Do you ever get that sinking feeling at the pump when you see how much a full gas tank costs?
Trust me, you’re not alone. People are so worried about gas that studies show fuel efficiency is the most important factor for buyers looking at a new car. Everyone knows a fuel efficient car can save you serious cash, but the question is, how much?
Well, let’s do the math right now.
First, let’s say you’re looking at a new car that averages 36 miles per gallon with combined city and highway driving. Believe it or not, that’s an attainable number for a sedan! You can naturally get better efficiency in a hybrid vehicle, but for the sake of this experiment, let’s say you want a car you can fill at the pump like usual.
For the second part, I unfortunately can’t poke my head through the screen and ask you what your current car’s mpg is. Technology has come far in the past decade, but not quite that far. Instead, let’s say you drive the average car in the United States. Studies show the average age of a vehicle in the U.S. is 11.6 years, and the average mpg is somewhere between 19 and 24. If we average that out, we get about 22 mpg.
Now, assuming you drive around 1,200 miles a month and account for summer gas prices, you would save about $50 per month. That’s $600 per year, or $3,000 over five years. That’s some serious cash! That number goes up even higher if you drive more miles per month or frequently visit areas with high gas prices. We’re talking upwards of an extra $1,000 over 5 years.
If that doesn’t seem like a lot, remember, fuel efficiency is just one way a newer car can save you money. Remember when we said the average age of a car in the U.S is 11.6 years? Those old tires may still be rolling, but so will visits to the autoshop. Repairs can easily run you $400 or $600, and you might be making those visits regularly with an old vehicle. Heck, car repairs are so expensive, AAA says 1 in 3 motorists can’t pay them without going into debt.
In other words, if you take all the money you would be spending on fuel and repairs and opt to invest in a newer car instead, you might be taking a good chunk off the price tag out right off the bat!
If you’d like to look at some fuel efficient cars, I’d love to get in touch with you. Give me a call and I can show you the best cars on the lot. Even if you need a large vehicle, I could still find a way to save you some cash at the pump. I can even sit down with you and tell you exactly how much you’d save on gas per year. I don’t need any fancy technology for that.