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Higher gas prices vs. spending thousands of $$ on a new car

Bodageta

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I get 14mpg in my 1995 z71 which I still love. I’m only buying for gas reasons in that I still need to haul some things and can’t afford to keep two vehicles instead of one (Ford Maverick)
Also I drive 81 miles each weekday.
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WesM

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For me it definitely made financial sense. With used vehicles going for what they are going and with the Maverick so darn cheap (esp with the 4% off invoice I got).

I also figured that I was paying delivery costs, and borrowing or renting a truck almost once a month at least for all the renovation stuff I am doing on my house. So the rental costs were definitely adding up.

The 08 Civic I sold covered about 25% of my Maverick and not paying $150-200 a month on rental/delivery fees covers more than half my payment.

The hybrid fuel savings made it possible for me to get a small truck. My commute is 110 miles a day so the fuel efficiency was important, especially at the crazy gas prices we are seeing now. My Maverick is getting about 10mpg more than my Civic was.

The other issue was the civic was starting to cost about $1k a year in maintenance/part replacement costs. Which means time in the shop that I needed a rental.

So basically, by my calculations I am breaking even buying the Maverick, but ending up with a much better driving experience and a much more flexible vehicle.
 

BILLNOROVILLE

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I just figured it up. At $5/gal the gas I save with the hybrid LARIAT FE will pay for itself in 727 months. 🤪 Everything else being equal.
In CALIFORNIA that 5.00 gas is a dream. A lot of stations over 6.00 now so might cut a few months off my investment XLT Hybrid. Rolling since Dec 15th.
 
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projectvortex

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Giving up my ‘21 Ridgeline for a Mav gave me a monthly payment that is $160 lower, improved mpg’s from 18-23 to 35-42 and also lowered my total outstanding payoff amount by over $10,000. I say this was a good decision, so far, if the Mav remains problem-free.
 

MakinDoForNow

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In CALIFORNIA that 5.00 gas is a dream. A lot of stations over 6.00 now so might cut a few months off my investment XLT Hybrid. Rolling since Dec 15th.
I am in Texas currently paying 4.25 but used 5.00. I have 1988 miles on mine in 11 weeks but usually average about 12,000 miles a year and maverick will get about 34-36% better mpg. If gas goes to $12/gal and I do not cut the miles driven I could pay off maverick several hundred months quicker (😂) with the savings.
 

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OTACORB

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I had a chevy Colorado and Malibu. Really never liked that Colorado from the day I go it. I kept it for almost 3 years. My company car which was sold to me for little of nothing. I was paying twice the insurance and once was sitting most of the time. So, I said the heck with it, sold them both and made out like bandit because both was whistle stop clean. That money went in my pocket then I financed the Maverick at zero. Did need to but why not work off something else dime when you can. Son less insurance, less maintenance, money in my pocket and I got a new Maverick it will be paid for very soon. I didn't get it for mileage sake only. I ike the style and looks of it. If fits me, meets my needs and I just like it. Hybrid is just gravy on the potatoes. Love this truck!
 

TCK

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We have a Sportwagen that we have driven into the ground- time to replace it. Our one rule is to always do better on mileage (gas is $6.30 here today) and be able to haul camping gear. The Maverick seems perfect for all the above, but we have been waiting since early August of last year. I will confirm when it gets here.
 

huunvubu

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Assuming that gas prices are either constant or climbing out of control. I don’t see the justification of spending several thousands to buy a new vehicle with 25-30 mpg while saving yourself a few bucks a month. Am I wrong? Feel free to discuss. If this is your reason to buy the Maverick
Yes your assumptions are missing lots of other details that skew the results to what you want to believe.

#1: You assume that your current vehicle is the latest with all the safety and technology features that you ever want or need.

What if it is old or breaking down or missing those features that you want in a current vehicle vs what you now have.

#2 you also assume that your current vehicle is worth almost nothing

#3 you also assume that your current vehicle handles your current needs.

For me those three above assumptions are wrong.

#1: I want those additional safety and technology features that my current 7 year old vehicle lacked.

#2: I sold my current vehicle for $16,531 and only paid $26,068 for my 2022 Ford Maverick XLT Hybrid so the difference was only $9,537.

#3: I wanted a Truck again at a reasonable price as my current car did not handle my needs.

So all three of these are why your assumptions don't work as I got the brand new truck I wanted with the latest safety and technology features for a very reasonable price. Being a hybrid with today's very high gas prices is a nice plus.
 

TonyS

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As an early reply noted, the overall least expensive option will normally be driving what you have, or buying least expensive but still reliable used - and driving until the cost of repairs gets out of hand.

But that's "normally" and comes with a lot of what if's and speculation.

It would take - just accounting for the price of gas and difference in gas mileage and including what I will sell my existing truck for - about 9-10 years to break even purchasing the Maverick.

And insurance/annual license & registration will cost more on the maverick - but for years the cost of repairs and maintenance on the Maverick will be near zero. At 24 years old, some major repairs coming around on the F-150 is possible in the next 10 yeas, probably likely.

But there are lots of important little things. The Maverick will be a better fit in the garage. It has up to date safety features. It's the RIGHT size for my use. It has been over a decade that I hauled something in the F-150 that would not have fit just fine in the Maverick.

