When individuals with bad credit or financial troubles decide to buy a car, they might be tempted to spend a lot of energy considering short-term versus long-term costs. For example, a hybrid vehicle requires a large expenditure in the short run, but common wisdom holds that it will surely “pay for itself” by saving the driver money on gas in the long run.
An article in Edmunds.com suggests that this common wisdom may not be entirely accurate. While increasing fuel efficiency from 12.5 mpg to 25 mpg saves 4 gallons over a 100 mile trip, increasing fuel efficiency from 25 mpg to 50 only saves 2 gallons on a 100 mile trip. The savings decrease with each additional mile per gallon a vehicle gets, according to the article.
Individuals with financial troubles may not need to worry about missing out on the most expensive and most fuel efficient vehicles on the market today. However, upgrading a gas-guzzling SUV to an affordable midsize sedan may offer tremendous savings at the pump, and filling out an auto loan application can help those with bad credit secure an affordable loan for a fuel efficient, reasonably-priced used car.