Month: March 2020

Fuel Costs

Whether a buyer is considering new or used options, one important factor in the decision must be fuel costs. As gas prices rise in the U.S., fuel costs have become a salient consideration. Inefficient vehicles, such as large SUVs and trucks, not only cost more for fuel to operate, but in many areas, these large gas-guzzlers are considered environmentally irresponsible. No matter the buyer’s views on the environment, driving a fuel efficient car will save money. Vehicles generally become more efficient over time as new models meet stricter fuel efficiency requirements. If you are a long distance commuter for work, it might be worth paying more for a new vehicle to save on the cost of fuel.

Energy efficient cars are generally smaller than full-sized or luxury vehicles. Very efficient options include those that operate with electricity, such as hybrid models. Though most hybrids, such as the Prius, are small and lack power when compared to standard efficiency vehicles, more hybrid models are currently being developed. GM will soon produce a hybrid Cadillac for those who would like energy efficiency in a luxury model. The main drawback when considering the purchase of a high efficiency model is the cost. Hybrid and other high energy efficient models generally cost significantly more than standard efficiency models.

Shoppers do not necessarily need to purchase high efficiency models to save money on fuel. Four cylinder engines are more fuel efficient than six cylinder engines. The smaller the automobile, the more fuel efficient it will be. Cars are more energy efficient than trucks and SUVs. If the buyer travels a great deal each week, they must consider the costs of fuel to operate the vehiclel. Sticking to smaller cars and foregoing the SUVs and larger trucks is one way to ensure fuel savings for long commutes.

Each vehicle in the U.S. is evaluated for its energy efficiency, though not all vehicles use these evaluation in their marketing materials. Purchasers must research the make and model they are considering to find the two fuel efficiency ratings. Highway MPG is an estimate of the miles per gallon the vehicle will get while traveling on the open road, such as a highway. City MPG is an estimate of the fuel efficiency of the vehicle when driving under stop-and-go conditions.

Fuel costs will likely rise over time. In addition, social pressure to reduce each individual’s carbon footprint will become even more pronounced. Purchasers must consider what they buy today will likely be the one they are fueling two years from now. Selecting the most fuel efficient model available will keep operating costs in control. Guard against out-of-control fuel prices of the future by purchasing a smaller, four cylinder vehicle or a hybrid.

Ways to Lower Insurance Costs

No matter if the buyer purchases new or used, the car will need to be insured. Unless the purchaser pays cash for the vehicle, they will be required to carry a full coverage policy in order to protect the lender’s