Strollerderby

Wanna Save Money? Keep Driving the Gas Guzzler

Posted by Madeline Holler

If you are thinking about selling off the family tank in an effort to save money, you might want to think again. Some financial experts are warning that it might be cheaper to hang on to these $100-per-fuel-up, formerly fun, now just-giving-you-a-money/eco-headache SUVs and trucks.

Impossible, considering the fuel efficiency of a Prius or Honda Fit? Consider this from a story in the NY Times:

Jack Nerad, executive editorial director and executive market analyst at Kelley Blue Book, says that the rate of depreciation on large S.U.V.’s over the last six to eight months has been about twice what is normal.

Here are what experts say you should consider before posting an ad on Craigs List:

What's the true cost of the trade-in?

Is a smaller car even practical?

What's your large vehicle worth?

What's the demand for small cars now? (Spoiler alert: high!)

Is this an emotional or a rational decision?

On that last one, here's some help in determining whether the numbers work out -- a gas mileage savings calculator from Edmunds. There, you'll find it would take 15 years to break even on trading in your 2005 Ford Escape for a new Toyota Highlander Hybrid. 

Of course, money isn't everything (just most things). And maybe you've felt the call of Al Gore and would like to end your dependence on fossil fuels. Well then, by all means (and this is me speaking, not the experts), get rid of the guzzler and get in line to buy one of these.

What's your family planning to do with the low mpg roadster? Selling? Parking? Sucking it up and keeping on keeping on? 

 

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Photo: aboveallautorental.com 


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Comments

 

feefifoto said:

While you're waiting for it to become more fiscally realistic to get rid of the SUV, drive less and save money on gas that way, as well as putting out less pollution.

August 2, 2008 4:18 PM
 

WaitingforaHybrid said:

It isn't just about MPG, a hybrid vehicle also has fewer emissions.  

I bought my Saturn 11 years ago and really expected a lot more hybrid options by this point in time.  I'm hoping the car will last another year or two and then I can have some real alternatives to the internal combustion engine.

August 2, 2008 7:06 PM
 

coolteamblt said:

I've been wanting to trade in my Explorer, but I get 20-22 miles to the gallon, and I won't get crap for it if I trade it in. Plus, I can actually fit furniture and such in it if needed, which no one else I know can do. I charge friends and family $20 to shlep stuff for them, and it helps out.

August 2, 2008 7:30 PM
 

dhsredhead said:

I disagree with this. Gas is not going to get any cheaper. If a family doesn't need a big SUV and can find some money for a used or new fuel efficient car like a Yaris or Fit I say go for it. There are plenty of used compact cars that get 35 mpg and affordable new cars as well. Families need to rethink the family car. We have the Toyota Yaris. There is plenty of room for 5 adults and lots of cargo space. I have 4 siblings and my mom had a Mustang for years. I can understand the mentality that people are really using their SUVs or vans by hauling stuff around. My mother in law uses this excuse all the time. However we have a friend who just remodeled his house and used the old method on bungee cords to haul stuff on the roof of his old Mercedes. Once again my mom used this method quite a few times for moving from place to place when we owned the Mustang. We have actually moved quite a few things in our super compact car. Including a drum set and a bike. Both of which with my daughter still in the car in her car seat. Why the heck does anyone with less then 4 children need a van? Maybe they just need less stuff.

August 3, 2008 12:39 AM
 

Chris. said:

If you're trading in a perfectly good vehicle for a brand-new hybrid because of GHG emissions, think again.  The embedded energy (what it takes to make it) in a new vehicle is FAR above the saved energy from the more efficient engine.  By all means, when it is time to replace a hunk of junk, get a hybrid.  But you're not helping anything by keeping the manufacture of new vehicles going.  Buy less.  Drive less.

August 3, 2008 8:39 AM
 

Karen said:

Ever try safely shoving three full-sized carseats in a Yaris?  How about four?

August 3, 2008 9:00 AM
 

LogicalMama said:

Hybrids do have high emissions. Maybe not in the driving, but in the manufacturing of the car itself (remember only the fuel efficiency is green), but especially in the manufacturing of the batteries the hybrids use. Also, the batteries last at most, maybe 10 years and need replacement.

Check out Honda's new hydrogen cell vehicle. Honda put serious thought into, not only the fuel efficiency and emissions in driving, but also in the manufacturing every aspect of the vehicle.

August 3, 2008 3:54 PM
 

hybridmomma said:

We replaced our 11 year old car last year with an Escape Hybrid.  It gets 33 mpg city and has very low emissions.  We love it.  If we had too, I think we could get three car seats in it if we had to (though how we would reach the center kid to buckle him in I dunno) plus our pets and a bit of luggage in the back.

Our three year old sedan doesn't get nearly as good mileage and won't fit a rear facing convertible car seat in the backseat.  So for our baby due this winter, we'll need to get one of those baby bucket type car seats that you haul around.

August 3, 2008 5:50 PM

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