Keep or sell gas guzzler 'because its paid off'

[redpoint5]

Originally Posted by euromodder

You could move here and enjoy $9 gas and $3 drafted Stella's

Stella is just barely better than Budweiser, so I'm not willing to pay more than about $0.60 from a grocery store or more than $2.00 at the pub.

I'm sure I will be enjoying $9 fuel sooner or later. I'll likely be adopting electric vehicles before the majority of consumers in the U.S.; once they become economically advantageous to own.

Originally Posted by RobertISaar

my cars aren't worth a damn, so that path is pretty much non-existant.

using the insight example from the article:

$5000
EPA rating of 59 highway(using newer MPG ratings)

i MIGHT be able to sell the MC for $1000.

so $4000.

8000 miles/year at 59MPG = 135.6 gallons X 3.70/gallon = $501.72 gas/year.

7.97 years to make up the difference.... still not the "Switching from an SUV to a car, will save you enough to buy a new luxury car every ten years, or an excellent used car every four years." but i'm also not doing SUV economy....

Your math is wrong.

MC fuel cost = 8000mi / 30mpg = 267gal * $3.70/gal = $987
Insight fuel cost = 8000mi / 59mpg = 136gal * $3.70/gal = $502

Yearly fuel savings with Insight = $987 - $502 = $485

Break-even time is $4000 / $485 = 8.25 years.

But, you are using your own fuel economy for the MC, and the EPA for the Insight. Obviously you will get better than EPA in the Insight, so your break-even time will be even shorter than the 8.25 years.

18MPG with a SUV seems reasonable, it's actually slightly less than what my dad achieves with his 99 yukon.

18MPG/8000 miles = 444.44 gallons X 3.70 = $1,644.44 a year.

the SUV will almost certainly be worth more than the $1000 my car is(for reasons i don't quite understand), but let's say $3000. so there is a $2000 gap to make up. takes 1.2 years to recoup the cost and make money off of this, assuming your tasks don't require anything more than an insight.

after 10 years, you'll have saved $11,427.20, which while it is an impressive amount, it is NOT a new luxury car every 10 years. and if you're buying lux cars, how many of them get anywhere near the fuel economy you would have to achieve to make this up?

Yukon fuel cost = 8000mi / 18mpg = 444gal * $3.70/gal = $1,644
Insight fuel cost = 8000mi / 59mpg = 136gal * $3.70/gal = $502

Yearly fuel savings with Insight = $1,644 - $502 = $1,142

Break-even time is $2000/ $1,142 = 1.75 years.

This all assumes fuel will average $3.70 over the years, which is very unlikely.

[Flakbadger]

I have to say that I've had many of these debates with my parents, who initially criticized my decision to buy a smaller car, then proceeded to mock me for being excited about MPGs.
I went from 16 avg to 40+, a paid-off truck to a financed car. As I mentioned in a previous thread I MADE MY CAR PAYMENTS IN GAS SAVED and still kept $100.

Meanwhile they continue to insist they "can't afford" a newer vehicle and drive their 1997 Ford Expedition (<14 MPG). It doesn't help that my mom has been hit by the American "you must drive a vehicle the size of a tank to be safe" stigma.

Sigh. You can't win 'em all.

[Gealii]

Originally Posted by Flakbadger

"you must drive a vehicle the size of a tank to be safe"

When in reality it makes it unsafe for everyone else when their bumpers go through our side windows. Don't get me wrong i'd love to have a truck rite now but it would only see an actual 50 miles/month and thats only in the summer.

[RobertISaar]

Originally Posted by redpoint5

Your math is wrong.

see below

Originally Posted by redpoint5

But, you are using your own fuel economy for the MC, and the EPA for the Insight. Obviously you will get better than EPA in the Insight, so your break-even time will be even shorter than the 8.25 years.

using the numbers i have achieved/recorded, all of my math is correct. i tend to achieve roughly the EPA highway MPG rating in mixed driving, so that's the value i used for the insight, since i have no personal experience with them.

Originally Posted by redpoint5

This all assumes fuel will average $3.70 over the years, which is very unlikely.

true, and with higher costs, the gap between an already paid for, lower-MPG vehicle and one which you do not own and have to purchase will become less significant...

but as for the predicted price of fuel, you never know.

