Trade in 2007 Saturn Outlook for Mariner Hybrid?

Question

So this is the situation. I get about 16/18 with my Saturn Outlook FWD. Although the gas savings are a definite consideration, that's not the main reason why I want it. If I buy a hybrid, I can get into the carpool lanes without having to pick up strangers (slugging). I live in Woodbridge, and go to school in DC. I have 2 years of undergrad left, then 4-6 of grad school (all in DC). My Saturn is worth about 22K, but I owe 26. I know negative equity isn't great. But it's too expensive and time consuming to make the commute to DC back and forth. My children go to school here. If I move closer the rent is astronomical. I've heard the Mariner is the best deal for SUV hybrids. Opinions here: Do you think buying the car is worth it. I'm thinking that the negative equity is offset by gas savings, time savings and possible rent savings (Don't pay any rent in Woodbridge, would have to pay anywhere from 300-1000$ extra to move closer to DC)

Answer 1

Nah, leave it alone, you don't want to go upside down on a loan. I commute from Woodbridge to DC too (we probably know each other!), but I slug some days and take the train the other. Also, they changed the rules for hybrids in the carpool lanes. You can't in there anymore with the new hybrids (sucks I know). And going from an outlook to a mariner is a huge space sacrifice.But I can see why you dont' want the tahoe or yukon hybrid (super duper expensive). take the train, it's not a bad ride, and you can buy the monthly ticket for the VRE for a little less than 200$, which sounds like about what you'd be spending in gas newayz, only this way you don't have to sit in traffic

Answer 2

Mariner Hybrid gets 32mpg combined vs. your current car's 19mpg combined.  If you drive 10,000 miles a year, you will save $855 a year in fuel costs if gasoline is $4/gallon.

Problem is, you are upside down on your current car loan by $4000.  And that Mariner Hybrid is going to start at $28,150.  Assuming you can get the full $22K Kelley Blue Book value for your current car to put towards your new purchase, and you collect the $3100 Federal Tax Credit on the Mariner Hybrid, you are still in the red by $7,000.

So you need to decide if the gas savings, not having to move and pay rent, and the intangibles (time savings in the HOV lanes) justify that extra $7,000 expenditure.

If it does, go for it.  If it doesn't, keep driving your current car.

Hope this helps.

Answer 3

DO NOT make one mistake worse by making a second mistake on top of it and burying yourself deeper into a money pit. Right now you owe even more than the $4000 you believe you're upside down. Trade in values on ALL SUV's have taken a huge hit. The market is very soft and most SUV owners are finding they're getting anywhere from $2000 to $10,000 BACK of blue book on a trade in!

This means you'lll most likely get about $16,000 to $18,000 in trade-in value.

Anytime you are upside down on your current car, it's just plain stupid to trade it in and "roll" the negative equity into the new car. Because now you are paying interest on your new vehicle as well as on the balance of your old vehicle, which you no longer have. And you'll be upside down for even a longer time in the new one. Probably until the car is paid off in 5 or 6 years.

Forget the hybrid. it doesn't make sense for you. The money the Saturn trade-in will cost you far outweighs any MPG savings you'll have.

Answer 4

Welcome!,

When you modify your wheels to run on water as additional energy source  you just set yourself to improve mileage  - and help with greenhouse effect.

There is convertion guides on the internet but Regrettably they provide deceptive ebooks.

I own a 2005 Chrysler Van and I get almost 42 mpg. I recommend you look into

http://elfurl.com/regzh

  

Their review of information is the best.

Have a great day,