLING SUV'S THIS TIME OF CRISIS IS TOUGH.

"I make enough money to drive my car, $4 [for gasoline] isn't going to kill me per se, it's the principle that the United States doesn't have any control of prices," she said. "It seems like things are going out of control."

Davis doesn't drive it much during the week because she works from home and carpools when she has to go to office.

She'll probably trade it for a more fuel efficient SUV one day, she said, but she's not sure putting another new car on the roads is the best thing for the environment either.

"Hopefully they can convert these cars to other fuels," she said.

Cory Werner, of Austin, Texas, has taken auto recycling to an extreme. He drives a 1959 Ford panel wagon that was a Sears delivery truck in a previous life.

The 39-year-old baker said he's been fixing up old cars since he was 16.

"I've never had a car payment in my life," Werner said.

The truck gets surprisingly good gas mileage, he said. About 20 mpg on the highway and 15 mpg in town. He said Austin has a pretty good public transportation system, and he also rides his bike to work a lot.

"My gas bill a month is $140, $200 a month for gas," Werner said. "Some people's full coverage insurance is more than that."

In addition to the cost savings, Werner said he gets the enjoyment of working on old cars and the satisfaction of saving a vehicle from the junkyard.
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But there are some drawbacks, especially in the hot Texas summer.

"It's not for everyone. It doesn't have air conditioning," he said. "It's expensive to add air conditioning to an old car."
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Sound Off: Your opinions and comments
Al
updated June 12, 2008

"Holler also is making money off of the SUV glut by buying vehicles at cut rate prices and selling them to people in Central and South America, where gas is cheap and big trucks are in high demand."

Last ti ...more

"Holler also is making money off of the SUV glut by buying vehicles at cut rate prices and selling them to people in Central and South America, where gas is cheap and big trucks are in high demand."

NOTE: THERE ARE STILL PLACES IN THE U.S. WHERE GASOLINE IS STILL CHEAP. GOOD OPPORTUNITY TO SELL SUV'S.

Last time I checked gas prices in most central and south American countries were much higher than the US less
Jeff
updated June 12, 2008

I have a wife and 7 kids. Let's see if we can cram everyone into a Prius. Nope. I think I will keep my Expedition. It will be paid off in 6 months.

I have a wife and 7 kids. Let's see if we can cram everyone into a Prius. Nope. I think I will keep my Expedition. It will be paid off in 6 months. less
Jack
updated June 12, 2008

I drive an SUV because I like the room, simple as that. I like civilization. I refuse to go back to living in caves, and I refuse to give up driving a civilized car. It's just silly that SUVs have been cast as the sin ...more

I drive an SUV because I like the room, simple as that. I like civilization. I refuse to go back to living in caves, and I refuse to give up driving a civilized car. It's just silly that SUVs have been cast as the single biggest threat against the world. I will be happy to drive more efficient vehicles... but that vehicle better be as comfortable as the car I'm driving now. This is not selfishness, this is confidence that humanity can solve problems through technology without impacting our lifestyle. Pessimists will never be happy, they are best ignored while the innovators solve our problems. less
Pat
updated June 12, 2008

6 ft 4 In Husband. There just aren't too many fuel efficient cars he fits into.

6 ft 4 In Husband. There just aren't too many fuel efficient cars he fits into. less
TellTheBigDog
updated June 12, 2008

Being the pround owner of not one but three gas guzzlers (07 Sierra Denali,07 Yukon Denali, 04 SSR) I went out and bought a brand new 08 Harley so I could ride to work on something that got more than 20 MPG. Now I listen to the rumble of that HOG and smile all the way to work.....

Being the pround owner of not one but three gas guzzlers (07 Sierra Denali,07 Yukon Denali, 04 SSR) I went out and bought a brand new 08 Harley so I could ride to work on something that got more than 20 MPG. Now I listen to the rumble of that HOG and smile all the way to work..... less
John Applewood
updated June 12, 2008

Hey people, how about instead of whining about who is right and who is wrong, you put that energy in trying to solve the many problems that exist this country -- our dependance on gas being one of them. Here are some ...more

Hey people, how about instead of whining about who is right and who is wrong, you put that energy in trying to solve the many problems that exist this country -- our dependance on gas being one of them. Here are some examples:

1. Live closer to where you work. You do not *have* to live far away. You choose to do it.
2. Choose to take public transportation. And if you don't have it, petition your government to make them get it. Grass roots efforts.
3. Talk to your boss about working from home 1-2 days a week, if you have an office job.

