At what point does it make sense to buy a more fuel efficient car?

So, I'm looking at taking a new job that makes my commute about 50 minutes each way instead of 10 minutes, at least for the next year. My current vehicles are a 2010 F-150 and a still-under-construction europa that I definitely wouldn't want to drive that sort of distance. My f-150 gets about 18mpg at best, so I was thinking maybe I should get something a bit more efficient and maybe fun too. But doing the math, a car getting mid 30s mpgs would only save me about 1300 a year, so unless its a complete E36 M3box, it would take a long time to pay off, even assuming my insurance doesn't go up  when i add a second car or anything.

So I guess my question is, at what point would you personally get a more efficient vehicle? It seems unless your current vehicle is sub 10mpg, you can get a super cheap and efficient car, or you're driving multiple times more I'm driving, it never really works out mathematically to buy one. Anything I'm not considering?

The math seldom works when buying a new vehicle. The only way it really works is if you can get rid of the truck and use that to fund something that burns less fuel. 

In reply to Toyman! :

unfortunately I need the truck for tow duty, I've tried just renting a truck, but the Uhauls here never actually have what I reserve. Looking at new trucks, they're not really a significant step forward in terms of mpg, unless I shell out for a Lightning, which would bring it's own problems

Yeah the math almost never works out, especially for an addition rather than a replacement. Find other ways to justify the cost, or live with what you've got.

In reply to dps214 :

to be honest I'm kind of working backwards to justify getting something like a Lotus Elan M100 with the Isuzu engine. I've seen that mid 30s mpg is possible with conscientious driving, but its hard to justify when it would take 7-10 years to pay off. I was kind of kicking myself at first for selling the cayman, but the gas mileage wasn't much better than my truck and it took premium lol

It's hard to buy your way into saving.  But, if you are buying, then buying something economical can be wise.  

I like the compare function of www.fueleconomy.gov for this kind of thing.  For the F150 I put in the best mpg'er and the worst mpg'er for 2010 and compared that the a durable, economical Gen2 Prius.  

Circled in blue is shown the annual fuel cost for 15k miles.  Simple answer is a Prius will save you $2,000-$2,400 per year (at 15k miles.)  Its gonna cost you $3k-$6k to buy a DD Prius.  Seems like a 1.5 to 3 year payback?

15,000 miles is the sites default but see the link for PERSONALIZE and you can change the miles and the style (city vs hyw.)

You metion 50 minutes each way but you did not say how many miles that is. 

In reply to gixxeropa :

Are you comparing the value of fuel saved per year vs the total car value, such that the value of the car at the end of the 'pay off' period is assumed to be $0?... Or are you comparing value of fuel saved per year vs only the predicted depreciation in vehicle value, based on a more realistic value of the car at the end of the 'pay off' period?

The math can work out just fine on mostly-depreciated cars.

I believe a normal car should depreciate something like 50% every 3-5 years. I would think an Elan M100 should depreciate considerably less than that, if at all.

It almost never makes sense to do this, even in the most fuel inefficient vehicles. The only reason to do this is if you want the reliability of a newer or simply want a different kind of vehicle. How much are you towing? Perhaps a Ford Maverick or Honda Ridgeline might do the job.

In reply to Driven5 :

I guess I'm just assuming all of the lotus parts around the engine would be disintegrated after 3-5 years of daily driving

gixxeropa said:

In reply to Toyman! :

unfortunately I need the truck for tow duty, I've tried just renting a truck, but the Uhauls here never actually have what I reserve. Looking at new trucks, they're not really a significant step forward in terms of mpg, unless I shell out for a Lightning, which would bring it's own problems

How much are you towing, and can you get something smaller to do the work?  We downsized to get a 2.0l turbo Escape to do our towing, and when not towing, it gets north of 30mpg.  We did a +5000 mile trip out west this summer- where the speed limit is 80 west if Iowa, and still managed to get 32mpg.  I'm sure in between the Escape and the F150, the smaller vehicles get somewhere in between mileage, too.

