The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: TheCatWhisperer on July 07, 2017, 09:04:21 AM
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Hi guys, need some advice. I have a 2009 CR-V with 112K miles on it that I bought new back in my pre-MMM days. I manage to get about 25mpg. About a year ago, I got a great job opportunity that more than doubled my income. The only catch is that it's 30 miles from my home. I do not plan to move closer to work.
My question is, do I sell it and get something more fuel efficient? I've been looking at Priuses, and it would almost double my mpg's. I would pay about 3-4k out of pocket to offset the difference. The CR-V has been a great car, but everything for it is so expensive. I feel like this is a no-brainer, but part of me is struggling with pulling the trigger. I'm just afraid of the unknown of getting another car and hating it. Plus I've been talking to non-Mustachian friends who tell me to just keep it since it's paid for.
I guess I just need validation that this makes sense before I move forward. Thanks.
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Going to KBB, it looks like you can buy a 2011 Prius (~85,000 miles) for the same price you could sell the CR-V. That would make it pretty attractive to move up two model years. That said, the CR-V is a pretty darn good vehicle too. So I'd say do it...but it's certainly not a hair on fire emergency.
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You can plug in numbers at fuel economy.gov to see how this would make sense. It would take a few years to recoup $3k of savings. I'd just keep the CR-V.
At 15k miles a year, $2.50/gal, that site says you spend $800 on gas in the Prius, $1700 in the CR-V.
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I've been looking at Priuses, and it would almost double my mpg's. I would pay about 3-4k out of pocket to offset the difference. The CR-V has been a great car, but everything for it is so expensive.
We bought a 2005 CR-V with 180K miles on a few years ago, and as the wrench-turner in the house, it's been a dream car. Two small mechanical issues, both of which had very affordable OEM parts available and easy repairs. Other than that, it's been oil, lamps, and wipers and that's it.
The Prius is also well-regarded, but I'm not sure would be materially cheaper to fix than your Honda. (The brakes on the Prius might last longer, but brakes on most any car are cheap and easy to DIY.)
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I wish I got your MPG , I filled up today and avg 16 mpg for my G37. Stuck in a situation where I'm not sure it makes sense to get rid of the car since it's already paid for.