Keep SUV or Sell?

[pandapab]

I own a 2000 Toyota 4Runner and it's completely paid off. It's incredibly reliable, in great condition, and I love it, but the 15mpg is painful for my wallet and conscience.

I want to get a smaller, used car that is just as reliable. I don't have much cash on me though, and the trade-in/sell value for SUV nowadays is pretty sad. I think the most I could get for it would be $6500.

Are there any cars out there for that price that would be just as reliable and solid as my trusty 4Runner? I'm a bit scared of the unknown.

Would it make sense to take out a car loan on a vehicle that has better gas mileage when I don't currently have any car payments? That is my dilemma. I pay through the nose for gas ($300 a month) but I have zero car payments.

I guess I can just wait and save until I can pay cash for a better car too.

[khorrell]

I think that an important factor to consider is how much driving you are doing. Rough math tells me that at $300/mo, you're probably buying around 85 gallons of gas, which equals nearly 1300 miles a month.

Say you purchased a car that got 25 mpg. That same 1300 miles is going to require 50 gallons of gas, which would be just over $180 dollars at 3.50 a gallon. Changing cars would, hypothetically, save you $120 a month in gas. So, how do the costs of changing cars compare to that $120 per month?

Another factor is where the price of gas is headed. Do you think it will continue to climb, will it level off, or might it even go down?

Another thing to consider is trying to reduce your driving. If you could decrease your monthly mileage just a little bit, that would help. I know that I have been thinking a lot harder before I hop in the car.

It's a tough decision...good luck!

[lucille]

When the gas savings every month was more than a car payment was going to cost we got another vehicle as our main car. We kept the SUV but relegated it to the second car that gets less driving. Were hoping to be able to get another car with better mpg or a motorcycle or scooter to take it's place. The SUV will probably hang around for blizzards and trips to the lumber yard.

[MSMomsmoney]

I am going through a similiar dilemma right now as well.

I have 2002 Dodge Grand Caravan. It is paid for. Has 95K+ miles on it. The gas mileage stinks on it.

Im considering purchasing a Toyota Prius. Having a hard time with the fact that Ill have to make car payments again...I can trade in minivan, and put $4K down...but Ill still have car payments...

I dunno...still mulling it over.

[gt0163c]

Originally Posted by MSMomsmoney

Im considering purchasing a Toyota Prius. Having a hard time with the fact that Ill have to make car payments again...

When I was looking for new vehicles, I looked into a hybrid. Since I was mostly interested in saving money, rather than reducing auto emissions, I determined that it wasn't financially beneficial for me to purchase a hybrid. I do mostly city driving, but I only drive about 6000-7000 miles a year. Even with high gas prices, it would take me over five years (might have been 6, I don't have the numbers handy) to break even on the higher initial cost of the Prius. That also did not factor in being tied to the dealership for many repairs, unexpected maintenance/repair costs due to hybrid technology and unknown reliability. And, on a eco/green related note, I do wonder what happens to the battery when it finally quits.

I ended up getting a Toyota Matrix. I got a very good deal and have been happy with the 31ish mpg city driving that I get.

I think hybrids are great in terms of reducing gas consumption and emissions, however, at least for me, it wasn't a large enough economic advantage over the life of the vehicle to make sense for me. And I urge everyone who is considering one to figure out the true cost savings and how much the "it's better for the environment" factor is really worth to them.

[Lisa23]

We just bought a Prius, and it's a great car so far. Rides like a big heavy car, nice and solid, yet with the great mileage. Even still, my spouse has long commutes, and we pay through the nose for gas.

Luckily, we can cover it, but I feel so nickel and dimed lately, what with the gas, and the groceries, and all these little state fees massachusetts has added so they say they aren't raising taxes (that was a Romney move).

grrrrrrr

[spencer]

If I were you I wouldn't sell it. My reasoning is that when you sell to dealership (I assume trade in) you lose money as they'll never pay you what the car really costs. The when you buy from the dealership (again assumption) you'll lose again and the bigger problem is that you don't know if the car you are buying is in good shape or has been in any accidents. You can do private sell/buy but that's a major waste of time in my opinion. Anyway, good luck!

[lozygo]

William Blake/威廉.布莱克 To see a world in a grain of sand, And a heaven in a wild fllower, Hold infinity in the palm of your hand, And eternity in an hour. 从一粒沙子看到一个世界， 从一朵野花看到一个天堂， 把握在你手心里的就是无限， 永恒也就消融于一个时辰Love Your Life 　热爱生活 　　　　Henry David Thoreau/享利.大卫.梭罗 However mean your life is,meet it and live it ;do not shun it and call it hard names.It is not so bad as you are.It looks poorest when you are richest.The fault-finder will find faults in paradise.Love your life,poor as it is.You may perhaps have some pleasant,thrilling,glorious hourss,even in a poor-house.The setting sun is reflected from the windows of the alms-house as brightly as from the rich man's abode;the snow melts before its door as early in the spring.I do not see but a quiet mind may live as contentedly there,and have as cheering thoughts,as in a palace.The town's poor seem to me often to live the most independent lives of any.May be they are simply great enough to receive without misgiving.Most think that they are above being supported by the town;but it often happens that they are not above supporting themselves by dishonest means.which should be more disreputable.Cultivate poverty like a garden herb,like sage.Do not trouble yourself much to get new things,whether clothes or friends,Turn the old,return to them.Things do not change;we change.Sell your clothes and keep your thoughts. 不论你的生活如何卑*，你要面对它生活，不要躲避它，更别用恶言咒骂它。它不像你那样坏。你最富有的时候， 倒是看似最穷。爱找缺点的人就是到天堂里也能找到缺点。你要爱你的生活，尽管它贫穷。甚至在一个济贫院里， 你也还有愉快、高兴、光荣的时候。深圳物流公司、货运公司夕阳反射在济贫院的窗上，像身在富户人家窗上一样光亮；在那门前，积雪同在早春融化。我只看到， 一个从容的人，在哪里也像在皇宫中一样，生活得心满意足而富有愉快的思想。城镇中的穷人，我看，倒往往是过 着最独立不羁的生活。也许因为他们很伟大，所以受之无愧。大多数人以为他们是超然的，不*城镇 来支援他们；深圳货运公司可是事实上他们是往往利用了不正当的手段来对付生活，他们是毫不超脱的，毋宁是不体面的。视贫穷如园中之花 而像圣人一样耕植它吧！不要找新的花样，无论是新的朋友或新的衣服，来麻烦你自己。找旧的，回到那里去。万 物不变，是我们在变。你的衣服可以卖掉，但要保留你的思想。

[cindybythesea]

A 4Runner isn't that horrible on mileage as far as I know. I would just keep it unless you have a whole lot of extra money laying around, which none of us probably do

[moneymatters]

If you are going to get rid of it, just sell it yourself, and then use the money you gain from the sale to buy a cheap reliable used car for about the same or slightly more. That way you can save on gas, and not have to pay a whole lot.

In my opinion new cars are a money hole - they depreciate the moment you drive them off the lot. You can save a lot of that by just buying a 2 or 3 year old car.

I bought my sedan for $7000, and it is still running great 5 years later.