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I bought a Civic coupe that gets 40 mpg on the highway back in 2006, knowing that gas would eventually go up. Unlike the last spike and subsequent fall in price, analysts say this price hike is permanent, and will likely continue. The reason is that countries like China have finally emerged from their feudal origins and are seeking the same kind of modern lifestyles and mobility we have. That means millions of extra cars on the road and upward pressure on oil prices. My wife is considering a Nissan Leaf for her next car; she currently drives an SUV. Their days are obviously numbered, and we'd like to stay ahead of the curve if possible.
We use about 50 gallons a month. The extra $25 we spend on gas doesn't really seem a big concern. Seeing as we have fuel efficient cars and don't drive that much, I think for gas prices to really begin to affect our behavior, they'd need to be up in the $8/gallon range.
On days when I am not working, I don't drive. I have plenty around the house to keep me busy. I plan all my errands together so I am not driving here and there every day like some people I know. Since I work at Costco, I do my shopping either before or after work and that way I dont have to go back on my day off.
I have a fuel efficient gas powered car but have not made the switch to a Hybrid yet, and electric is out of the question. With the price of the electric car and the very limited electric only driving mileage they are just not practical IMHO even with the tax incentives.
We're keeping our eye on the electric cars. Ford just released an electric Focus. It can't go any farther than the Leaf, but charges in half the time. It also has more cargo space than the Leaf. I also read an article saying that Toyota is working on an electric RAV4, set to release in 2012. It'll be interesting to see the mileage constraints on that one.
Otherwise... DH carpools to/from work as much as he can. I can make it to work and back for a week on half a tank. Its our weekend errands/trips that kill us.
I think this sleet almost sometimes snow and kinda of freezing rain storm is the best way to save on gas! No driving = no less gas in the tank! Got Salt?
We're keeping our eye on the electric cars. Ford just released an electric Focus. It can't go any farther than the Leaf, but charges in half the time. It also has more cargo space than the Leaf. I also read an article saying that Toyota is working on an electric RAV4, set to release in 2012. It'll be interesting to see the mileage constraints on that one.
Otherwise... DH carpools to/from work as much as he can. I can make it to work and back for a week on half a tank. Its our weekend errands/trips that kill us.
The issue with buying a new full electric/plug-in car IMO is the depreciation and cost of acquiring kills the idea. $30k car (after tax rebate) keeping it for 8 years makes it cost around $2,820/yr in just depreciation (calculated using an average new car depreciation calculator found via Google). That is $235/month.
$30,000, invested in 3 year CD's @ 2.5%, you're talking $62 in interest earned alone per month. That brings your total out of pocket cost to almost $300/month and you haven't even put the key in the car. Now up to 30,000 miles/yr @ $3/gal, 18,000 miles/yr @ $5/gal.
Ignoring the cost of battery replacement of course, which would run in the thousands, because it is guaranteed for 8 years/100,000 miles (per GM/Volt - why I ran the #'s for 8 years with the electric car).
Just some stuff to think about, and why IMO driving an electric car is simply a status symbol/lifestyle statement rather than about saving money (what the real world is concerned about). I would love love love electric cars to make sense, and I know Raleigh is trying to "usher in" the idea by adding in all those downtown charging stations, but ironically they will be used only by those who can afford a new $30k car not those that really need the cost of travel to go down.
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Got Salt?
