The Hybrid Hype: Is Upgrading Your Car Really Worth It?

As a household obsessed with maximizing savings, we are always on the lookout for new ways to cut costs. Every dollar saved is a seed planted for our future passive income, after all. So when I stumbled upon a tweet from Mr. Money Mustache (MMM) boasting about the incredible fuel savings of a new hybrid car, I couldn't help but wonder: should we jump on the hybrid bandwagon? Our Current Situation We've already made some significant moves to reduce our transportation costs. In 2014, we relocated to just two miles from our workplace, slashing our fuel consumption. This year, we sold our second car, which was mostly gathering dust in the driveway. Now, we're left with our trusty 2007 Toyota Camry–paid off and reliable. The Tempt

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José

José concluded his distinguished 13-year career at Vanguard at age 44, stepping away from corporate life to embrace an early retirement. As a project manager, he expertly orchestrated the creation and delivery of educational materials—both digital and print—for 401(k) participants, ensuring resources reached millions of investors. Today, he embraces life's simpler pleasures: quality time with family, pursuit of passion projects, discovery of new adventures, and leisurely meals in his garden oasis.

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earlyretirementnow
9 years ago

Great analysis. Sometimes the analysis is over before it even starts. We still drive a gas guzzler – don’t ask how we got it 😉 – but since we drive only very few miles (5-6K miles/year) it’s not really worth it to switch. We plan to drive our current car for a few more years and if more reasons accumulate (repairs and maintenance of an older car, gas prices, etc.) we will reconsider.
Cheers!
ERN

Jose
Admin
9 years ago

Hi! How did you end up with a gas guzzler!?! Just kidding, no judgment here. Overall, we drive very little as well. Sometimes I even forget that there’s a gas tank to fill. I’m okay with handling some repairs at this point. The biggest expense this year was replacing the alternator. We’re hoping to retire before our car so that we don’t have to spend on major repairs. Thanks for stopping by!

LM
LM
9 years ago

We were able to save a ton due to DW commute being 30 miles round trip everyday and moving from a gas guzzler suv (18mpg) to a pre-loved Prius (46mpg).

They were 7 and 8 years old respectively and we made an even trade so no acquisition costs for us. Which made the savings even more compelling.

On a recent long range trip we averaged 56mpg!!!

Jose
Admin
9 years ago
Reply to  LM

Hi LM,
56 mpg is impressive! That made perfect sense for your situation. Thanks for stopping by!

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