February 20, 2010
Should I Trade In My Suv For A Honda Civic To Save $$$ On Gasoline?
My wife and I are expecting our first child in December, so we’re concerned that a Civic may be too small for a child, considering we’ll be transporting strollers, baby supplies, toys, etc. I appreciate your thoughts.
Thanks!
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Filed under Gas Conservation FAQ by on Feb 20th, 2010. Comment. 
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Comments on Should I Trade In My Suv For A Honda Civic To Save $$$ On Gasoline?
I got rid of my SUV and picked up a Corolla. My monthly gas bill cut in half and I can still stuff my 4 kids in there, along with 2 subwoofers and groceries in the trunk. The only time our minivan is needed is if my better half and all 4 kids are with me which is usually only on weekends. The Civic will do fine for you. Plenty of room in the trunk for the stroller and all the supplies. Plus you still have what’s left of the back seat and the floor to carry stuff.
I do not have a child, but do haul around my work supplies as my company is mobile. I too have thought of ditching my SUV and going for something small like a Civic or Neon.
But one must do the math to see what is more practical. Is your SUV paid for? What are the miles? What would you get if you sold it compared to what you owe? How much is the Civic, what are the payments compared to the SUV, etc. And after figuring all that out, and how much you really drive. How much would you really save if you swapped over to get better MPG?
My situation, since my SUV is paid for and I just put $5k into her over the past 2 years doing major maintenance. For me to sell her for pennies and to put myself into a car payment, higher insurance since it would be full coverage again. Those higher costs cannot off set my higher gas prices.
Sure I might spend $80 per fill up and I might fill up 4 times a month. But that is only $320 in gas. Plus $40 in insurance and I pay $360 to drive my truck every month. Where if I go for a car, just my car payment is $360 and I have yet to pay the $100 insurance or the $200 in gas per month.
Really the only way to figure it up is to really sit and do the math. Also you mention wife and you, is this the only car you have? If so, then maybe get a cheap little car as a run around town car and save the SUV for the longer trips, family trips, etc. I will say the Dodge Neon is good at carrying kid items. Plenty of room in that trunk for strollers, etc (been there, done that w/ old gf)
My wife drove an ’06 Civic after our first child was born. It had plenty of room. I wouldn’t worry about that…
However, I’d worry about trying to trade out of the SUV. If you still owe on it and haven’t had it long, you’re going to find a shock when you visit a dealer. The market on SUVs is horrible right now, and hundreds of thousands of Americans are trying like mad to trade out of them at $4 a gallon.
If you are upside-down on your car loan, trying to “trade down” to a Civic will be difficult. Banks will only overallow so much negative equity to the new loan, and with SUV values being in the toilet, folks are finding themselves buried in them (worst I heard was someone $22K upside-down… that’s just murder). Plus, the negative equity (assuming the bank will do it) carried over adds to the payment on the new car. Adding $5000 in negative equity adds upwards of $100 a month to the payment. When you analyze it, you have to see if the gas savings is worth it.