May 21, 2008

OPEC, SCHMOPEC - Buying a Beater and Saving Money

Yes, it has both gray and maroon colored fenders and doors, but I still think that this specimen of used vehicle was a steal at $800. This 1994 Saturn gets over 30 mpg, which is a vast improvement over the 12 mpg my wife was getting in her Suburban, and at 300 miles of driving per week, she will have a full return on investment in a matter of months.

Not to mention the assumed continuation of the older car's value, which ought not decrease much over that span of time. Heck, if gas goes up any more, this economical car might even increase in value.

Of course, many people are not as fortunate (or far-sighted) as we are, and the idea of scraping up even $800 is too much for people who are over-extended and getting clobbered by high gas prices. Still, if you can afford to yank some money from your savings account, this might be the time to scour the want ads for a car that can save you money in your weekly gas expenditures.


steve said...

We are living at the end of the oil age. 5 years from now I imagine there will be a huge influx of electric vehicles into the market. Although hard economic times are coming as the oil era spasms to a halt, the other side will be a much better world IMHO. You might want to start investing in photovoltaics to recharge your electric car.

Jake said...

A very wise choice, Brooks. But does it have a CD player?

Peter Dodson said...

Good work Mike. I still drive my 1993 Civic and it gets better gas mileage than most cars on the road today.

Robin said...

Looks like I'll be hanging on to my 1995 Ford Contour for awhile longer.

There was something on the news (last night, I think), about the sudden popularity of the older, smaller used cars.

Hooda Thunkit said...


A wise move.

Conservative, IMNHO ;-)

The A-Hole Lawyer said...

I just traded my V-6 Taurus (which wasn't to bad on gas) for a 1991 Ford Ranger 4 cylinder. Even with the age I'm a doing better, and NO CAR PAYMENT.

At $5 a gallon, it will be the equivalent of a car payment.

Maybe then ($5) we will move toward INCREASING domestic supply of oil, nat gas and electricity, thus INCREASING the amount of energy resources available worldwide, DECREASING our demand on OPEC supply and thus INFLUENCING OPEC to increase production, reduce prices, and prepare for a change (5-10yrs) in US international consumption.

BUT - NO - we can't drill in Alaska we might kill some birds or POLAR BEARS - (false). We can't build more nuclear plants people might die (like almost happened at 3 mile island and Davis Besse) - (false). And most of all we can't build more refineries domestically - that would only give Bush's cronies more $$$.

The A-Hole