The Great Fuel Cost Debate-Keep Your Gas Guzzler or Buy a Hybrid

Driving a gas guzzling SUV or just a plain old gas drinking car? Considered racing out and buying a more fuel efficient hybrid to take the sting out of the old gas/fuel budget?

Maybe it would be best to think again.

Human nature would be to amputate the cause of the budget drain. Anger at watching the dollars digitally flash by while filling up is a weekly or more often event for most people. What only a year or two ago cost $40.00 to fill up now costs $80 or $90.00.

With fuel costs now easing slightly off their $4.00 plus per gallon peak, ones wallet or purse feels a lot lighter leaving gas station. Or it takes a brinks truck to pay off the gas or credit card when the bill comes. The sting of gas and diesel costs are still a sore point for many people. So sore that they amputate the fuel guzzler and opt for the hybrid car.

But maybe it would be better for people to think again.

Can the increase cost of fuel be offset by the purchase of the suddenly trendy hybrids?

Smart Money Magazine decided to it worth the effort to devise a nifty tool to check before you step foot on the new car lot.

Their calculator considers many factors such as current car payment (if any) miles driven and trade in value (don't be shocked if it's worth a lot less than you thought. If you're getting rid of it, so are many others in the same position.) of the old fuel hungry vehicle.

On the new vehicle side, it considers among other issues cost of the new vehicle (get ready in some cases to be shocked), down payment, length of new car loan and the interest rate.

I know, Dave Ramsey fans just had a sudden drop or rise in blood pressure over the "car payment". But not everyone has caught on and pays cash for their vehicles. Sigh, maybe some day.

Now don't be surprised to find that it will probably be in your best interests to keep the current vehicle. Even if you're in a position to pay cash.

You can click HERE to go THERE to find the Smart Money" tool.

Good luck!