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Metro resale value at $6 per gallon
Topic Started: Nov 20 2010, 10:39 PM (983 Views)
dayle1960
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Fastest Hampster EVER

So if someone were to purchase a metro for $300 and it was in good shape, and the new owner puts a few repairs in it to bring the car back to life, then how much would that car be worth if the price of gas get to $6 per gallon?
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Stately
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Metro in good condition is $1500-$2000 around here now. +$500 if gas jumps, IMHO.
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Coche Blanco
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Depends on what someone is willing to pay. It also depends on how long it takes for gas to go to 6 dollars.
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mjspiess
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It just depends on how much someone is willing to spend. It's really hard to say because people have so many different variables running through their heads when it comes to spending money on a car. Here are a few articles on the $7,200 '93 Geo Metro XFI with 22k miles:
http://blogs.automobilemag.com/has-the-world-gone-mad-for-the-geo-metro-427.html
http://usnews.rankingsandreviews.com/cars-trucks/daily-news/080522-geo-metro-madness-hits-high/
http://www.autoblog.com/2008/05/16/geo-metros-going-for-big-money-on-high-gas-prices/4

If I had to guess though, you'd prob. get a pretty good surprise since when this one sold, gas was $4-$5/gal.
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allmountain40
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Yeah, I remember that lady. :drool When gas got up to 4 dollars a gallon they were going for ridiculous amounts. But $7200!?! :banghead The guy that sold that laughed all the way to the bank. :lol If it hits $6 a gallon you could probably get around $3000 if you had a newly rebuilt engine and it was in good shape. More if you could find a sucker like her.
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91 ragtop
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I sold three Metros in 2008 when gas was $4.25 a gallon for an average of $3400 each. I rebuilt the engines, put in a new clutch, new tires, sandblasted and repainted the hubcaps , usually a new windshield, pressure washed the carpet and detailed the interior. The average price on e-bay was around $3500 and when I got one ready to sell ,it never took more than a week to sell it. I think (but hope that it never goes that high)that at $6 a gallon any car that can get 50+mpg will be able to bring 4-5 grand easily.
Ken...
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Murf 59
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Like was metioned above. What ever the market will bear. When something is sold or traded. Both parties would not enter into an agreement if they, each did not think they were getting the better part of the deal.
I talked with a nice couple two days ago on the beach here. They had a 95 up 3dr, 5spd car. Looked great. They paid $1500, and still had to put another grand into it. But it seems to be a very sound car now. If they stop letting their daughter drive it. I told them about our site here. I hope they take the time to log on.
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