I currently have a 2009 Honda Civic LX (gas mileage 26 to 34 MPG) with about 83K miles on it. Up until October of last year I was close enough to work that I normally biked to work. My new job is 15.2 miles away one way. I currently carpool with a co-worker each driving our own car 1 week at a time however this is soon going to be ending as my co worker is looking to move soon.
In about 1 year our work location will be moving further from my home about 30 miles 1 way. I would say there is very good possibility that at that time or before I will be moving to a location that will end up being about 15 miles away from my new work.
Since my new job started I've started to drive a bit more lately especially as I find myself less concerned about the car. I estimate weekly now I drive 100 additional miles aside from work combination of city and highway.
I am trying to remove my materialistic and ego driven desires for a car but it's getting more challenging. I have given some thoughts to a Toyota Prius (gas mileage 58 city 53 highway). I was thinking a 1-2 year old used one with a pretty basic trim.
I'd like there to be some way I can justify a purchase like that mathematically with cost savings of gas but I haven't found a way and there may not be one...
My financing options are flexible I could either pay cash, finance at dealership or finance through work at perhaps slightly below market. Even if I bought it in cash I would probably still be comfortable getting full coverage insurance. I currently have just comprehensive on mine. I am a conservative driver who likes trying to drive 60 MPH on the highways (for gas) BUT I have this terrible habit of getting so drowsy when I drive sometimes I'm sure it will cause me an accident one of these days.
I have had no mechanical issues with my current car. Tires will be good until I get to about 100K miles I estimate in 1.5 years. Cosmetically the clear coat is starting to go. It's been rearended a few times but just scratches which I've touched up. It looks ok. Everything inside still works. Private party fair condition according to KBB says I could get $5K for it.
I need some help talking me in or out of this. Maybe some pointers I haven't thought about. Bonus points if there is another vehicle that you think of might meet my criteria. I will say that I will not keep the car until the wheels pop off. I think at most I will keep it another 5 years. Sorry guys I'm just not that mustacian and at some point my ego will overrule any practicality. I do not want to get a truly small car like a Yaris, Fit, Fiat, Smart car. If I got one I would want a traditional sized 4 door sedan maybe a hatchback...