I have been looking at new cars - namely the Honda Civic. The Civic EX vs. the Civic Hybrid is the big question... If gas were $5 per gallon, I would only save about $705 per year, or a total of $3525 in 5 years time. But the Hybrid costs about $4000 more to begin with!
Figure gasoline averages $3 per gallon for the next five years - saves $423 per year or $2115 over 5 years.
EVEN BETTER: My 2001 Accord averages 27 mpg, Civic Hybrid averages around 40 mpg. At $3 per gallon fuel, the hybrid would save me $542 per year or $2708 over five years. Payments on the Hybrid would be around $350 per month if I were to trade off my Accord. The fuel savings don't even equal two months of payments!
$350 per month x 12 months = $4200 -- I highly doubt I'll spend anywhere near that much repairing my Accord in a single year...
I plan to drive what I have for another 50k miles or so, then buy another vehicle with around 50k on it (most of the depreciation done already) and start over.
Hybrids are a fashion statement, not a way to save money or save the world.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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