Newer car? Thinking about doing what I said I wasn't going to do
Ok, so the plan has been to wait and see what comes out in the next couple years and mile out the Acura RSX-S (currently 130k), then buy a new/newer higher MPG car. It's EPA highway rated at 24 combined, 28 highway and I'm currently milking about 36mpg out of it. Trade in value is about $4800. Private party bluebook is $6500 and there's a shortage of them in the Denver market to compare to (most are dealers asking $7500-8500).
I've been looking at the 40+ mpg cars and found several 2003 Honda Civic Hybrids out there for $6600-7000 with 90-120k miles on them. They're EPA rated at 41 combined, 45 highway.
Based on 2008 EPA numbers at 22k miles a year:
@$3/gallon gas I'd save $857/year
@$4/gallon gas I'd save $1142/year
Given that all used cars are a crap shoot even if you do a Carfax report (you never know about oil changes unless they produce receipts, etc), the math looks pretty good. What are your thoughts? Is the Civic Hybrid a solid vehicle? Anything to look for? I've heard they're underpowered, but I can live with that (I've owned a CRX-HF before). I'm just looking at the cost for the next 4-5 years. Even if gas stays fixed, it seems like a better option than riding this thing out for two more years in the hopes something better will come along that I'll be willing to finance. With this deal, I'd be, at worst, within a couple grand of break even and at best, actually have no net cost.
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