What will the corona virus do to the car market? (used/car parts)

Bingo

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Yes I do, have you looked at gas company profits??? I also hope it drives overpriced hotel room prices back down again. Do I want it to hurt the economy, no, but prices of some of this stuff has gotten out of control, maybe this will bring it back down to reality.

Let me ask you what do you think the price of gasoline should be? Should a basic hotel room really cost $125 a night? I used to work with an older gentleman who owned stock in one of the oil companies, he was the only one I knew who was not bitching when gas was over $4 a gallon and he was actually happy about it.
Gas prices that low mean the economy is essentially dysfunctional. It means domestic producers can't many money drilling, so they stop, and we end up buying Iranian and Saudi oil instead of American oil. It means commerce is not happening, and the prices of other things gets cheaper, and if we run into a deflationary spiral, we end up in another Great Depression. Granted, a lot more goes into making a depression, but gas/oil prices that cheap is not a good sign.

You should also take a look at how much of that gas price is taxes and how much is actually profit for the refiner and oil company. Profits are not that obscene within the gas/oil industry.

Finally, if you feel pain at the pump driving an E-250 van on a 100-mile roundtrip commute, you may want to consider buying a more fuel efficient vehicle.
 

JJ427R

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Finally, if you feel pain at the pump driving an E-250 van on a 100-mile roundtrip commute, you may want to consider buying a more fuel efficient vehicle.
I would but I drive a wheelchair accessible van. Also drive my Mustang's but not in winter, and when I drive them I have to take my wheelchair apart and load/unload that. Van saves a lot on the arms and shoulders and I'm getting old and fat...
 

OX1

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We all wish for gas to stay low, however, it wont.
I remember an "internet myth" floating around the days of $5/gallon: stop buying gas for a day, and this meant everyone, and it will drive the price down. Guess it may have actually worked.

Now back to reality, sorry. I think gas prices will return higher than before the world shut down. One of the things the virus has no effect on is Corporate GREED. As soon as demand returns, prices will be driven to what the market will tolerate. Big oil will make the best effort to recover lost revenue as quickly as possible.

I put my "hedge" in about a week ago. Dumped some money in USO. Thinking might dump some more in UCO. If oil stays down, I get cheap fuels for all my rides and boat. If it goes up, my ETF's go up. Kind of a win-win.
 

86GT351

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Gas Prices. There is an app you can download to your phone It is called "Get Upside" I use it and have for about a year. It will tell you if the station you are at has a rebate. I go to the same station with my cars and it always has a rebate. I just filled up my Taurus the other day and it had a .19 per gallon rebate. In a year I have about 90.00 just sitting in an account that I can send to my paypal or get a gift card from various sources. Look into it. It is worth it.


https://www.getupside.com/gas/
 

MrBhp

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Gas Prices. There is an app you can download to your phone It is called "Get Upside" I use it and have for about a year. It will tell you if the station you are at has a rebate. I go to the same station with my cars and it always has a rebate. I just filled up my Taurus the other day and it had a .19 per gallon rebate. In a year I have about 90.00 just sitting in an account that I can send to my paypal or get a gift card from various sources. Look into it. It is worth it.


https://www.getupside.com/gas/

I've been trying to get it in Portland, but no participating stations yet.
 

MrBhp

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That sucks. I was skeptical at first. I even have my wife getting receipts for gas if she goes in case it is a participating station.
My daughter uses it in Mobile, saves her a lot of cash.
 

mpm_1

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I looked at a fully optioned 2017 gt350 yesterday. The thing has 3500 miles on it and looked absolutely new. The guy's in a bind, is asking 44k for it. I'm working with my bank right now to see what I can do.

This deal go through? I ask out of envy.
 
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