Released: July 02, 2008

SUV drivers burned twice: at the pump, on the car lot

Source: Annys Shin, Washington Post

Americans’ love affair with 22-inch rims, eight cylinders and four-wheel drive wrapped in an 8,000-pound package is over. And the breakup is going to cost.

With $4-a-gallon gas coming between drivers and their very large vehicles, consumers are dropping their once-beloved rides, fast. But not fast enough, it seems. As the price of gas has gone up, the value of sport-utility vehicles has gone down.

In the past six months, the price of a used Chevrolet Suburban has dropped as much as $8,000, said Mike Parker, manager of used-car sales at Lustine Toyota/Dodge in Woodbridge. 

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