Saturday, May 31, 2008

Gas Prices Drive Geo Metros From Clunkers to Chic

The 1995 Geo Metro pictured above (92,800 miles) has a Kelly Blue Book Retail Value of $1,790 and a Private Party Value of just $1,335, but it just sold on Ebay for $5,200 (with 34 bids).

Reason? Great, gas mileage (50 mpg), rivaling the hybrid Prius.

According to CNN, a 1996 Geo Metro sold on Ebay recently for $7,300, which is just $1,700 less than what Metros sold for new in 1995-1996, about $9,000.

In May alone, 43 Metros of various years and models were sold on eBay, ranging in price from $221.50 to $7,300. The cars have been hot items, drawing upwards of 49 bids on certain vehicles, with many of the auctions coming down to last-second bidding wars.

As of today, there are currently
39 Geo Metros for sale on Ebay, highest bid is currently $4,000 (38 bids total) for a 1993 model with 87,000 miles, auction ends tomorrow night.

3 Comments:

At 6/01/2008 7:41 PM, Blogger OBloodyHell said...

I drove one of those suckers up to Lexington Kentucky from Florida. That lame-ass three cylinder engine wasn't all that horrible when on the flats in FL and GA, but once it got into the mountains, the downside became damned obvious with a semi barrelling up your ass and no acceleration on the inclines when passing.

I'll keep a car that gets only 25 mpg and has actual accelerating capability when doing 60mph, thanks.

There's a phrase: "penny wise, pound foolish". It applies quite effectively to anyone who buys a wheeled sewing machine.

For a year's driving at 12,000 mpy (which could be quite high, depending on your driving needs):

240 gals @$4/gal=$960
480 gals @$4/gal=$1920

I'll take the massively increased comfort and safety for the extra $960 (and that's ignoring the fact that the insurance on a newer car, with dual airbags and ABS is going to offset that).

I can see some rationale to ditching an SUV -- there is no rationale for ditching a halfway decent car for one of those things, OR a way overpriced hybrid with similar acceleration.

 
At 6/11/2008 11:33 PM, Blogger claudia said...

You must have lots of extra money to not have to worry about gas prices. That's great! You're lucky. However, many families are desperate and are looking for any way to save money at the pump. Here in AZ public transit is AWFUL! Everything is so spread-out..so driving is pretty much a must. If someone is looking for a cheap car, heck! why not try the Metro?! One look at those cars and it's pretty obvious that they are NOT vehicles to be used to drive through the mountains. It's pretty obvious! But if you're just looking for a way to get to and from work and take the kids to school...why not! I drive a Honda...always have because they're good on gas but now it costs me nearly $60 to fill up! The Geo is sounding pretty good right about now!

 
At 6/15/2008 11:57 AM, Blogger actonbell said...

I'm still driving a 1995 GEO Metro, and am very happy with it. It now costs about $30 to fill, if I let it get really low, but it lasts a long time. Oh, man, I used to fill it on $10! We took it for granted, didn't we?

 

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