Because of the gas prices, is it worth selling my 98 Jeep Grande Cherokee for a 2001 Civic?
mngllg asked:
I owe nothing on the Jeep and it should be an even trade for the most part. I’m just not sure if gas prices alone is a good enough reason to downgrade to a smaller car.
I owe nothing on the Jeep and it should be an even trade for the most part. I’m just not sure if gas prices alone is a good enough reason to downgrade to a smaller car.
If you owe nothing on it, could you afford to keep it and buy the civic too?? Insurance on multiple vehicles isn’t much more, and this way you can still use the Jeep if you ever needed to.
Assuming:
6 Cyl. 4wd Jeep: 16 MPG average
4 Cyl. manual trans. Civic: 31MPG average
If you don’t really need the extra payload, hauling/towing capacity, and 4wd capabilities of the Jeep, I’d say the Civic would be worth it, especially if you have a long commute.
I am about to do something similar but not as drastic, I have a 99 Grand Cherokee V-8 AWD that I kept from the sell of my store. I used it to haul stuff and minor towing but @ $4.00 a gallon I don’t feel the need to haul or tow that much. I’m getting a Sebring or an Avenger with about 20k on the odometer (mine only has 59000 miles) and buy a warranty.Initially it will not pay for itself but as prices continue to rise it will.
I’m going to use Native Phoenix stats of 16 mpg for your jeep and 31 mpg for the civic.
At $4 a gallon, your jeep cost 25 cents per mile while the civic gets you 13 cents per mile. So, when you travel 100 miles, you pay $12 more for your jeep.
So, to answer your question, you need to determine how far you drive everyday and figure if it’s worth it.