Would smaller car pay for itself?? Commuting 85 miles a day in a 21 MPG car at $4/gal.?

Question

I would like to keep the car for around town (for my spouse) and was wondering if another car would pay for itself. I can't afford much in terms of new car payments, etc. It seems to me the cost savings of a higher MPG car would kinda pay for itself? At what point does it make sense?

Answer 1

Do the math. You are paying 85mi / 21 m/g = 4 gal

4 gal x 4$/gal = $16/day

$80 per week or $4000 per year.

If you get a new car that gets 30 mpg, that would cost $2800, so you save $1200 per year.

So if you spend $10000 for a used car, it would pay for itself in 8 years. Doesn't sound good to me.

If you drive very conservatively at low speeds and buy the right car, you may get it up to 40 mpg. That will cost $2100. Saving of $1900 per year. A $10000 car will be paid for in 5 years and a bit. Still not too good. Plus the maintenace costs for the second car.

I don't know how you drive, but perhaps you can bump your mileage to 25 mpg, and that will save a lot.

Answer 2

I drive a 06 Altima, and I have a long commute.  I slowed down from 67 to 55 and found my MPG went from 29 to 35

I was astounded !

That's a savings of 20% which may not sound like much, but at $4.50 a gallon, saving 20% is like paying $3.60

At $4.00 per gallon (in your case) it would be like paying $3.20

At 55 you get a lot of interesting gestures from other drivers, but at $75 a fill up I say s***w THEM

I got nearly 570 miles off one 16 gallon tank, beats buying a new car !

Try driving your regular speed, set your odometer, see how far you go on a tank, then try it again at 55 - you might just be amazed !

Answer 3

You haven't given us enough information to figure it out, but you can do the math.  In all likelihood, you will find that a smaller, fuel efficient car that gets 30-35 mpg will pay for itself within 4-5 years.

Answer 4

Just have to do the math man.  If you got a toyota echo you would about double your mpg thereby cutting your gas bill in half.....BUT, dont forget sales taxes, license, tires, oil changes, and insurance that will all eat away at the savings

Answer 5

only $4 a gallon, your lucky, in england were paying £5.50 a gallon thats $11 to u.

Answer 6

My 94 civic can get 41 MPG (on the hwy).  And the car would not get more than few grands if I had to sell it.

so yes it would pay for itself - if you bought a reasonably priced car.

Good Luck...

P.S.  It is rock solid - I drove it from NYC to Chicago and back (1600 miles in 2 day), over my 2000 Audi A4. Yes I trust it (Civic).

Answer 7

It's entirely feasible.  Case in point my Taurus got 24mpg and my GMC got about 14-16mpg on the highway.  I bought a Hyundai Accent for $1k that gets 40mpg so with a difference of 16mpg at $4 a gallon in gas driving 86 miles a day I figure the car will pay for itself in a year - not including cost of maintenance.

Just do the math and shop wisely.  Doing your own maintenance helps keep the overhead down.