[redpoint5]

Originally Posted by RobertISaar

let's say i wanted to step up to a ~2013 Cruze Eco, since i'm fond of them and it will do what i need it to. and that i achieve it's highway fuel economy rating with my route/habits(42 with the manual, BTW). runs on regular grade gas, just like the monte. assuming i drive the same 8000 miles, that's 190.5 gallons of gas, so $704.85 yearly fuel cost....

so i save 298.59 a year in fuel costs..... but the MSRP of the Cruze Eco w/manual is 20,475 according to the chevrolet website... i would have to own/operate the cruze for 68.57 years to make back the price in buying the car.

assuming i were driving a 20MPG car, it's 26.4 years.

a 10MPG car(woof), 9.08 years.



so........ good luck justifying a new car based on fuel savings alone.

Again, if you get better than EPA in your MC, you will get better than EPA in the Cruze.

The article also says you are making a poor financial decision if you are buying a new vehicle, and still making a poor financial decision if buying from a stealership. Nowhere does the author recommend you run out and buy a new economy car of your dreams.

You can pick up a 2005 Toyota Corolla with 84k miles on the odometer for about $5k. Then you have a car that easily does 40mpg with lots of miles left on the engine for only $5k.

Originally Posted by Flakbadger

It doesn't help that my mom has been hit by the American "you must drive a vehicle the size of a tank to be safe" stigma.

Not saying this describes your folks, but usually the people that feel like they need a big vehicle to be safe are the same people that drive in an unsafe mannor (ie talking on cell phone, putting on makeup, not paying attention). It's a very selfish mindset to put others at much greater risk to marginally increase your own safety.

My sister is a terrible driver and has caused several accidents (no injuries thankfully), but as much as I love her, she shouldn't be driving a big vehicle. Instead something small and maneuverable with lots of airbags is appropriate.

[user removed]

My 91 year old father and 87 year old mother both drive Eldorados, 2001 and 1999. They get 30 MPG on trips and neither one has been in an accident in decades, except when they were hit in the rear end by a tool truck whose brakes failed.

Thank God they were in a Lincoln Continental when the tool truck knocked them 120 feet through an intersection.

Bought one for $12k with 23k miles, the other was $6k with 60k miles. His 01 gets 4k miles a year while her 99 gets about 10k.

regards
Mech

[UltArc]

Originally Posted by Daox

Some of you are just being rediculous.

Obviously, there are monetary problems from going to a less efficient vehicle to a brand new vehicle. Buying a brand new vehicle is always the worst choice if you're looking to save money, everybody knows that (at least they should). However, there is absolutely nothing stopping anyone from buying a car of equal value that gets better mileage, and then selling their less fuel efficient vehicle. Sadly, it seems to be extremely rare that people actually do this.

I disagree with this, to an extent. My father always raised me this way. But he, nor his wife, EVER did ANY car repairs. Any maintenance.

We have A plan, and leased. Now, you did say buying, but for leasing, I m not arguing it s smarter than going pre owned, but...

Care free maintenance
Reliable car
New features every two years
Never buy tires/wipers, et cetera

For just one payment a month? If one thinks it is smarter to live in an apartment than house, they shoud be leasing, not buying.

[cRiPpLe_rOoStEr]

Originally Posted by Gealii

When in reality it makes it unsafe for everyone else when their bumpers go through our side windows. Don't get me wrong i'd love to have a truck rite now but it would only see an actual 50 miles/month and thats only in the summer.

Actually, even for the SUV drivers they're usually not the best option. More prone to roll-over and usually the roof pillars are not sufficiently reinforced to protect the passengers in case of roll-over...

[GRU]

It worked out great for me...sold my ford escape for 5000...bought a civic for 2600...put the money in my pocket and now i'm saving about 1400/year in fuel alone and can still tow a trailer and my motorcycle

[cRiPpLe_rOoStEr]

Originally Posted by GRU

It worked out great for me...sold my ford escape for 5000...bought a civic for 2600...put the money in my pocket and now i'm saving about 1400/year in fuel alone and can still tow a trailer and my motorcycle

The Escape actually doesn't seem to be so capable as a regular body-on-frame SUV, it's nothing more than a glorified minivan.