Don't Do It For The Gas Mileage
Is gas mileage alone a good reason to buy a hybrid car?
QUESTION: Listener asks if it’s wrong to buy a car to get better gas mileage. Dave runs the numbers to show how ludicrous this idea is.
ANSWER: Why would you sell a $10,000 car and spend another $15,000 on top of that to buy a hybrid car to save on gas? To get your money back at current gas prices, just going from 15 miles per gallon to 25 miles per and driving 100 miles a week, that would save you $10 a week. To get back your $15,000, it would take you almost 29 years! Does this make sense to you, because IT’S DOESN’T TO ME!!! People have lost their ever-loving minds if they think this is smart.
I’m all about saving on fuel. But you don’t go $15,000 into debt or spend $15,000 in cash to save $10 a week. It’s not about the gas, it’s about you wanting a new car and wanting to be cool by buying a new hybrid. Those things will go down in value rapidly.