I have a V8 Tundra, love it, looking for a vehicle with better mileage because I have to drive it to work, 12 miles one way. I need the vehicle for ice fishing, towing a small boat, mountain biking and the like. I have 4 payments left on the Tundra and I own it. Should I keep it and buy a real economical car like a Civic or Corolla or should I sell and buy an Element or similar so I do not have to insure 3 cars, so confused right now??????

I think you should donate your Tundra to me :D

That is not one of my suggested options :-P

It was worth a try.

Seriously, do some calculating. I have a 92 Civic I considered bringing out of "retirement" due to gas prices. Insurance is cheap, $102 for 6 months. By doing a break-even analysis I found that at current gas prices I would need to drive 2,085 miles in the Civic every 6 months to break even and that's for a car that's paid for and assuming it will need no repair. The Civic is staying parked, I don't even come close to that. Your insurance will be higher than mine and you'll (possibly) have payments again. It's my guess you'd have to drive a ton of miles to see overall cost savings.

I have a few neighbors out here driving old Suburbans that get horrible mileage but we did the math and it's better for them to stay in those. Not trying to discourage you from purchasing a fine Honda vehicle and I'm sure those concerned about carbon footprints don't like my way of looking at it either. To them I say how much energy is used to build a new car from raw materials to finished product, I know it's a lot.

Used Tundras are taking a beating as far as resale right now also, I have been watching.

Good luck.

What is your gas mileage like right now on your Tundra? Also how much the boat way including the trailer?

John

I have a V8 Tundra, love it, looking for a vehicle with better mileage because I have to drive it to work, 12 miles one way. I need the vehicle for ice fishing, towing a small boat, mountain biking and the like. I have 4 payments left on the Tundra and I own it. Should I keep it and buy a real economical car like a Civic or Corolla or should I sell and buy an Element or similar so I do not have to insure 3 cars, so confused right now??????

The Tundra gets 14-15.5 mpg...The boat weighs around 1000 lbs, it is a utility boat with bench seats so not that heavy....16 feet Aluminum...

So you would get better gas mileage wit the Element. Also it will tow that boat with no issues at all since it had a 1500lb towing capacity. To me it would not be a bad move if you dont need to tow over 1500 pounds.

John

I traded in my 01 Tacoma back on APR 1st...I had it paid off for 2.5 years....I too was getting 14-15 mpg and driving 17.5 miles one way to work. I personally love the E...have since day one they came out w/it. I'm averaging 23-24 mpg as of now.......grant it its not GREAT but its better. It is a vehicle that should meet most if not all of yoour needs. I got a real good deal on my Tacoma. I've heard now that w/gas prices the way they are and headed- that some dealers are jumping at taking the trucks and big SUV's in because nobody is buying them..I wish you well on whatever you decide. You'll love the Element.

Wait till after the election and fuel prices come down at least 25%.:roll:

Seriously though trucks and suvs are worthless as trade right now. Up here I'm seeing two year old $40,000 trucks with low miles not selling at $20,000. You would have a hard time finding a Yaris or Aveo on the lot at any price.

If the truck is payed off and you only have to drive 12 miles each way you will be better off keeping the truck and driving it for a couple more years as your primary vehicle. Save the money you would normally spend on truck payments for a fat down payment on a 2011 Element.

When gas hits $4 a gallon I'm parking the E and driving my wife's Fit. I drive 40 miles each way for work and it is getting to be like having an extra car payment filling the tank every two and a half days.:-(

12 mile commute? Thats nothing, not worth trading for that in my opinion.

If you decide to KEEP the Tundra, then I would buy a Fit for the commute. The Fit gets very good mileage, plus it's a Honda! You can get a tin box like an Aveo but you're not getting Honda quality.

If you decide to SELL the Tundra, then I would buy an Element. I love my Element, but be aware that the mileage is not that great. In the Colorado Rockies this winter I averaged 21.5 mpg.

We have two Elements and a 2000 F-150. The truck was used a good bit when we had two cars, but sits 95% of the time now that we have two E's that get 21 to 25 MPG and can haul most of the stuff the truck can.

We were trying to sell the truck just as gas started its rapid climb a couple months back. I gave up on selling the F-150, because, as others have stated, ANY used truck (and mine is NICE for a 2000) is nearly impossible to sell right now. Mine books at $6,900 to $7,400 and I was getting offers of $4,000.

BTW the '00 F-150 gets 13.5 to 15.5 MPG (4.6 V-8, Auto) best I ever got was 17.5 on a mostly level trip, so the MPG of your much more powerful Tundra is not that bad.

My brother in law has a farther drive (30 miles each way) and just did what you are thinking of. Bought a a new Civic LX for the work commute, kept the tundra (wants to have his truck) and reduced insurance coverage (liability in Ohio and # of miles driven) to keep cost down on the truck.

For 12 miles I'd probably keep the truck and not buy a new car.

