In my years of auto lending, I’ve noticed that people sometimes don’t consider the operating expenses of the vehicle they want to purchase. It’s not only the miles per gallon that can put your budget out of whack! Many people purchase high performance and luxury vehicles that require the use of 93 octane premium fuel. That type of fuel will cost you about forty cents more per gallon compared to regular fuel! This fuel will increase your monthly operating expenses by more than $30 per month if you use twenty gallons of gas per week.
Gas mileage is still very important of course. I recently spoke to a friend of mine that purchased a big, heavy SUV. He is feeling a financial squeeze because gasoline went up to $2.74 a gallon. What will happen to him if fuel goes up to $4.00 per gallon like it has in the past? If we use the 20 gallon per week user as an example, the added expense will be about $110 per month! Think about this, can you afford an extra $110 every month? I recommend checking out the gas mileage ratings of the vehicles that you are considering. Don’t get yourself into a situation where the cost of gas prevents you from enjoying life! Better yet, let We Drive steer you in the right direction.