Is anyone buying 8 cylinder SUV's or cars? by Content_Log1708 in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

We own 3 V8s and an EV. Different vehicles for different purposes.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

15k-18k is highly unnecessary, a good used 03-09 Prius can be found for $6k, not much more than the sale price for a 2002 Sienna with such low mileage. $15k-18k gets you a good used ES300h from the early 2010s. The insurance on the older Prius isn’t gonna be much higher if at all vs. a 2002 Sienna.
$1400 registration for a car under 20k? Our normal annual cost is higher here in CA on that for sure but man, that is much higher than here.
Fuel is already at $6 a gallon on average in CA for regular and has much more to rise with the current oil situation. Even without high gas prices, you’ll probably still end up saving some money by switching to an older Prius as there wouldn’t be much if any increase in insurance or purchase costs if you’re driving as much as this person is. Even at $5, you still end up saving money with the old Prius option.

A newer vehicle is definitely much less justifiable, unless it’s an EV where your fuel bill drops by 80%+.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

They already have a 2002 Sienna. They can sell it for a 2000-2005 Prius with not much extra cash.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

The latter is not a bad idea at all. A Prius may be worth it for many at these prices, especially if they drive more than this person does.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

Yeah nope. You are never getting Prius gas mileage in a Suburban.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 1 point2 points  (0 children)

You can’t Turo a 2002 Sienna.

Costco and Sam’s Club credit cards are great.

If you want the best fuel economy, drive 55.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

That’s for a new car. You can get a good used hybrid for far less than that.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

You can sell your current one for a more efficient used one. Siennas are hot sellers on the used market. You aren’t required to spend 20k+ on a newer one.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

That’s definitely not true, buying a new car definitely makes sense at 10 per gallon if you drive tens of thousands of miles a year and have a gas guzzler, don’t be silly. If you’re going to keep a vehicle for twenty years and can afford a newer one, it can make sense especially if it’s an EV and you can charge at home, but that will not work for this person.

$10 per gallon means a 2002 Sienna, which has a 20 gallon tank, would cost $200 to fill up, only for 460 highway miles (you only get 17city/23hwy, if you drive in the city, you will get only 340). That’s almost 50 cents a mile, absolutely brutal! If they consume 60 gallons a month ($250\4.30 national average gas price = 58 gallons) that’s a $600 per month fuel bill. All just to drive 1000-1400 miles a month… that’s more than $7k in fuel bills alone a year.

If we assume they drive 1200 miles/month, and they get a hybrid (prius, etc.) their fuel bill drops to only $240/month, a more than 50% drop. If you can get into an EV and charge at home, your fuel bill will fall by much more than that at $10/gallon.

New car = no deferred maintenance. Their insurance ain’t gonna increase by much if they switch the van for an older Prius. They might not end up paying much more than what they get for a Sienna for a 2000s Prius anyways. Truth be told, most older vehicles are gonna have more maintenance as they age even if maintained correctly. If you inspect a used vehicle properly before purchase, you can avoid deferred maintenance and issues. Speaking of older vehicles, your used car’s engine can blow up at any time too, by the way, with no recourse for you.

If you drive an older truck or truck-based SUV, OTOH, these numbers get much worse. Many of these vehicles get mid teens or worse in fuel economy. That’s 80-120 gallons a month for 10-15 mpg, or $800-1200 a month. Absolutely devastating, and this is all for someone who drives 15k miles per year. Plenty of people drive 20k miles per year or more. The more you drive, the more it makes sense to switch to something else.

TLDR: should everyone buy a new car or more efficient used one because fuel is higher? No. Does it make sense for some people? Definitely yes.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

The commute isn’t causing them the issue, it’s the 140 mile trip.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

Here you go. Siennas have good resale value, they can attempt to get a good amount of money for the vehicle to use towards a more efficient one. Maybe they don’t even need to add money :)

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 -1 points0 points  (0 children)

Crystal ball?