Our problem is that we are lazy, unmotivated and basically a pass the buck generation. We just want to continue to live life the way we have lived it and who gives a darn what happens to our children and grandchildren -- we'll be dead and not have to worry about those things.

There is a need for big trucks, sure. For people who rely on it for *real* business (food and goods transport, for example).

But when people say "Well, I need my SUV because I have a big family" or "I need to go to the mountains", what they are really doing is just making excuses not to work hard to solve problems or inconvenience themselves. Period. less
Hustonian
updated June 12, 2008

You NEED an SUV in Houston. Small cars will beat themselve to death on the uneaven pavement (and potholes) we have here. SUV's are safey in a crash with the ill-inspected Mexican truck s that are allowed to roam her ...more

You NEED an SUV in Houston. Small cars will beat themselve to death on the uneaven pavement (and potholes) we have here. SUV's are safey in a crash with the ill-inspected Mexican truck s that are allowed to roam here. You need an SUV to carry home improvement materials (that save even more money!) or tow boats or even trailers to the kid's college dorm every year.

You ever TRY to drive a Prius to Home Depot to get sheets of plywood and some gardening timbers? less
Matt
updated June 12, 2008

Its crazy to think people complain about having to pay so much for gas prices. Some people cant afford food, cant afford homes, cant afford the luxuries you can. Now im not getting all crazy and speaking about 3rd wor ...more

Its crazy to think people complain about having to pay so much for gas prices. Some people cant afford food, cant afford homes, cant afford the luxuries you can. Now im not getting all crazy and speaking about 3rd world countries, im talking about right here. I am happy to have anything I do have, and will never complain about the things i dont. I hate receiving gifts, I dont like receiving anything I havent earned. I know this is going a little off topic but its just annoying. When you bought your expensive suv whether it was a must or not should have thought about all angles of cost, down to, hey, could gas prices go up? Just like a variable apr for your cc and mortgage hell yes it can and guess what it did.. less
Stephanie
updated June 12, 2008

Am I really the only one that gets it? The problem with those of you who choose to drive SUVs is not a matter of who can afford the gas cost, or who has paid off their car and who doesn't, or who offsets their gas em ...more

Am I really the only one that gets it? The problem with those of you who choose to drive SUVs is not a matter of who can afford the gas cost, or who has paid off their car and who doesn't, or who offsets their gas emissions by doing environmental work. The problem is that oil is a very precious resource and millions of Americans are using more than their share of it and being wasteful by driving inefficient vehicles. I welcome $5/ gallon gas or even $10/gallon because that may be the only thing that keeps wasteful Americans from abusing this precious resource. Until the rest of you fall in line, I'll continue to be the wealthy person, who despite being able to afford rising gas costs, rides her bike 13 miles ,one way, to work each day. Hopefully leading by example will cause others to join me and limit their usage of oil as well. less
Adam
updated June 12, 2008

CNN, the tile of this article alone is ridiculous! Hind sight is always 20/20, and you can't blame people for a decision they made 10 yrs ago. Relax, I'm sure in time, people will transition over to a hybrid, but bu ...more

CNN, the tile of this article alone is ridiculous! Hind sight is always 20/20, and you can't blame people for a decision they made 10 yrs ago. Relax, I'm sure in time, people will transition over to a hybrid, but buying a new car is a luxury and not something everyone can do all at once! So stop being so judgemental about suv drivers... please? less
D
updated June 12, 2008

Since car makers have the ability to make efficient cars why should I feel bad about driving the choices that are handed to me? Everyone is making the gas shortage out to be a consumer issue. WRONG! We have the abilit ...more

Since car makers have the ability to make efficient cars why should I feel bad about driving the choices that are handed to me? Everyone is making the gas shortage out to be a consumer issue. WRONG! We have the ability to put a man on the moon. We have the ability to have cars that run on little to no gas OR use alternate sources. It has been done. So why should I feel bad about driving my SUV. Isn't working on me. Meannwhile, my SUV is here to stay. Besides.....it is paid off. less
Jeannie
updated June 12, 2008

It will be interesting to see when it finally dawns on people that these gas prices are not just going to impact commuting, but also 'lifestyle' stuff like weekend hobbies, cabins, boats, etc. Gas prices will never be ...more

It will be interesting to see when it finally dawns on people that these gas prices are not just going to impact commuting, but also 'lifestyle' stuff like weekend hobbies, cabins, boats, etc. Gas prices will never be less than what they are today. You do know, that, don't you? And for those speeders who think it is fun to act like a 12 year old boy and drive like Mad Max, I just hope you don't also beat your wife and shoot your dogs, because you are a very angry person. less
Brett
updated June 12, 2008

