So, I just sat down and did the math.
I currently drive an 02 Dodge Ram pick up with a v6. I travel roughly 150 miles a day round trip for work. I spend 30-40$ a day on gas.
I’ve calculated that the truck has a 26 gallon fuel capacity and gets me 390 miles per fill up at a cost of about $60 per fill up. Two fill ups a week gets me 780 miles, 750 of which is eaten up with my commute and costs approx $120 a week. I also pay $200 a month on the truck. So let’s call it $170 a week minimum is what driving this truck costs me.
A friend has offered to hook me up at a dealership he owns with with a used 2007 Honda Accord that get approximately 32 miles per gallon. 17 gallon tank. So 544 miles per fill up at a cost of $38 per. So 1088 miles with 2 fill ups a week at $76. The payment for the car would be around $75 a month. So ~$95 a week for the other vehicle.
I won’t get what I owe on the truck if I sell it so I’ll still be paying the $200 a month for it.
So truck = $8840 a year.
New used car = $4940 a year.
If I include the truck payment I’ll still have to make that brings me to $7540 a year.
It feels counter-intuitive, but I can’t deny the numbers. Is the logic flawed somewhere here financial wizards?
February 15, 2018 at 01:26AM