And then there is the shiny and new thing. Shiny and new is nice if you can afford it.

The only thing I'll miss with the old truck is in six months I could snag a 1998 Indiana license plate on eBay and license the old truck as a historic vehicle. That'd be kind of cool.
 

Dechion

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My old Kia is getting a little long in the tooth though it still runs well.

Planning on cleaning that up and giving it to my son as his first vehicle, so I'll be needing a replacement. (Added bonus, I have a perfectly good car to drive while waiting.)

I was already looking at small used trucks when I came across Maverick selling new for about the same price.

While I ended up ordering a pretty loaded truck for 32k I will admit the 20k starting price is something that definitely got me looking.

I'm not going to say that going hybrid will pay for itself in fuel savings, though it would given long enough. I'm simply not likely to live long enough to put the 450,000 or so miles on it that it would take.

Based on 100,000 miles because the math is easier...
100k@ 27mpg = 3704 gallons
100k@ 42mpg = 2381 gallons
Savings of 1323 gallons per 100k miles, or $5,953 at the current gas price of $4.50 a gallon.

Not chump change, but nice to have.

I also wanted something small, but I do occasionally need to grab things from home depot or tractor supply that would go nicely in the small bed.

I guess I'm buying it more as a practical alternative to another car. It will have more passenger room than my Kia does now, a comfortable ride from what I have read, and with the addition of a hard tonneau cover it will have more trunk space than my car, with the option to have a bed when I need it.

Honestly its like it was designed with me in mind, so I must fit in the target audience, lol.
 
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Clifdawg

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My Maverick only gets an average of 1-3mpg better than my 2011 Ford Fusion, but I’m not comparing savings against that vehicle because I really wanted a truck.

Instead, I’m comparing against other trucks. Right now I would be doing well to get into a well-used base model crew cab Nissan Frontier for $20k. All other things remaining equal, I’m spending roughly $3,600 more for a new vehicle that meets my needs and my usage scenario, not to mention has numerous safety and quality-of-life features that a used stripped-out Frontier wouldn’t have. That alone justifies the additional expense, but then we get to gas mileage - I typically drive 14k miles a year. At 18mpg in a Frontier, that’s roughly $3,266/year in fuel costs @ $4.20/gal. At 26mpg in a Mav, that’s $2,261/year. By that measurement, fuel savings alone would pay for the difference between the vehicles in roughly 3 and a half years.

Granted, driving the Fusion into the ground is obviously the most economical choice if I were trying to save as much money as possible, but as I’m able to afford a truck and would like one, the Mav makes a whole lot of sense.
 

The Flush

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I am driving an 07 Taurus with 248K miles. My plan all along was to nurse it along until May 2024 when my mortgage will be paid off. I will replace that car because I need a new car and the hybrid Maverick is what I will replace it with. I would make the same decision even if gas was $2 per gallon. Because you have to plan ahead now a days, I will order a Mav in August which might may or may not move up my replacement schedule. But it won't be because of the price of gas.
 

Michaelkov

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My old Ranger XLT (‘02) had an MSRP of $17.5K. Manual windows, no cruise control.
My hybrid XL MSRP was $22K. After inflation the Ranger would now be $28K.

Maverick is 27% cheaper per MSRP, but back in ‘02, there were discounts. Now, there are ADM’s. So they end up costing about the same OTD after accounting for inflation. And due to market conditions, I got about 40% more when I sold the Ranger. Weird times!
I traded a 2009 KIA Sportage that I bought during the "Cash For Clunkers" program. It had been a really dependable car with OK gas mileage, but it was time for a new vehicle anyway. When the first news of the Maverick Hybrid broke I knew I would buy one. As a previous Ford Escape Hybrid owner (as well as having owned pickup trucks before) I was like "finally"! I ordered my Maverick Hybrid pre-production, sight unseen. No regrets - my Maverick is a joy to drive and has improved my life. I ain't mad, bro.

Ford Maverick Higher gas prices vs. spending thousands of $$ on a new car 275998029_227939532855929_5158338026199869155_n-2
 

RBElectrical

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It absolutely depends on the situation. I have a guy driving a Transit to the same job every day. Now with gas over $5/gal it's costing me over $700/mo for him to drive there and home. 2000 miles a month/14mpg= 143 gallons a month. $736. I am considering getting him a hybid version with a work cap. It might see 34-36 with that setup? If so, that is only 59 gallons=$303. Savings of almost $400/mo. An XLT Lux+ topper is about $30K total. I amortize over 5 years. That is $500/mo. The break even point right now would be $24,000. That's a base XL with topper.

There's obviously more that goes into, but that is strictly from a cash-flow perspective. I would also have an additional insurance cost plus a service vehicle sitting around that is paid for.

I would have to get him a hybrid without a topper and hope he gets 40 mpg for it to be beneficial. And that's only if gas stays $5+ for the duration of the vehicle loan, which hopefully won't happen. Now if gas starts to hit $6-7/gal that will all change in a hurry.
 

ITSATRUCK

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Most fuel efficient vehicles with a bed on the market. I want a vehicle with a bed.
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