OK, so my 1995 GMC Suburban diesel only gets 19 MPG. I converted it to run on used waste vegetable oil from the local restaurants..... Worst problem I have is driving with my windows open.... the exhaust makes me hungry :)

OK, so my 1995 GMC Suburban diesel only gets 19 MPG. I converted it to run on used waste vegetable oil from the local restaurants..... Worst problem I have is driving with my windows open.... the exhaust makes me hungry :) less
Alex
updated June 12, 2008

I heard yesterday that a Prius has to have its batteries replaced after 5 years and that it costs as much as $5000. Is that true? I never heard that before.

I heard yesterday that a Prius has to have its batteries replaced after 5 years and that it costs as much as $5000. Is that true? I never heard that before. less
Amy Alkon
updated June 12, 2008

Poor reporting. Anybody paying $600 a month for a Camry has seriously bad credit.

I have a Honda Insight hybrid. I spent $228 on gas. Last year. All year.

I bought it because we have soldiers ov ...more

Poor reporting. Anybody paying $600 a month for a Camry has seriously bad credit.

I have a Honda Insight hybrid. I spent $228 on gas. Last year. All year.

I bought it because we have soldiers over there in the Middle East, and I don't want to use one more drop of gas than I need to to get around. Also, I think it's wrong to impair other people's breathing if it's possible not to. My car is a SULEV, a Super Ultra Low Emissions Vehicle. less
Nick
updated June 12, 2008

I traded in my 2000 Pontiac Grand Am for a 2008 Chevy Equinox. I NEED THE SPACE, I have a family, so what? The 17mpg is about the same as the Grand Am did anyways, and the monthly payment is $258! AND I live less than 2 miles from work. So again, why do I need a tiny car with a $600 monthly payment?

I traded in my 2000 Pontiac Grand Am for a 2008 Chevy Equinox. I NEED THE SPACE, I have a family, so what? The 17mpg is about the same as the Grand Am did anyways, and the monthly payment is $258! AND I live less than 2 miles from work. So again, why do I need a tiny car with a $600 monthly payment? less
Not A Spoiled Brat
updated June 12, 2008

Some people will never get it. They won't give up their unneeded SUVs because they believe they are a status symbol. That they can continue to drive wone, when it's costing a fortune to continuie to drive one, shows ...more

Some people will never get it. They won't give up their unneeded SUVs because they believe they are a status symbol. That they can continue to drive wone, when it's costing a fortune to continuie to drive one, shows others that they have even more status. They'll spew about "freedom," not caring that their freedom to drive a gas hog is putting everyone at risk. They won't give them up on their own, so the govenment needs to move to ban them from the road in five years. Oh, the SSUVDs (stupid SUV drivers) will throw a temper tantrum for not getting their way, but we expect such behavior from spoiled children. less
Mack464
updated June 12, 2008

I just sold my BMW X-5 and purchased a Toyota Camry Hybrid. I already feel about 10% smarter. Honestly, I don't see why I didn't buy one of these prior to committing to the X-5. The money that I will save on fuel a ...more

I just sold my BMW X-5 and purchased a Toyota Camry Hybrid. I already feel about 10% smarter. Honestly, I don't see why I didn't buy one of these prior to committing to the X-5. The money that I will save on fuel alone is amazing. It's not that I cannot afford the gas, hell, I wouldn't have a problem if it was $10/gallon. The point is where is the money going? I refuse the fatten the pockets of the rich oil company execs. Some people spend money on a whim, and some people spend money with a purpose, which one are you??? less
Glenn
updated June 12, 2008

You can say what you want about smaller cars and how much safer a larger SUV is compared to one but you also have to keep in mind the larger SUV's have a much higher chance of rollover compared to say a Honda Fit.
more

You can say what you want about smaller cars and how much safer a larger SUV is compared to one but you also have to keep in mind the larger SUV's have a much higher chance of rollover compared to say a Honda Fit.

I think also smaller cars a bit under-rated inregards to crash safety as most newer sub-compact cars rate considerably well.

In the end neither car is for me. I'm not beat to pay around $100 a week to fill up my tank nor am I beat to drive around in a car the same size as a golf cart and on top of that I'm not hating on either category. If you enjoy paying all that money once a week to fill up on gas more power to you.

I'll stick with my 2007 Camry LE thats almost paid off, at least untill gas drops a bit. less
Mom to Many
updated June 12, 2008

Driving anything smaller then our SUV will not work for us. We have 6 children at home and use every seat in our Sequoia.

