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Apr 25, 2005 -- Should you replace your SUV with a more fuel efficient car?

Clark had a call recently from a man who was concerned about how much money it took to fill up his SUV. The man was wondering if he should replace his SUV with something more fuel efficient to save on gas. Clark told the caller not to dump the SUV because in the end it wouldn’t be worth it. But afterward he thought about how much of a burden it is to fill up SUVs and other gas guzzlers these days. The advice still holds true in terms of replacing a vehicle, however. Forbes confirmed in a recent article that it doesn’t make sense to get rid of a car you still owe money on because of the price of gas. That’s because most of the cost of a car is not in the price of fuel. The majority of the cost is in the depreciation of the vehicle, the interest on the loan and the maintenance on it. Now, if you’re at a time when you would normally sell a car, it makes sense. But don’t just dump a car because gas prices are high. That’s an emotional reaction and it’s not a good idea.

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What others are saying

  • SUV - link to help chart
    I was listening to your show yesterday and Clark mentioned that he would have a link on his webpage so we can go in and fill out the miles driven and the make and model of our SUV and see it it makes since to sell or keep. The 2005 Expedition only has 15k miles and my wife only drives less than 100miles per week.
    Where is the link ? I might be looking right at it!

    Thanks,

    Newt
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