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NYT: Ditch the Gas Guzzler? Well, Maybe Not Yet
For you REALTOR-types who own the requisite gas-guzzling land yacht (suitable for schlepping customers hither and thither), here’s some advice from today’s YOUR MONEY column in the NYT:
Your neighbors may turn up their noses, but keeping your gas-guzzling sport utility vehicle, or buying one coming off a lease, may be a smart move….
….Given the plummeting demand for big vehicles and the rise in gas prices that is responsible for the market turmoil, it is probably tempting to ditch your own large vehicle and trade down to something smaller.
But many experts suggest sitting tight, for a variety of reasons.
Here are some questions to consider if you are tempted to get rid of your gas guzzler, and some tips for figuring out whether it may be more financially sensible to hang onto it for a little longer….
Complete story here.
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I also read something in WIRED that talked about how it was better for the environment to drive a HUMMER vs buying a new Prius. The carbons used are less in a used car vs a new hybrid.
They didn’t say anything about getting a used PRIUS though.
I have a 2 seater convertible. Clients don’t get in my car. Blame it on liability I guess.
Scott,
Thanks for posting this. I was considering in the back of my mind ditching the Jeep Grand Cherokee especially after an $84 fill-up the other week. Not serious thoughts though b/c I do like the car very much.
I have always been of the opinion that it is the most sensible thing to own a smaller car that is better on fuel economy. For greater reasons than my pocket book(even though it has not been overlooked). I feel that we should make the smallest footprint on the earth as possible whether or not we are causing global warming.
However, I agree with this article that ditching your gas guzzler for no reason other than to have a smaller gas bill is foolish. You are going to take it in the shorts on the car you turn in and then you will pay through the noise for the more fuel efficient vehicle. This scenario will eat up any saving you see from the greater fuel economy. On top of this once either the housing market or the stock market starts moving in the upward direction oil prices will come tumbling back down elevating some of the pain at the pump.