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Re: Oil hits $114/barrel - No end in sight.
Now $130/barrel, a 14% increase in one month. Wholesale vehicle auctions are clogged with big SUVs and pickups, as are dealer retail lots. I recently read a post by someone in the vehicle financing business that said they're now deluged with repossessions where only one or two payments have been made and in spite of putting the vehicles on retail lots at under wholesale prices to move them, no one seems to want big SUVs or big pickups at any price.
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