March 11, 2011
Trading in my gas guzzler for a Honda Civic, bad financial move?
I own a clear title 05 Ford F-150 4×4 trade in price of $8000
New 08 Honda Civic costs $16K leaving me with a balance of $8000 my cost.
I will save $1600 in fuel costs per year owning the Civic, but the Civic costs me $8000
So? i’m not saving money buying the Civic if I take in account the cost to buy the Civic
right?
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Filed under Gas Conservation FAQ by on Mar 11th, 2011. Comment. 
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Comments on Trading in my gas guzzler for a Honda Civic, bad financial move?
You already know the answer to this.
8000 / 1600 = 5 yrs to break even. And that is not including the interest you pay on the loan. So its more like 6 yrs once you account for interest.
In another thread, you were trying to get $25k for this truck. If its an 05, there has to be a buyer out there for 12k-13k. That would make your break even about 14 months, rather than 5 yrs. Get the max you can on the private market, then buy a dependable used car with that cash.