[DeTomaso] NPC fascinating "financial planner" view of the SUVvs. gas-efficient car argument

Will Kooiman wkooiman at earthlink.net
Sun May 8 10:31:32 EDT 2011


We did the same math about 5 years ago when we bought a Honda Insight.

Even at 60mpg vs. 20mpg, it takes a lot of miles to justify buying a car,
just for the MPG savings.

Our Insight averaged over 70mpg when new, but it has dropped to about 54
avg, probably due to a worn battery.  It was $20K new.

We justified it because we needed a third car, and when we go on road trips,
we would normally rent an econobox, anyway, so we may as well have one in
the driveway.

Our Insight is the cheapest car I've ever owned.  It isn't just the gas
savings.  I've changed the brakes twice, and each time it was about $20.
Oil changes, even with 0w20 synthetic is about $20.  Tires are cheap too.

But... even at that rate, it still takes over 100,000 miles to justify
replacing a good working car, with a brand new hybrid, simply for the cost
savings.

A better choice would have been a fun car with good mpg, like a C5 Corvette.
I would much rather have 30-35mpg in a fun car, than 50-60mpg in a car that
is slower than my cousin Ernie.

-----Original Message-----
From: detomaso-bounces at realbig.com [mailto:detomaso-bounces at realbig.com] On
Behalf Of MikeLDrew at aol.com
Sent: Sunday, May 08, 2011 9:04 AM
To: chrisvkimball at msn.com; detomaso at realbig.com
Subject: Re: [DeTomaso] NPC fascinating "financial planner" view of the
SUVvs. gas-efficient car argument

I knew this intuitively, but first read a rational analysis in Road & Track 
a few years back; I think it was Peter Egan's column?   It arrived at 
almost exactly the same conclusion.

What the article fails to mention is that the cost savings become 
exponentially larger the longer you hold onto your old car.   Even factoring
in 
increased maintenance, it's still far cheaper to drive an older, paid-for
car 
than to buy a new one, especially considering that new cars cost more each 
year.

That's one of the many reasons that my newest car was built in 1981.   And 
my mom's newest (and only) car was built in 1965!!!

Mike
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