Re: would you drive this
The problem with a car like that is that it just isn't practical for anything but commuting. Tally up purchase price, depreciation, insurance, maintenance and repair costs... and it's pretty hard for most folks to make the numbers work on a second car reserved just for that purpose.
That's the best reason I've ever read as to why these types of cars never work out.
Doing some basic estimates:
Primary auto, needed for anything more than basic commuting (assuming lower MPG SUV):
(Already own it)
Insurance: $500/yr
Maintenance: $800/yr (ave)
Taxes, inspection, registration: $300/yr
Commute cost (
15 miles each way):
15MPG x $2.75/ga x 15 (miles) x 2 (both ways) x 5 (days per week) x 52 (weeks in a year) = $1430/yr in gas money
Commute cost (
30 miles each way):
15MPG x $2.75/ga x 30 (miles) x 2 (both ways) x 5 (days per week) x 52 (weeks in a year) = $2860/yr in gas money
Super MPG Commuter Car:
Initial Cost: $20,000 - $4,000 tax rebate
Insurance: $400/yr
Maintenance: $600/yr (ave)
Taxes, inspection, registration: $300/yr
Commute cost (
15 miles each way):
200MPG x $2.75/ga x 15 (miles) x 2 (both ways) x 5 (days per week) x 52 (weeks in a year) = $107.25/yr in gas money
Commute cost (
30 miles each way):
200MPG x $2.75/ga x 30 (miles) x 2 (both ways) x 5 (days per week) x 52 (weeks in a year) = $214.50/yr in gas money
Savings by owning a super commuter with a 15 mile commute:
$22.75 (gas) +
$150 (lower maint costs for primary vehicle) = $172.75/yr
# of years needed to offset initial vehicle cost:
92 years
Savings by owning a super commuter with a 30 mile commute:
$130 (gas) +
$200 (lower maint costs for primary vehicle) = $330/yr
# of years needed to offset initial vehicle cost:
48 years
These estimates are for an SUV owner, not a decent MPG luxury car, which would make those savings #'s much worse. According to these estimates, once you count the costs for maint, registration and insurance, no second/third vehicle is ever worth owning, even if it were powered for free and by magic. Sobering math indeed.