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Thread: Panic buying!

  1. #1
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    Default Panic buying!

    This is so rediculous I had to post it. I think Americans can be quite stupid....

    http://www.usatoday.com/money/autos/...ing-prices.htm
    Armed Forces Car Club
    Eastern Sierra Chapter, California
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  2. #2
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    I think people are just scared. Every time I fill up the bird I think A)how much i'm getting screwed to buy gas, and b)how much I could save getting something better.

    Personally, It'd bomb everyone, take the oil fields back like we had them at the beginning of the Iraq war, and send everyone running with their tails between their legs. /end rant

  3. #3
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    So, I did the math.

    92 Tbird paid for:
    Insurance: $190 per year
    7500 miles per year = 375 gallons(20 mpg) @ $4 per gallon = $1500

    Total cost less repairs = $1,690

    2010 Prius:
    Insurance: $650 per year
    7500 Miles per year = 166 gallons (45 mpg) @ $4 per gallon = $664
    Payments with $5,000 down is $350 per month = $4,200 per year.

    Total cost less repairs $5,504 per year

    The difference of $19,070 over 5 years will by me a whole lot of gas. So, it makes no financial sense to run out and buy a new gas saving car. Even if I spend an average of $1,000 per year in maintenance $14,070 will still buy a whole lot of gas. @ $5 per gallon it would buy me 2,814 gallons of gas.
    Armed Forces Car Club
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  4. #4
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    Plus it saves you the embarassment of being seen in a Prius.

  5. #5
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    Right you are....
    Armed Forces Car Club
    Eastern Sierra Chapter, California
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  6. #6
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    If you are driving a car with without a car note - then running out to buy a new fuel efficient car doesn't make much sense. Once the financial agreement has been settled, lets assume 5-years, when the savings start to kick in you can feel a little bit better. But doing the math, you won't break even... even (i hate it when i do that - i'd stop if could) during another 5-year timespan. I only measured gasoline @ $4. Gas would pretty much have to hit armegeddon prices of over $16/gal to do so. And I'm sure cars will be getting over a 100MPGs after the nuclear winter so you will still get hosed.

    But if you are driving a $35K SUV or similar large vehicle (or performance vehicle) that you can sell or trade and break even to purchase a new more fuel efficient car... (or you were sitting on the sidelines with cash money, waiting for your beater to break that one last time) it may make perfect sense given your situation. Sometimes events happen that push you into doing something you planned to do but were holding off just a little bit longer. Everyone has their tipping point.

    And some people are just stupid.

    At least, that is my take. The news tends to be one-sided so I don't take them too seriously.

    But I must admit, after filling up with nearly $4/gal of 93 this morning, I did lay off the boost for a couple miles. lol.


    Side note: I saw a stereotypical trucker looking guy driving a beige Prius once... I nearly ran the light staring at him. I couldn't believe it.
    2005 Subaru WRX STi|daily driver

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    Quote Originally Posted by EricCoolCats View Post
    Plus it saves you the embarassment of being seen in a Prius.
    I just got into a '94 Escort (2 door hatchback) for a DD...... And I must say I probably look pretty lame.
    FOXLESS!!

    1994 Lincoln Mark VIII


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    Quote Originally Posted by 20thanniver-ls View Post
    I just got into a '94 Escort (2 door hatchback) for a DD...... And I must say I probably look pretty lame.
    Million times better than a Prius
    Fox-less at the moment

  9. #9
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    I wish I had my wifes old 91 escort GT 5spd back. It would average 35mpg every tank. Got $500 for trade in 11 yrs ago.
    Mike

  10. #10
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    I also own a 2001 Escort ZX2 that my daughter has custody of. What a hot rod! Even with the auto tranny that car scoots and beats the battle at the pump too. Pretty darn close to 30mpg in town. But, not when it scoots.
    Armed Forces Car Club
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