Chu is right, sorry. As long as fuel is cheap, inefficient vehicles will rule the roost. There are affordable non-hybrids that are reasonably priced. The Chevy Cruze Eco is an example.
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Yep all sorts of economical cars that get great milage especially when you compare them to what a lot of people drive, no need to go broke saving fuel and money.
Seasoned Oak
Minister of Fire
And you can be the proud owner of one of these babys for a low $159 a month lease. Wont break the bank and i have read that reviewers have attained as much as 58 MPG on a level road at 55MPH. Avg Mpg is closer to 40.
Seasoned Oak
Minister of Fire
I know many people dont like the idea of a lease but i have had 2 already an made money on both of them. My rule of thumb is if you are only going to keep the car for about 3 years often its a good deal. Plus you have options at the end of the lease, you can buy the car or simply give it back.
maple1
Minister of Fire
Seasoned Oak
Minister of Fire
I made money as opposed to buying the same car. When the lease was up the car was not worth the residual value, so if i had bought it i would be out the difference.
In that case i just gave it back and the leasing company took the hit for the difference. The second time they had a deal going (GM)where you could turn the car in a year early ,they waive the remaining payments, so i was in a new car in just 2 years. That car i purchased and did take a loss 3 years later when trading it in. I never paid more than $229 to lease a new car but never paid less than $333 to buy one,and that was with a down payment. they all worth just about nothing after 5-6 years anyway.Unless your buying a truck ,they hold their value much longer than a car.
semipro
Minister of Fire
The average guy does however have a choice in what he buys to some extent. As long as he continues to buy SUVs and Pickups instead of more fuel efficient vehicles, that's what Detroit is going to develop and produce.
If we had paid the true cost of fuel in the past (without federal or other subsidization) its likely we'd be much farther ahead with respect to developing efficient vehicles.
btuser
Minister of Fire
The big cost savings in my house is the list on the fridge. Not running out for milk on Tuesday or a can of stewed tomatoes on Thursday or more laundry soap on Friday when you were just there at Target buying a KungFu Joe and a birthday card for Saturday. MPG is great but 200mpg isn't going to fix my bad memory.
Seasoned Oak
Minister of Fire
I drive a low MPG truck for work. I can effectively double my economy by combining trips,works for any car or truck. Like you said dont drag a 6000LB vehicle out for every minor item you may think you need right now.
And I agree with you as far as that Semipro, how about the guy who cant afford to go buy a new energy efficient car because he has not had a steady job for the past few years? what is he to do, happily pay $4.50 to 5.00 a gallon. Thats why I am not a proponent of raising gas prices to curb usage. Im all for efficient vehicles, but if I cant afford to drive to my job then how happy can I be with Chu.
GaryGary
Feeling the Heat
It seems like there should be some creative financing for fuel efficient cars that provides some up front money in exchange for a payments over the years that are less than the fuel cost savings. Sort of like the home loans where you can borrow the money to add energy saving features, and the added payment is more than made up for by the monthly energy cost saving. Seems like a win-win?
Gary
semipro
Minister of Fire
I thinks sometimes folks lose sight of how fuel prices ultimately affect their transportation costs.
Since vehicle ownership averages about $0.50/mile, a $1 increase in per gallon cost of fuel (25% increase) results in an increase of $0.05/mile (10%) in driving cost for a vehicle that gets 20 MPG. The cost increase for more efficient vehicles would be even less.
Seasoned Oak
Minister of Fire
Gas prices like everything else can only be successfully tamed long term by 1 thing, competition. When it has to compete with CNG or electric or some other form of transportation fuel prices will moderate. Short term ,supply and demand still rule.
MishMouse
Minister of Fire
If they are thinking that raising gas prices will lead more people into hybrids/ev they need to understand that would only work with a growing economy with ultra low unemployment. If someone can't afford to pay over 4$ a gallon for gas, there is no way that person is going to be looking to buy a new car. If you look at current consumption rates, I do not think we are using more gas, I think we are using less. The higher the price goes the less we will use. The other problem with higher gas prices is that it also increases the overall costs of everything.
I don't think that is the goal. It is to reduce carbon emissions. If you do that with a non-hybrid, that is still a gain. For the near future, electric cars are going to be for urban corridors. Note that it is not regulation that is and will cause gas prices to increase. It is the global marketplace. We need to wake up to the fact that many other industrialized nations will pay much more for our resources than we currently pay.
btuser
Minister of Fire
You're right. We need to invade NOW.
I really hope the rich have a plan. I hope they've figured out fusion and are just waiting for the end of the petrodollar to fund the baby boom. It stinks to think about buring all that oil when we've got such a better way of doing it, but it's a supply chain that's not going to stop till it breaks. If we stop buying gas the price of gas for Americans will skyrocket. The price of everything will skyrocket. We won't save anything (well, maybe the planet) by getting off of gasoline because as others have stated someone else is ready to line up and buy it.
That was exactly my point. Thank you. Steven Chu makes a great point however I disagree with him due to this same point you make. The average guy cannot afford to go and purchase a new vehicle so that he can save on fuel. But I also understand that it HAS to start somewhere. Its a difficult subject.
Seasoned Oak
Minister of Fire
One of my vehicles only gets as about 8 miles to the gallon ,but i only put about $50 -$60 a month in gas in it. I cant buy a vehicle that gets better MPG for $50-$60 a month. If i were putting out $300-$500 on gas every month you bet i would be looking to update.
Indeed. The more higher mileage cars that get into the market now will mean that there will be many more available on the used market in the future.
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