Though our friends in England, Germany and Australia won’t take pity, word has it that gas prices in Los Angeles are quickly approaching $5 per gallon. That may not have put a dent in many celebs’ plans to drive their supercars to the Academy Awards last weekend, but that price is a huge budget-killer for most of us. (And a reason for some companies to ramp up their free gas campaigns!)
With no immediate signs of a retreat in prices through summer, it’s probably time to re-think your decision to buy that Suburban you thought was a good idea in 2009. Yes, that’s the last time gas dropped below $2 per gallon. If you took the bait and bought a new car back then thinking we were safe from high fuel prices, guess again. You should consider placing your fuel-chugging ride in the CarGurus used listings and sell before prices really explode. Especially if you drive one of these:
At $5 per gallon, it’ll cost $150, every 400 miles or so, to fill up this family-hauling beast.
A popular choice amongst the crowd that can’t afford Range Rovers, the Grand Cherokee’s value proposition drops considerably when the V8’s 13 miles per gallon gets factored into the monthly budget.
Sorry, Jeep. I don’t mean to pick on a single brand, but the 4-door Wrangler gets beat in the MPG-department by the Hummer H3. Ouch.
Or M3. It really doesn’t matter. If you splurged for an M machine of any kind when lured by the tempting seductress of cheap gas, it’s time to part ways. Or just park your beauty in the garage for the summer. Looking at her doesn’t cost anything.
If gas hits $5 per gallon in your city, will you change the car you drive?