With Gas prices going up does it make sense to buy a new car? - Paycheck

With Gas prices going up does it make sense to buy a new car?

Everyone likes new cars. The “new car” scent. The tight steering. The smooth ride. But have you ever thought about the better gas mileage?

Car companies have often used better gas mileage as a sales pitch. “Buy this new model and save big!” But is it true?

Well, some are saying, YES! New cars (especially Hybrid gas/electric) are the way to go for budget-minded Paychecks looking to save on gas.

If you went from getting 18 miles per gallon to driving a hybrid you would probably save about $1,500 a year in fuel! That means saving $125 a month!

Check out the calculation from this recent report:

BREAKING IT DOWN: (Based on the average 15,000 miles per year driver)

New Hybrid Vehicle at 54 mpg             vs.                     Older Vehicle at 18 mpg

15,000 divided by 54 = 277                                                    15,000 divided by 18 = 833

Uses 277 gallons of gas per year                                            Uses 833 gallons of gas per year

277 x $2.70 = $747 per yr. in gas                                           833 x $2.70 = $2249 per yr. in gas

What do you think? Would you drive a hybrid car, truck, or SUV?

 

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