Quote:
Originally Posted by chuck92103
I don't think it is the PRICE of gas that will give wealthy people some pause.
It will the monthly operating costs of these vehicles will exceed their lease/finance payments. The first time in history where your M3 lease payment might be $1000 per month, and the fuel, insurance, tires are $1500 per month with fuel taking the largest piece of the pie.
The wealthy are not using their power boats like they used to. Living in San Diego, I see them all parked and gathering dust in the harbor.
You need to keep in mind, that when gas hits $7 per gallon several things go up along with it.
1. Transportation costs.
2. Food costs.
3. Energy, electrical, natural gas costs.
4. Water costs, uses electricity to be pumped.
$7 per gallon gas will actually cost you around $5k per year more. You just don't realize it yet.
Hawaii gets it. They are currently paying $12 for a gallon of orange juice.
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Came in to say this. People think that paying more at the pump is just one thing but it's part of a bigger equation. Very good post.