Fuel Economy
Buying a car with good fuel efficiency can save you big bucks at the gas pump. With oil prices on the rise, buying a fuel efficient economy car becomes quite appealing for commuters. Visit Fuel Economy.gov for fuel economy ratings and miles per gallon(MPG) data for specific car models. Fuel economy.gov also makes it easy to compare fuel economy ratings for different cars. Simply plug in different makes and models and you'll be able to generate a custom side by side comparison of the fuel efficiency of your selected vehicles.
Here are a few things to consider when shopping for fuel efficient cars:
Engine size
Don't be so quick to dismiss a four cylinder engine as being too slow. Modern four cylinder engines produce a decent amount of power for their size, which may surprise you next time you overdo it on the snooze button and have to race to get to work on time:-) A four cylinder engine is also less expensive than its bigger brothers, which allows you to save money at the gas pump and on the price of the car. If you're still not convinced that a four cylinder car can cut it, hop in for a test drive and see for yourself. If it doesn't have enough zip for you, go for a V6 model car. Of course you won't have the option of going with a four cylinder for large vehicles; you might find yourself having to choose between a V6 or V8 engine.
For an example of the fuel savings between a four cylinder and V6 engine, check out the fuel economy of the 2007 Saturn Vue(automatic) which can come equipped with a four cylinder or V6 engine. The four cylinder has a MPG of 22 in the city while the V6 gets 20 MPG. The difference is only 1 MPG with highway driving but it does add up. The sticker price of the four cylinder is also $2,500 less expensive than the sticker price of the V6. That is quite the price difference indeed.
Pros and Cons of Hybrid cars
The hybrid car boasts of better fuel economy, but are they really worth it? A hybrid car can have increased fuel economy anywhere from a couple of miles per gallon to over 10 MPG. Using the same vehicle we used above, the Vue hybrid has an increase of 5 MPG in both city and highway driving compared to the four cylinder engine. But when we compare sticker prices, a disadvantage of the hybrid car rears its head. The hybrid costs $3,120 more than the four cylinder(many hybrids have a larger increase in price, such as the Toyota Camry which demands $7,930 more for its hybrid version). As far as performance goes, the hybrid Vue does beat out the four cylinder engine slightly, going from 0-60 a full second faster than the four cylinder.
As hybrid cars are the new kid on the block, the cost to maintain a hybrid car over time remains to be seen. Most hybrids only require regular maintenance just like any non-hybrid car. As a hybrid motor is more complex, the chance of failure is typically higher. Parts for a hybrid car are also more expensive coupled with not being readily available, which may cost you a pretty penny and you'll have to wait to get your car repaired. On the bright side, all hybrid cars currently on the market offer a warranty on all hybrid specific parts for 8 years/100,000 miles or 10 years/150,000 miles.
To help combat the steeper price of a hybrid car, the Energy Policy Act of 2005 established tax credits for consumers who opt to purchase a hybrid-electric or diesel powered car or truck. To view the estimated tax credit for any hybrid vehicle currently on the market(Adobe Acrobat required), visit the American Council for an Energy -Efficient Economy. Be forewarned though, there are limits on the tax credit based on the amount of hybrid vehicles sold by manufacturer. Once a car manufacturer sells 60,000 vehicles, the tax credit is gradually phased out over a 15 month period until the tax credit is non-existant. Toyota/Lexus has already reached this 60,000 vehicle limit and the tax credit is now beginning to phase out. The Toyota/Lexus tax credit was cut down by 50% from October 1, 2006-March 31, 2007 and from April 1, 2007-September 30, 2007 the tax credit was cut down by another 75%. As of October 1st of 2007, Toyota/Lexus no longer receives a tax credit.
Manual versus Automatic Transmission
Although automatic transmissions are improving when it comes to fuel economy, the manual transmission still trumps an automatic transmission in fuel economy by usually 1-3 MPG. An automatic transmission also costs an extra $700 to $1,000+ compared to a manual. Looking at the pros and cons simply from a fuel economy perspective, the manual wins. Of course we wouldn't recommend learning how to drive manual on a brand new car:-)
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