Quote:
Originally Posted by Mt Tam I am
$3000 is a lot to offset the gas savings of a new car.
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I did the math, at most he could conceivably save himself $70 a month on fuel costs by switching cars. This takes into consideration lower octane requirements and miles per gallon. It would take him 3 years to recoup the $3000 trade in hit.
That said on a low interest loan it'll up the payments by about $45 a month depending on the duration of the loan. If you need better fuel economy and more room look for a used vehicle you can save yourself quite a bit because depreciation has already been factored in and in some respects you can "recoup" your loss.