Hello, all. I’m looking for advice on a potential purchase. I currently have a 2013 Toyota Tacoma (115K miles), but it only gets 21mpg. I drive about 84 miles (round trip) each day to work and back. I’m thinking of getting the 2023 Hyundai Hybrid, which gets about 50mpg. Should I just keep my Tacoma since they are so reliable and just eat the fuel bill each week?
I think the word is Crazy . That can be answered by your relatives and friends .
Hybrids are not really meant as highway vehicles . Plus any new vehicle you buy now will be sticker price plus dealer upcharge . I won’t do the math for you but I would not call this idea a saving plan.
You are paying roughly $20 a day to commute to work at $5.00 a gallon or $400 a month. The Hyundai (assuming Elantra since you didn’t say…) will cost you $8.40 a day or $168 a month. You save $232 a month.
Since you didn’t say if you are making payments on the Tacoma, or how much extra you drive a month but if you could save $232 a month on payments, you’d only break even.
The Taco is worth maybe $14,000 trade in. The Elantra costs maybe $28,000 so net cost is $15,500 with fees and such IF you own it outright. To get the monthly payment under $232, you’d need to finance the car for 72 months JUST to break even.
See? I’m so out of my mind that I can’t even spell correctly! Yeah, I was just seeing if anyone would actually tell me that hybrids are the future and I should just take the leap. I’ll probably be able to drive this Toyota for another 100k.
I am not going to list all the possible ways to cet better mpg . But a web search for Hypermiling will show many . Some are useful and some are just plain stupid .
Don’t most people who trade their pickup for a car usually regret it ?
Yes, hybrids and EVs are the future.*
In your case, you should stick with what you have… at least for the foreseeable future.
*If plug-in hybrids and EVs weren’t the future, I don’t think that the second-largest electric utility in my state would be doing all of the following, which they just announced a few days ago:
Residential charging - Up to $1,500 in incentives for customer electrical upgrades necessary for the installation of up to 2,000 qualified Level Two electric vehicle chargers in our service area. Qualified residential customers may also be eligible for up to $5,500 in utility upgrades, such as new poles, transformers and service wires, required to support the chargers. Additionally, bill credit incentives may be available to encourage off-peak-hours charging.
Mixed-use commercial and multifamily property charging – the mixed-use commercial program provides up to $6,700 per qualified Level Two charger for up to 500 public-access ports, and up to $5,000 per port for a maximum of 100 ports dedicated to workplace use across our service territory. Multifamily property owners also can qualify for off-peak charging credits as well as incentives of up to $8,375 per qualified Level Two charger for up to 150 ports in state-designated overburdened communities within our service territory, and up to $6,700 per smart charging port for up to 150 ports in non-overburdened communities in our service territory. The mixed-use commercial and multifamily property component also covers the costs of utility upgrades at qualifying locations.
Public-access DC Fast charging - provides incentives of up to $25,000 per DC fast charger port for up to 248 charging locations accessible to the public across our service territory. Additionally, we will install new underground cabling, transformers, metering connections and poles for up to 124 public DC Fast charging locations at a cost of up to $50,500 per location. To help manage the increased electrical costs of DC fast charging, demand charge discounts are also available.
I hope that my electric utility decides to offer the same freebies for their customers!
Well as a third generation Texan, getting a car would make me feel less of a man. So, you’re probably right.
I do appreciate the time you took to explain that. Initially I was pumped to get a vehicle that could get 50mpg but after hearing all this, I may just stick with what I have. And I did pay it off about 5 years ago. Well the good thing about Toyotas is they just about live forever.
Everyone has their theories.
Only if they really need a pickup to begin with. My opinion is that quite a few people with pickups don’t really have a need for them. In my neighborhood/community/area I’d be willing to bet that 99% of all the high dollar, extended cab, jacked up, 4WD trucks never see a dirt road much less go off reading, or haul anything besides groceries. Much like do I need my 650i convertible? No, my Camry fills my needs. Did I want a 650i convertible? Oh hell yes.
Another example of how it rarely makes financial sense to buy a new vehicle just to save gas. If it’s time to buy a new vehicle, then decide which one is best, mpgs included. But not the other way around.
Like my former neighbor whose daily-driver was a dual-wheeled pickup?
He never hauled anything and did not own a business that required a pickup with that type of load-carrying ability, but apparently his insecurities required him to have the widest vehicle on the street.
It’s interesting because in the 9 years I’ve had it, I haven’t towed one thing and I have rarely needed the bed for holding anything.
Are you sure ? The Hyundai web site shows 30 city / upto 42 highway / 37 combined . Very few people will reach those numbers all the time .
Everything that I’ve read about the base model (Blue trim) should get close to 50mpg.
For the Elantra hybrid the web site says "2022 ELANTRA Hybrid Blue: 53 City/56 Hwy/54 Combined MPG. 2022 ELANTRA Hybrid Limited: 49 City/52 Hwy/50 Combined. "
You said it earlier. It carried around your manhood.
Yep that’s about all it carried.
As consolation most people forget that the purchase price is a “sunk cost”, meaning that the resale value typically declines much faster than the utility value.
i.e. a New or “Hot” Anything is going to cost you much more in depreciation than any replacement.
Yes, Hybrids and EV’s are the future but as Mustangman pointed out you’ll take an immediate $15,000 hit exclusive of interest costs, which buys a whole lotta gasoline…
Smart money says that at a 20,000 miles a year commute the $232/month Elantra gas savings
comes to 4 years $11,236, at which time the Tacoma will have 200,000 miles and a zero resale value.
In the meantime the Elantra has cost you 48 months @ $232 or $12,600 with several years of payments ahead of you. Small difference but we’re talking about $5 vs current $4.25 gas and current premium prices for EV’s/Hybrids which may not last.
BTW In all honesty with the crazy gas prices I’m looking forward to picking up a “cheap” pickup or a V8/V12 sports car/sedan at “knock down prices” from the panic of fools.
Don’t be a fool!
I like that panic of fools. Been there before then wait a little longer and you can pick up a nice economy car cheap. I for one though am not making any long term plans so would take what’s on the lot.