I think you will probably take a hit selling or trading the Tundra, and that hit will put a LOT of gas in it. I would love to have a Tundra but can't/won't trade my E again to get one. I would buy a Fit/Yaris/scooter/bike first. What I NEED to do is get my VW diesel pick up back on the road as all it needs is one wheel cylinder. Will do in am.
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I agree, you're better off keeping the Tundra for now. Unless you're putting a TON more miles on it, your calculation will come out extremely skewed the wrong way.

Thanks everyone,
Sounds like a mixed bag of recommendations, keeps the decision just as confusing? Yes, it is just a 12 mile commute, but I use my truck for more than just the commute, I have to use it when my wife has the car....towing the boat, ice fishing....etc....still considering the Element now, any more suggestions out there? Thank in advance...

My guess is that you will be very disappointed by the offers you receive for your Tundra right now. Depending on where you live, could you get by commuting on a motorcycle or scooter? The gas savings from parking the Tundra could well pay for a scooter and it's limited gas use over time. Plus you could probably get your Tundra insurance reduced if you are storing it most of the time. Just a thought.

I'm sure you would like the E. It would pull your boat just fine; although not as easily if you live in the mountains, where E's tend to struggle.

I feel your pain. For a car I drive a '91 F350 crew cab. 9mpgs. That is not a typo (and it burns a little oil - man I am really throwing out the CO2's when I putt around in that thing). Fortunately my commute is only 12 miles (round trip). But I also have a m/c that gets 55 mpg. I have found that I am alot more inclined to ride in the rain than I have been in the past!

CoolE

Thanks again everyone,
It is coming to a decision time..I am at my best offer to date....GG AT AWD 2008 Element for $22,400 and $10,480 for my 2003 Toyota Tundra with 52,000 miles and three payments left....At 2.9% financing, should I do it???? I will go from 3 car payments to 60 and gain about 6-7 mpg, is it worth another loan???
PLEASE HELP I am agonizing over this thing, it is just a car I know but anxiety city here!!!
Thanks...

Driving less than 9,000 miles a year, I can't see you saving money by buying another vehicle, paying interest, depreciation vs. a few extra bucks in the tank of a PAID FOR vehicle!!

Lets see, my Sisters '03 Tundra 4.7 V-8 got about 20 mpg, and my Element gets about 26-7 on the same route (no city driving here). At $4.00 a gallon, thats less than a $500 a year savings, isn't it?


GF

Driving less than 9,000 miles a year, I can't see you saving money by buying another vehicle, paying interest, depreciation vs. a few extra bucks in the tank of a PAID FOR vehicle!!

Lets see, my Sisters '03 Tundra 4.7 V-8 got about 20 mpg, and my Element gets about 26-7 on the same route (no city driving here). At $4.00 a gallon, thats less than a $500 a year savings, isn't it?


GF


Your sister got about 20mpg? Ho;y Cow, I get between 14-17 and I drive like Grandpa. I will be driving more than 9000 miles per year, more like 12000-15000. I am a mountain biker, ice fisherman and I tow a boat. I know that the savings will not pay my payment but I will have a new vehicle under warranty plus gas savings plus not be stuck with a V8 to drive to work. And it will probably only depreciate more with the rising prices? Thanks for your reply.....this is not an easy decision, must admit, a little drawn by the new car smell! But I love my truck, I want my cake and I want to eat it!!

the price on the new e is a bit high, should be between 21,000 and 21,500. check out the perpetual price thread in shopping and test driving. for what its worth, if i was in your position id keep the truck. factor in insurance and registration costs on a new vehicle versus a 5 year old one. ive been happy with my E over the past 19k miles but i see it getting traded in on a subaru in the next year or so.

ok, so you have 4 payments left on your Tundra before it is yours free and clear? If you get 14 mpg and drive 12 miles one way on your commute 5 days a week, you spend about $32 per week on your commute assuming $3.75/gal gas. If you were driving an Element, you would be spending about $20 per week for the same commute assuming 22 mpg. So you save about $50 per month.

Now, realizing that full size trucks are taking a beating in the high gas prices economy right now, and 4 cyl Hondas are kind of overpriced, the market is against you there.

I just traded my 06 Nissan Titan for an 06 Element because I could save on gas AND reduced my payment by half and seeing as how I still had 4 years left on the Titan and didn't use it for anything more than a commuter, I could save a substantial amount of money per month and in the long term. You, on the other hand, stand to save $50 in gas per month and will most likely go into debt in the trade.

Unless you just like the E and want a new vehicle, it probably doesn't make sense economically to trade the Tundra. Besides, the E is a great vehicle, but the Tundra is just a much better one for towing, hauling, and 4WD.

the price on the new e is a bit high, should be between 21,000 and 21,500. check out the perpetual price thread in shopping and test driving. for what its worth, if i was in your position id keep the truck. factor in insurance and registration costs on a new vehicle versus a 5 year old one. ive been happy with my E over the past 19k miles but i see it getting traded in on a subaru in the next year or so.

A Subaru would not work for me. I need to get Ice Shanty in back, and Mt bikes.....and musical equipment.