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At $5. per gallon it is still too steep. If you drive 12K per year with a car that averages 48MPG (my VX's lifetime avg) you would save $625 per year over a 32MPG car. It would take nearly 5 years to save the extra $3K premium the new owner tacked on to this particular car. That's without considering the depreciation you would experience on the VX after reaching (the less than unicorn status) 127K miles.
Part 2:
Most people buy an economy car in addition to the old family mobile. That means instead of saving on insurance they would just add another car to the policy further reducing the benefits of the fuel economy.
The car I sold a few months ago was a much better deal. It went for $2800. and had 92K miles on it. The rate of payback will be much quicker.
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