Replacing your low milage vehicle to save money???

Discussion in 'TM Lounge' started by bandman, Oct 11, 2005.

  1. bandman

    bandman Forte User

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    Oct 16, 2004
    Lafayette, LA, USA
    Have you considered trading in your gas-guzzling vehicle to save money on gas? Well, if you’re going to do it for the environment then do it, but if you’re doing it to save money, consider these figures.

    I drive a Nissan Frontier Crew Cab truck that gets about 18 MPG. I like a large vehicle for comfort, and I like having a truck as a second vehicle. But being money minded I thought about getting rid of my truck to save money on gas.

    I looked at the Honda Civic Hybrid, rated at 47 MPG. It is much smaller, and not a truck when I need a truck, but I was interested in doing the right thing. Then I sat down with a calculator and learned the following:

    My Frontier costs 15.8333 centers per mile to run (just considering gas) where a Civic Hybrid would cost 5.9375 cents per mile, for a difference of 9.8958 cents per mile. These figures are using $2.85 as the price of gas.

    My 2002 loaded out Frontier is worth about $11,000 as a trade-in, and the 2005 Civic Hybrid sells for $21,450 with no fancy trim. That leaves $10,450 as the difference in buying the Civic as a replacement for my truck.

    Using those figures it would take 105,600 to pay for the new vehicle in savings at the gas pump. Considering I drive about 10,000 miles per year (or less) in my second vehicle it would take me over 10-years save enough money to pay for a car that for my purposes is less comfortable and doesn’t do all the things I need it to do.

    When I buy my daughter a car in a few years I have no doubt that I’ll be looking for a car with a good safety rating and as high an EPA rating as possible. But to replace a car that you currently own to save money due to the new high gas prices, use a calculator and figure out just how much you will really save. You might learn that you will not save anything at all.
     
  2. Mikey

    Mikey Forte User

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    Oct 24, 2003
    Ralphie Nader is going to hate you.......... :cool:

    But I agree, and I've done the same math.
     
  3. Mr. Semman

    Mr. Semman Pianissimo User

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    Jan 5, 2005
    West Brookfield, MA
    I agree with Bandman,

    Additionally, if you drive slower, your gas mileage increases, which saves you money. I found that by driving 60mph on the highway and using my cruise control, that I can save about three gallons per fillup, which equates to almost $9 per tank. I also found that I need to fill up twice per week instead of three times.

    This way, I can keep my Ford Ranger, which I need around the house, and still stick it to the gas companies. If enough people do this, the price of gas goes down. If we continue after the price of gas goes down, there will be less dependance on foreign (read middle east oil), and there will be an oil glut, which means the price of crude oil goes down. It will be a domino effect in reverse.

    Gary
     
  4. Alex Yates

    Alex Yates Forte User

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    Aug 11, 2005
    Atlanta, GA
    My car Shira

    I have a '97 Acura Integra that still runs great and gets good mileage. I plan on keeping it in good running condition too! She has 118,000 miles behind her and still has good pick-up, cosmetically nice.....all of the bells and whistles still work (auto windows, sunroof, CD player, etc) and still quite capable of getting speeding tickets. LOL. As much as a new car would be nice, it is one of the luxuries I choose to pass over for now as long as the car I currently own keeps treating me right. Heck, it's paid for.....can't go wrong there either. I am still in shock every time I fill up my little ten gallon tank and it costs almost $30.
     
  5. trickg

    trickg Utimate User

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    Oct 26, 2003
    Baltimore/DC
    I have a 2000 Ford Ranger w/V6 that rolled over 100,000 miles yesterday.

    It still runs great, gets ok gas milage and it's PAID FOR.

    I have no intention of selling it or trading for something different, no matter what gas mileage it gets.
     
  6. Tootsall

    Tootsall Fortissimo User

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    Oct 25, 2003
    Yee HAW!
    Even Toyota executives admit that it takes about 10 years to pay off the difference in capital costs through fuel savings with the Prius. They stated in a TV interview that I happened to catch that their real goal is to keep the "Toyota" brand name in the front of the environmentally-minded purchasers minds while continuing their technical development in the efficiency race. I've ridden in a Prius (they use them for taxicabs in Vancouver) and the mileage is better in the city than on the highway where the driving is 100% powered by the gas engine.

    The savings come about through the ability to regenerate the energy lost during braking/coasting and the fact that the average speed is lower in the city than on the highway therefore requiring less horsepower.

    Still, as gas prices climb, the savings to be had by driving a smaller vehicle WILL continue to increase. I recently traded my '95 Bonneville (that was averaging 32 mpg Imperial but had 210,000 miles on it) for an '05 Camry that is returning 36 mpg (again, Imperial). NO loss in comfort (actually the Camry is a bit better for tall people), not much loss in power (really only noticeable when hauling a canoe on the roof and the trunk full of camping gear while climbing mountain passes.... or trying to pass a semi-double trailer combination). So "going smaller" isn't always a bad thing (I recently told my daughter to buy the "smallest and most economical car you feel comfortable and safe in on the highway").
     
  7. rjzeller

    rjzeller Forte User

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    Rochester, MN
    Chalk me up as one of those "evil" SUV owners. But I won't get rid of it. It's got its share of maintanence headaches, but I love the way it drives and it is a very practical vehicle for me.

    I've done the same math, and also see no point in parting with my Jeep.

    If you want to save money, follow the admonition already given here. Slow down, plan your trips so you have less driving around, and above all, keep your maintainence up to date.

    I recently replaced a bad thermostat (I mean...BAD...too bad I didn't notice until it got cold out here just how shot that thing was). The old thermostat was stuck completely open. I put a new on in and now the Jeep is getting about 20-30% more gas mileage.
     
  8. Mikey

    Mikey Forte User

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    Oct 24, 2003
    My wife and I feel the same way. Both our vehicles 1995 and 2000 Tauruses are paid for, neither burns any oil, and we get around 30 on the freeway. Sure, a Toyota Prius would be great, but at what cost?

    However, being a homeowner, my next vehicle will be a truck. And to he** with the cost.
     
  9. bandman

    bandman Forte User

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    Oct 16, 2004
    Lafayette, LA, USA
    I'll add one more to his list. Use http://www.gasbuddy.com/ to find the cheapest gas in your area, or on your route. If you look up the location of a cheap gas station and plan your stop while on your route you will save a few dollars.

    I use this religiously and plan to make my stops for gas at the cheapest station on my route that day. It doesn't pay to go out of your way, but it does pay to know where you will be stopping rather than just taking a chance.

    One local station that has a casino attached to it was selling gas this weekend at 30 cents below all the others. I went to fill up, and did not go into the casino, so I saved about $6.00 on that fill up.
     
  10. Jarrett

    Jarrett Piano User

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    Nov 11, 2003
    Richland, MO
    Buy a motorycycle. I kept my 2004 F-150 Lariat and bought a bike to ride to work. I get around 50 mpg and can go between 200-250 miles per tank.... which means it costs around 25 bucks to go as far as my truck will go on it's 70 dollar per fill-up tank.... Saving quite a bit of money.... it's pretty nice :) Especially for 800 bucks....
    Oh, my car gets worse gas mileage that my truck..... 92 Mustang 5.0
    -J
     

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