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Thread: Is that all?

  1. #1
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    Is that all?

    DH has been talking about buying a newer, give-better-mileage car - -

    I think the vehicles we have are fine - they are paid for, still look decent, and run well. They are all over three years old (and nowhere vintage age!) -

    Anyway - I'm going to make the example kind of excessive for the purpose of the discussion

    If we drove 15,000 miles in a year

    at 20 miles per gallon, it would take 750 gallons
    750 gallons at $4.00/gallon = $3000

    at 35 miles per gallon, it would take 428.57 galling
    428.57 gallons at $4.00/gallon = $1714.28

    $3000.00 - 1714.28 = $1285.72

    Is it worth getting a new, more fuel-efficient vehicle?

  2. #2
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    I think it would depend on where you live. In Canada, my car has to pass an emission test every few years. If it doesn't pass you have to make repairs until it will pass in order to have it on the road. Sometimes the repairs can get expensive. If you don't have to pass emission tests than run it until it dies or is too costly to keep running.

  3. #3
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    For me, it would depend on what kind of financing, if any, were involved. Depending on interest rates and duration of loan, you might not be saving any money for several years. Unfortunately I think gas prices are going to continue to climb. It might be better to wait until there's more of a disparity in fuel pricing??? JMO

  4. #4
    Super Member decky's Avatar
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    That is one tough call to make. My husband has a Buick Century that he drives for his everyday car, it gets around 30 mpg in town. But and I mean a big BUT it has 250,000 miles on it, all the lights that tell you something is wrong is on. I told him if they go off he has to start worrying. He has another newer car but very seldom drives it as he doesn't get the mileage as the old car. He has to decide on getting rid of it or wait until it dies on him. Then he would have to have it hauled to the junk yard or he can get rid of it now and make a little money on it.

    Pat in MN

  5. #5
    Super Member carrieg's Avatar
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    NO! Not until you need to replace what you have. Going cheap, buying a $15000 replacement vehicle, if you could get a 35mpg car for that, it would take 11.5 years before you recouped the extra you spend based on your example.

    DH & I have gone over this a lot. That's why our newest vehicle is a 2008. Why go into debt for several thousand dollars to save <$2000 annually? That's based only on math. If you want to get into non-math reasons, like being green, get a bicycle. LOL
    Carol in Michigan

  6. #6
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    Quote Originally Posted by carrieg View Post
    NO! Not until you need to replace what you have. Going cheap, buying a $15000 replacement vehicle, if you could get a 35mpg car for that, it would take 11.5 years before you recouped the extra you spend based on your example.

    DH & I have gone over this a lot. That's why our newest vehicle is a 2008. Why go into debt for several thousand dollars to save <$2000 annually? That's based only on math. If you want to get into non-math reasons, like being green, get a bicycle. LOL
    Thank you for providing 'the rest of the argument' for me - - - I was 'almost there' with it, but you finished it up for me!

  7. #7
    Super Member ptquilts's Avatar
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    don't forget a newer car will mean higher insurance costs too.

  8. #8
    Super Member seamstome's Avatar
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    We argue about this alot. My hubby drives 40K a year with gas at 4 a gallon here. No way are we buying a new 35K car to depreciate it down. Buy something in the 15K range and drive it til it drops.

    His car has 250K miles on it. The air doesnt work. I am going to swap him my car this summer. I drive 14 miles to work and can do it without air. He drives 135 miles a day. Hopefully this will buy us one more year.

    They keep promising that the train terminal will get moved to our town. In which case, he could drive (or walk) about one mile to the train, park for free and walk 20 minutes when he gets at the other end then reverse it at night. Now he has to drive 20 minutes to the closest commuter train station, pay $5 to park, ride 1 1/2 hours on the train, walk 20 minutes and reverse the whole procedure at night.

  9. #9
    Moderator QuiltnNan's Avatar
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    i was just going to say what ptquilts said. for my use, i only get 12mpg around town and 22mpg on a trip. but i only drive about 6000/year. my 'savings' would only be $1200/yr also. i've been dying for a Prius for the last 10 years. i don't think i can justify that on a fixed income. i guess i might gift myself if i inherit any money... but i can't think of anyone that would leave me that much money
    Nancy in western NY
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  10. #10
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    Save on gasoline to have more$$$$$ for Fabric!!!!! Hugs

  11. #11
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    Not to me! If the monthly gas cost exceeds the cost of a monthly payment and increased car insurance (new car), then, no, I wouldn't spend the money.

    If, however, you can pay cash and can live without the money paid for the new car, then, while I still wouldn't want to buy a new car, I can understand his desire for a new car.

  12. #12
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    I agree with you! Having said that, we just replaced my DHs old 1998 Nissan Quest with a 2011 Dodge Caravan that only had 18,000 miles on it. Technically, we didn't need it, because the Quest ran fine; engine is in great shape.

    However, the Quest does have over 130,000 miles on it and the axles needed to be replaced.

    Plus, I get nervous driving a car with 130,000 miles on it.

    My DH, on the other hand, thinks that the more small (not life threatening = small to him) and very annoying things wrong on a car, the more character it has. He gets to tinker with it and develop 'Rube Goldberg' work arounds for those small things.


    We got the axles replaced on the Quest for $600. Less than a week later my DH heard a clunking noise from the front end. He checked it and found that the steering had rusted away from the body of the car. I am not sure that can be fixed, but he has finally fallen out of love with it. And I am very glad we bought the Dodge Caravan in time for the summer traveling we do with our 'Grands'.