Driving anything smaller then our SUV will not work for us. We have 6 children at home and use every seat in our Sequoia. less
Fail To Launch
updated June 12, 2008

The concept behind getting smaller fuel efficent cars isn't to bash big SUV drivers. The thing is sooner or later, we will have no more gasoline and the inefficent SUV's are obviously going to consume more fuel faster ...more

The concept behind getting smaller fuel efficent cars isn't to bash big SUV drivers. The thing is sooner or later, we will have no more gasoline and the inefficent SUV's are obviously going to consume more fuel faster, and increased demand is only driving our fuel prices higher. So the point of getting rid of an SUV for a more fuel efficent car isn't to make you pay more, it is to conserve what we have left of the enviornment. The sooner we run out of fuel, the sooner we are going to need alternative fuel sources, which we are having trouble being implemented. There is a sterotype that all SUV drivers don't care about the enviornment or fuel prices. I don't think that is true, some people are stuck with them and want out but have limited choices, but to continue the production of fuel inefficent vehicle is only going to harm us, and I find that is the resaon drivers of smaller fuel efficent cars are picking a fight with big SUV's and their drivers. That truthfully they are hurting the enviornment, and there is something car companies can do about this. But what troubles me is when SUV drivers are complaining about gas prices. THe thing is, gas prices are never going down, they are only going up and the amount you can save by getting a smaller used vehicle will only be more, even if you hvae no car payments. It is almost the principle of the thing, as for buying imports. American car makers have not been up to par with fuel efficent vehicles, and that is the reason why american auto makers aren't doing well. If they would get into make sub compacts with 30+ mpg that could compete with foriegn cars I think our economy would be better off, at least in the auto market. Anways thats my 2 cents. less
Gordon
updated June 12, 2008

I was never stupid enough to consider buying an SUV.

I was never stupid enough to consider buying an SUV. less
Ann
updated June 12, 2008

I bought a Yukon XL Denali a little more than a year ago because with four children, a husband and a large dog - we needed the large vehicle. I've never once regreted my purchase, I ADORE MY BIG VEHICLE! No, I don't ...more

I bought a Yukon XL Denali a little more than a year ago because with four children, a husband and a large dog - we needed the large vehicle. I've never once regreted my purchase, I ADORE MY BIG VEHICLE! No, I don't like paying $4 a gallon for gas but am smart enough to know USA has gotten a break for FAR too long. Some countries have been paying over $8 a gallon for a very long time. The USA has gotten used to paying next to nothing for gasoline and is now upset that we aren't getting the break we've become used to. I am so tired of hearing people complain about gas prices, I even read a story about a middle-class couple with one child who, in order to save a little this summer, decided to cut her jeans into shorts. SO WHAT! I've been doing that for YEARS. And people complaining because they now have to be careful with purchases and are using coupons at the grocery store and god forbid, WAITING FOR SALES. We are horrible, horrible people if we think careful spending makes us underpriveleged. Maybe this is the wake up call we need. less
K
updated June 12, 2008

I am of two different minds on trucks/SUVs.

I am okay with people driving that kind of vehicle if that's what they need. If you have a huge family, are a handyman or live on a farm, you need a large vehicl ...more

I am of two different minds on trucks/SUVs.

I am okay with people driving that kind of vehicle if that's what they need. If you have a huge family, are a handyman or live on a farm, you need a large vehicle. This could be a cargo van or pickup for hauling things, or a minivan/SUV for the seating capacity. If you would need to use this vehicle much of the time even if you had two vehicles, I think that wholly justifies ownership of a truck, SUV or other large vehicle.

The thing that annoys me is seeing SUVs with only one or two people in the vehicle. These are inevitably the same people who tailgate me for only going 5 mph over the speed limit instead of 15, since they think their large vehicle is so safe that they can drive very aggressively. There is a reason everyone in a reasonable car is giving you a dirty look--it's because you are acting like someone who doesn't care if they kill somebody and/or ruin the world for future generations, so long as they have their precious status symbol.

Before the late '90s trucks and SUVs were not the majority of cars on the road. Most cars were sedans, coupes and station wagons. This says to me that most truck and SUV drivers DON'T NEED a truck or SUV. If you fit this category, get a sedan or a station wagon, and rent a truck/SUV/van if by some chance you need to haul something. less
mark
updated June 12, 2008

Ahh, the Capitalist system. Ya gotta love it.

Ahh, the Capitalist system. Ya gotta love it. less
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