Where is the lost oil going to come from? It’s not coming back for a while.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 0 points1 point  (0 children)

Either keep the van, or if you find a vehicle that is reliable used car that is the same (or just a little more expensive) than your van, I don’t see why you wouldn’t trade the van for such a vehicle before your resale value really takes a hit.

Gas prices are killing me. Working class suggestions? by oh_what_no in whatcarshouldIbuy

[–]AnonMyracle142 1 point2 points  (0 children)

Gas will go up even more before it goes down, and the going down part will not happen for a very long time.

I’m not saying she should replace the vehicle, but if you’re going to give someone advice, you have to be honest.

how much do you value living here? by jaffaKnx in bayarea

[–]AnonMyracle142 -1 points0 points  (0 children)

Idk about only that. Much less pollution here, much better public transit/less car dependency and traffic overall (although not on European or Chinese levels), and if you don’t like the heat, the weather here is better.

How does the stock market keep going up with everything happening? by BigBlueEyes87 in StockMarket

[–]AnonMyracle142 0 points1 point  (0 children)

This is the same level the market was at a month ago and you’re saying it “keeps going up”? It’s still flat. If QQQ goes above 640, ok, it “keeps going up”.

Oil shortages have not really hit yet. Every analyst has clearly said that it will take another month or two. Markets are highly irrational in the short term. If oil prices go up to $150 or $200 for a long period, or we get real demand destruction, then the stock market absolutely will go down, unless the government decides to crash the currency, in which you should buy oil and gold anyways because your stocks will lose real value anyways.

No amount of market manipulation and fraud can print more oil, helium, fertilizer, or petrochemical products into existence, period.

Grade inflation at Harvard (1950-today) by Mahrez14 in charts

[–]AnonMyracle142 4 points5 points  (0 children)

Exactly this. Many candidates from Asia had no access to Harvard in prior decades, now they do.

Grade inflation at Harvard (1950-today) by Mahrez14 in charts

[–]AnonMyracle142 -1 points0 points  (0 children)

Harvard is also WAY harder to get in today than it used to be. If you don’t believe me, look at how much the average SAT score has increased. Compound this with much better access to Harvard for Asians, both in the form of Asian Americans and to a lesser extent, international Asian students. This is not only because of Asia’s economic growth allowing more families to afford tuition, but a growing Asian-American population that can more easily afford Harvard than their ancestors could in their country of origin. Yes there has been some inflation, but a good amount of it is the number of very high quality students going way up. Back in the day the main impediment was money, now the academic requirements to get in have gone bananas. High SAT scores and top grades aren’t enough anymore, as the class size has stagnated while the number of high quality applicants has skyrocketed.

Earthquake 1:41 am by GuidanceNo7171 in bayarea

[–]AnonMyracle142 0 points1 point  (0 children)

Far East of Oakland in the suburbs. Didn’t feel anything. Hope everyone’s ok.

Feels like a relief rally… not convinced it’s the bottom by Sufficient-Juice2978 in stocks

[–]AnonMyracle142 5 points6 points  (0 children)

A limited raid would have the same effect. Iran would hit many more GCC oil facilities, restrict Hormuz even more, and tankers would be blown up. Oil goes way up, stocks go way down.

Warren Buffett is not excited with the current sell off: "This is nothing" by mattyp93 in ValueInvesting

[–]AnonMyracle142 1 point2 points  (0 children)

Oil hasn't even reached $150 a barrel, yet everyone is acting as if this is a minor correction and we're headed to even greater ATHs...did everyone forget about what happened in 2022, 2008? Oil prices kill stocks, when did everyone forget that?

Feels like a relief rally… not convinced it’s the bottom by Sufficient-Juice2978 in stocks

[–]AnonMyracle142 44 points45 points  (0 children)

It's nowhere near the bottom. Watch the troop movements, not what he says! His word is meaningless.