  13. #13
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    Suggestion: Start saving the maximum amount you think you can handle for a new car payment out of your paychecks now. That way you will know what you can comfortably pay monthly before you make a commitment and have to pay. Plus you will have saved a decent down payment.

  14. #14
    Super Member barri1's Avatar
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    I have thought hard on whether I want to replace my car, and realized I love it, and haven't put money into it.. It's a 2000 Lexus Rx 300. It only gets 19 mpg in town, and 24 on highway. It's got 99,000 miles on it, but it humms, and makes me happy..

  15. #15
    Super Member Boston1954's Avatar
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    Will the insurance be the same for the new vehicle? When I was paying for my truck, it was much higher than when it finally (5 yrs) got paid off.
    Life is not a movie. No one is going to yell "CUT" when you make a mistake. - Anne L. Fulton

    I am from the South....39 miles south of Boston.

  16. #16
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    Personally, I drive my cars until they won't go anymore, we only buy used cars and pay cash, to us, buying a new car is a waste of money, the minute you drive off the lot, that car has lost thousands in value, in addition to the fact that with the exception of a very few models, I don't like NEW cars and it seems they get uglier and uglier, at least to us they do.

  17. #17
    Power Poster Jingle's Avatar
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    I figure one can buy lots of gas with the new payments. I drive a 4x4 Silverado Crew Cab Truck. No way am I giving up my truck to save gas. We only goshort distances and mainly back and forth to work.
    Another Phyllis
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  18. #18
    Super Member ube quilting's Avatar
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    Don't forget about a car payment, interest and, Higher insurance to add to the numbers.

    peace
    no act of kindness, no matter how small, is ever wasted. Aesop

  19. #19
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    DH sometimes dislikes having his opinions confused by facts!

  20. #20
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    I drive a 15-year-old Volvo wagon I bought used; it has 124K miles on it, so you know where I'm coming from. My thoughts when I read your posting were:

    1. Will you pay cash or finance? If you finance, you have to include interest in your calculations. Better to start saving now and buy only when you have saved enough to pay cash.

    2. If you cars are really young (you said they are more than three years old, but three years is practically new,) you probably won't need any major repairs for a long time. But if you do anticipate repairs of more than $1500 or so in one year for one car, that goes into the calculation too.

    3. You estimate savings of about $1200/year; that's just $100/month. If you finance a new car, your gas savings will only cut your car-related costs by that $100/month, but you will still be out of pocket more than you are now. Granted, you will still have the car when it's paid off, but think of other fun things that $$ could have purchased while you were using it to pay for a car you didn't really need.

    Good luck with whatever you decide.

  21. #21
    Super Member LynnVT's Avatar
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    We lease a Prius and get about 50 miles to a gallon. Leasing a new car is actually financially sound, especially if you don't like surprises like hundreds of dollars of necessary repairs, and if you can't fix it yourself. The environment is an issue to some of us, but don't flame me if you disagree on that.

  22. #22
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    DH purchased my "04" Jeep Grand Cherokee Laredo in 2010. We traded our "87" suburban we had for 9 years. It started leaking in a couple spots and we had to replace the steering column. A few other things were starting to add up. We got a $3000.00 trade in for it. I like my Jeep. We just don't like payments. One more year and this is ours. I didn't think my suburban got bad mileage (9-10 in the city) 15-20 highway. We keep our eyes open for the best prices. You can add the cost of a payment for an extended amount of time on top of that also. Still with trade-in and end purchase price. Don't forget to add insurance. it almost evens out. Just not having to make another car payment would settle it for me.

  23. #23
    Super Member Caswews's Avatar
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    That is the reason we bought a Hyundai Veloster (6 speed manual transmission); gets up to 47 mpg on trips and runs about 30-35 mpg in city. Its now 2 years old and just fine with us- We have a truck and it gets 17 mpg -20 mpg unless we hook the trailer up. So the Hubs drives my little car back and forth to work, and the truck sits. Which is fine saves us $$$ on fuel (3.65 a gallon here). Doubt if its ever really gonna go down to the fuel prices when I started driving of .35 per gallon, or if the price of a car will ever go down either.
    When Life brings big winds of change that almost blows you over.Hang on tight and Believe.
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  24. #24
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    I drive a 1999 Olds 88- paid off. 30 mpg in town and 36 highway- During that 'cash for clunkers' I went to check out some of the newer cars and the salesman told me to keep my car that I get better mpg's then anything on the lot and if there came a time for even major repairs mine would be cheaper to repair then any of the newer models.Especially the Hybrids. So I still have my Olds. So far the only problem I've had with her is finding her in the parking lots. There are way to many white cars out there..LOL

  25. #25
    Super Member Lisa_wanna_b_quilter's Avatar
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    We bought the Prius in 2007 knowing that mathematically it didn't make as much sense as a cheaper car. Our thought was someone has to buy the new technology in order for it to grow and become cheaper. (Think about home computers in the early 80's. If someone had not paid crazy money for them, we would be here today!)

    We have had zero problems with the Prius and it now has over 100,000 miles on it. My husband drives it 40 miles each way to work every day. He will drive it until I drops over dead. Our truck has is a 1991 with 200,000 + miles on it and our van is a 2002 with 160,000 miles. There are no plans to replace them. When the van drops dead, I will be replaced with the highest mileage vehicle we can afford to pay cash for.

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