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Dumb Money Move No. 8: Sell your gas guzzler and buy a new hybrid |
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| Aug 08, 2008 01:30 PM UTC |
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Via BloggingStocks:
Filed under: Personal finance  This post is part of a series where personal finance expert Dan Solin looks at money moves that may seem smart in tough economic times, but are actually quite dumb. See all 12.I know it is tempting. With gas at $4 a gallon and your SUV making frequent stops to fill up, the cost seems overwhelming. But does it really make sense to sell your gas guzzler and buy a new hybrid? We have been led to believe that the greater the miles per gallon (MPG) of a car, the more we will save on gas. However, a recent study by two professors at Duke University concludes that measuring fuel efficiency solely by MPG is misleading and inaccurate. Look at these two examples. Which do you think will reduce energy costs and emissions the most: 1. You replace a car that gets 16 MPG with one than gets 20 MPG; or 2. You replace a car that gets 34 MPG with a hybrid that gets 50 MPG? Continue reading Dumb Money Move No. 8: Sell your gas guzzler and buy a new hybrid Read | Permalink | Email this | Comments<map name="google_ad_map_145-1269586"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1269586?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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