Issue Date: July 13, 2008
Need to keep your gas guzzler?
Drivers aiming to lower sky-high gas costs may consider trading in their SUV or sporty two-door for a more fuel-efficient ride or scarce hybrid.
But what if the balance on your loan is much greater than the car's worth on the resale market? You're "upside down," and you want to make this money-sucking situation right. In this case, your smartest financial move may be to hang onto the beast and get the best mileage you can until you are able to get free of the car, say the experts at Edmunds.com, a car advice site.
Combine errands with your commute so that you drive less overall. Think hard about making that special trip to the store.
If you are a multi-car family, leave the gas guzzler in the driveway and use the more fuel-efficient car for errands and family trips. Ride public transportation whenever you can.
Make sure your tires are properly inflated, and get a tune-up so the car runs efficiently.
Change bad habits that burn fuel, like revving up as soon as the light turns green or braking sharply. And go easy on the gas pedal. If you reduce your highway cruising speed from 75 to 65 mph, your gas mileage could improve by 35%.
|
