Gasoline is cheap right now. The cheapest I remember in a lot of years. And for most families, this means a big difference in the household budget. The reality is most people spend a lot of time in their cars getting from one place to another. And when gas costs less, that frees up money for a lot of other things….like paying off debt or saving for the future.
This is why it blows my mind that every time the price of gas drops, there is a noticeable increase in the sales of trucks and SUVs. “Gas is cheap…I should buy a Hummer!” It just doesn’t make sense to me. The price of oil and gasoline fluctuates more than most commodities. And just because gas is cheap now, it won’t be forever. When it goes back up to the $4 per gallon range again at some future date (and it will), you don’t want to be stuck driving a vehicle that gets only 12 miles to the gallon. I think it makes sense to choose a vehicle that offers the best gas mileage available for something that suits your needs. Sure…some people do have need for a truck or an SUV. But certainly not everyone.
Gas is cheap. So don’t spend the extra money on a car that burns more gas. Stick with a more fuel efficient model. Then maybe you’ll be able to use the savings to actually go somewhere.