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Boost Your Fuel Budget by Not Buying a Fuel Efficient Car

Dan Morton
 


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->Do you get angrier each time you fill up your SUV with gas, imagining dollar bills with wings flying out the windows as you gather the little ones. from their soccer matches
? Do advertisements of hybrid cars fill your nights with teasing visions of $40 monthly gas bills, only to awaken to the view of the old-fashioned behemoth parked in your driveway? You're not alone in your thoughts, as gas prices chug past $4.00 per gallon, desperate
people are throwing premium dollars at anything with wheels that will save a buck or two at the gas pumps, without considering the TOTAL cost of the deal. In other words, despite what “conventional wisdom” is shouting in your face, you probably will come out money
ahead by keeping your gas guzzler and NOT chasing a vehicle with high mpg numbers.

Do you get angrier each time you fill your SUV with gas, imagining dollar bills with wings flying out the windows as you gather the little ones from their soccer matches ? Do visions of hybrid cars torment your dreams with teasing promises of $40 monthly gas bills, only to awaken to the view of the old-tech behemoth parked in your driveway? You're not alone in your thoughts, as gas prices chug past $4.00 per gallon and desperate people are throwing premium dollars at anything with wheels that will save a buck or two at the gas pumps, without considering the total cost of the deal. In other words, despite what “conventional wisdom" is shouting in your face, you probably will come out money ahead by keeping your gas guzzler and not chasing a vehicle with high mpg numbers, at least for a while.

Referencing a recent Consumer Reports article, their studies show that even if gas were to reach $5.00 per gallon, “the fuel savings from trading trading in a three-year-old large vehicle that's not yet paid off likely won't make up for the hidden costs of vehicle ownership - depreciation, interest on financing, insurance costs, maintenance and repair and sales tax, for example. " In other words, you would actually end up spending more money in the long run chasing a lower fuel bill. Small cars that get good gas mileage are selling at a premium, with prices for tiny cars like the Toyota Yaris up more than 7% in a year. And, your gas guzzler trade-in value is dropping like a stone. Says Larry Antonucci, sales manager at Rohrich Toyota in Dormont, PA, "We're seeing a lot of people with gas-guzzlers trying to trade them in but they're not going to get much. I'm almost embarrassed to tell them what they're going to get, " SUVs that originally sold for $40,000 three years ago are now only bringing $12,000 to $14,000 in trade (information courtesy Pittsburgh Post-Gazette).

The best advice in situations like this where hysteria has taken over for rational thought is to hold on until the crisis has past. Make no purchases or take any action based on emotion. Gas prices may never return to the levels seen in years past, but the market for fuel efficient cars will stabilize as manufacturers rush more small cars to the market to meet demand. No one knows what the future holds, but we do know a thing or two about the present. And, by reacting rationally, with thought and patience could save you and your family a lot of cash.

Dan Morton is a car enthusiast, author and internet entrepreneur. Visit his unconventional car site, http://www.RodnClassic.com

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