LOS ANGELES, CA - SUV drivers, increasingly falling victim to the bursting market bubble of the popular vehicles, are finding themselves struggling to keep their means of transportation. Faced with rising fuel prices, lengthy loan agreements, and the skyrocketing costs of rim maintenance, many SUV owners are on the brink of downsizing to smaller vehicles. Others may lose their vehicles altogether, and face the indignity and inconvenience of public transportation.
"I've still got eight years left to pay $725 a month." said James Fenwick, a local landscape helper talking about his 2008 Cadillac Escalade. "And that's just the car payment. It's another $200 a month to pay off the wheels and stereo."
Economists say James is not alone. "The dream of owning their own SUV is fading for many." said Gerald Ennis, Professor of Conveyance Economics at Howyflyl University. "With prices so high, buyers are forced to finance well beyond the expected life of the vehicle. And since the manufacturers refuse to put smaller engines in these models, buyers sometimes must choose between fuel and popular upgrades, such as on-board gaming and DVD systems."
Aggravating the crisis is the sluggish used-vehicle market. Many SUV owners, upon trying to sell their vehicles, were surprised to learn that the value of their investment had plummeted dramatically. "I borrowed $60,000 for this car just three months ago, plus $20,000 to pay off my trade-in." said Fred Huggins of his new Lincoln Navigator. "Now I can't even get half that back."
Concerned lawmakers have promised to take action to stem the growing crisis. "It's unconscionable that hard-working Americans can't afford to drive a sweet SUV." says California Senator Tim McMillan. "I will propose a bill that will require automakers to freeze their prices, give SUV buyers a voucher for $10,000 in accessories and free gas for life."
Editor's note: When asked to respond to this proposal, all of the big three American automakers declined to comment.
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