In reply to alfadriver :

I'm towing about 5000 pounds, I think changing tow vehicles, I could get into the mid 20s with a reasonably priced used vehicle. Which is probably the most sensible option. could maybe downsize my trailer and get an even more efficient tow vehicle, but I don't really feel comfortable with any of my cars on an open trailer

Already paying off for me. 

But I'm going 90 miles one way. I was averaging 20-25 mpg in my 98 Tacoma.

Bought a $4k 150k mile Prius, and I'm easily doubling that. 45-50 mpg now.

Should pay it's self back after a year and half, including registration, insurance etc.

In reply to Blackhalo :

Dude!  Do you go to the office every day?  
180 miles per day for 5 day and 52 weeks = 46,800 miles per year!  

If so, the Prius saves about $4,650 per year over the Tacoma

Dang, That's enough driving to make me consider renting a second apartment near the office to stay at during the week

In reply to John Welsh :

Just switched to 4 10s.

So only 4 times a week now, but yeah it made a lot of sense for me. Plus we've used it a lot so far instead of taking the family 4Runner. 

And they are so ugly I won't feel bad driving it into the ground.

I'm pretty sure we've had this conversation before, maybe with the exact same thread title

How cheap is a 20-year old Corolla?  That's always been my solution.  Keeps miles off the truck, good on gas, cheap to buy, maintain, and insure.  Not a lot of fun, though!

I do 1000 miles per week, but I still drive my F150.

OK, that's not totally fair. My gas is free, so it's always gonna be the cheaper option. Maintenance is higher, but I have no payments, my insurance is low, and I've got a comfortable ride for those long distances. 
 

Don't forget adding a 2nd car also adds insurance costs, registration, a 2nd car to maintain, etc. 
 

The math doesn't work. 

I was in a similar place a year ago.  Bought a 3K prius and traded 15 mpg for 45 mpg.  But there is more to the equation.  Insurance, plates, more to break.  But on the other side less wear on each, and a resale when done.  I am very happy with the prius, it is more fun to drive locally and less than 20 bucks after 200 miles instead of over 50.  My rec, buy one and see how much you save in a year.  Then sell it and add that to the savings.

I'm gonna change my answer to this riddle.  

Keep your truck.  If it is a good truck, keep it.  On the current used market, you won't find a good used truck and if you do find a good truck they'll be asking way too much.  

But, also buy a commuter car of your choice.  Gen2 Prius '04-'09, or Corolla, or Civic, or similar.  This is GRM after all so buy it for as little as possible and then fix what needs fixing.  In this new age,  you will likely see no or very little depreciation over your years of ownership.  Therefore, spending $3k on a commuter is not as much of a spend as it is "setting those dollars aside."  You get those dollars back when you sell it.  

1988RedT2 said:

How cheap is a 20-year old Corolla?  That's always been my solution.  Keeps miles off the truck, good on gas, cheap to buy, maintain, and insure.  Not a lot of fun, though!

Did they also make a GM badged Corolla at NUMMI ?

might be cheaper....

NUMMI produced the Corolla and Prism until '02
From '03-'09 they produced the Matrix and Vibe.  More of a Corolla wagon instead of a Corolla sedan.  

It doesn't make sense.  My advice, since I too have a long commute, get something fun that you really like to drive.  Get all the amenities you can afford too.  You are going to want Bluetooth connectivity and a nice interface.  Long commutes equal a lot of podcasts, calls, or music.  You'll also want comfortable, logical controls for it all.  Adaptive cruise (I don't have it) sure seems awesome too.

What would the savings be like if you got a used Leaf? Mind you if that 50mins of driving is all highway you may need to charge at work to make it back home.

I don't even spend $1300/yr on gas in total for my Toyobaru. It costs more in insurance than gas

In reply to AnthonyGS (Forum Supporter) :

Yeah that's the other thing to consider. I don't hate driving my truck longer distances, and it  will be better once I get cruise control working, but I wouldn't classify it as fun. Maybe I'll get a fun car if I can negotiate a sign on bonus that will cover some of it