Home of the stovetop latte, a DIY drink perfected by years of trial and error.

Wednesday, May 21, 2008

So much for that idea

I said I was going to buy a new car to save money on gas. Note past progressive tense of "go." Upon further investigation, buying a tiny car that gets twice the gas mileage of my Ford Explorer will not save me money at all. In fact, it will cost me much, much more.
How can this be, you ask. Well, it seems that every buffoon in America who bought an SUV over the last six years has decided to dump it in favor of more fuel efficient models. So the trade-in market is glutted with gas-guzzling trucks. My dealer will give me $500 less than what I owe on my Ford. Nice. That means I'd have to come up with about $1,100 now to cover the loan payoff, plus tax, title and license fees.
Then I found out that insuring a motorized skateboard built in 2005 is far more expensive than insuring a loaded SUV built four years earlier. Like about $130 more every six months.
So being the industrious fellow I am, I calculated what it would cost me to buy the little car versus to keep the big Ford, which will be paid off in 18 months. And guess what? Over the course of three years of law school, owning the Kia would save me $2,500 in gasoline, but still cost nearly $3,700 more than keeping the Ford thanks to the extra payments and insurance premiums.
Guess I'll keep the road hog. So much for reducing my carbon footprint. Can't say I'm too sad about this. It's much more fun to drive down the highway in the Explorer.

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