Category: automotive

6

Ask M-Network: Should We Buy A New Or Used Car In This Economy?

My Two Dollars reader Steven S. sent in the following question to the M-Network’s new feature “Ask The M-Network“:

My family needs another car, as our 16 year old Chevy just died and my wife has no way to get to work other than me dropping her off. We were considering a late-model used import car (gas mileage and price), but with all the deals the carmakers are offering, should we buy new instead? I would appreciate your help!

And here are the responses from several of the M-Network members to try to answer Steven’s question…

Plonkee says:

6

Hyundai Will Take Back Your Car For Free If You Lose Your Job.

Yep, no kidding…if you buy a Hyundai and lose your job within the first year of owning it, they will take the car back off your hands:

“If you find that you cannot make your payment because of a covered life changing event, we’ll allow you to return your vehicle and walk away from your loan obligation – and in most cases we will cover most, if not all of the difference,” the carmaker’s Web site says.

9

Figure Out Your Miles Per Dollar Instead Of MPG.

I just came across this site called Miles Per Dollar which has a handy dandy calculator that enables you to see how much it costs you to drive your car on a mile by mile basis. For our car, a Subaru Forester getting about 29 MPG here in New Mexico, and our gas price at $1.77, we are getting 16.95 miles for every dollar we spend on gas. These gas prices won’t last that long, but while they do, this is a pretty good distance to be able to go on $1 worth of gas!

From the site, an interesting perspective:

6

How To Drive More Economically And Save Money On Gas.

The other day I filled up the Subaru and it only cost me $22, whereas just a few months ago it was costing me over $50 a tank. Gas prices have certainly come down (don’t they always around an election?) lately, and we are now paying $1.77 a gallon – a far cry from the $4.99 I was paying in Los Angeles back in June. And while paying for gas has gotten easier on the wallet, I don’t expect it to last forever and I am sure that prices will head back up in 2009. As a result of this thinking, we still try to drive economically and conserve gas as much as possible – it’s like training for a future event you know you will have to participate in someday. If you think you need to drive economically and are looking for new ways to save money on gas, some of these tips might help you out.

8

Gas Prices Brought Down By A Single Cardboard Sign.

I wanted to share this story of an interesting event that happened here in my small town. I don’t know what you all pay for gasoline, but I was paying about $3.89 per gallon of regular unleaded up until this weekend, which seemed like a deal after paying $4.89 per gallon in Los Angeles. However, because I had to head “down the hill” to the city last week to take my wife to the airport, I saw that only an hour away gas was being sold for $3.49 per gallon – a $.40 cent difference. That is a huge difference if you have to buy 10-15 gallons of gas a week! But I just figured the price difference was because of my location and that the gas trucks had to make the trek up the hill to deliver our gas and wrote it off as the price of living in the mountains. However, one of the residents of my town decided that this was not fair, and took to the street corners at the gas stations with cardboard signs telling everyone what gas prices were just an hour down the hill. He stood at different gas stations with his handmade signs for a few days, rain or shine, and everyone started honking when they passed him. Even the newspaper picked up the story, letting us all know that the difference should only be $.06 cents per gallon and not $.40, which meant that our gas stations were price gouging my friends and neighbors here in town. Those of us who live up here tend to stay up here, so we don’t see the differences in price too often – and assume we are being treated fairly. But as it turns out, the gas stations here in town were in collusion to gouge the prices way above the market price so they were making a lot of extra money. This guy was on to something, and he continued to stand out in front of different gas stations with his cardboard signs…

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