My husband and I are considering purchasing a new car. The criteria started out searching for a fuel efficient roomy something to replace our Chevrolet Venture van. It appears the Ford Escape Hybrid may suit. We disagree whether a used Ford Escape 4cl for $17,000 or a used Ford Escape Hybrid for $22,000. I say the Hybrid helps with weekly expenses. My husband says the smaller loan for the purchase is more economical. What do you think?
Thank you for visiting AskPatty.comI think the Escape is a good choice. There are several things to consider on both sides. The used Escape will decrease the loan amount, but this vehicle will use up its warranty faster. So even though you are saving on the loan payment you may have additional repair expenses that you would not incur with a new vehicle. Those expenses are not predictable so difficult to plan for. On the flip side the insurance on a pre-owned vehicle is normally lease expensive so that could be an additional savings when looking at the pre-owned side. With the price of gas and depending on your driving habits, the savings on gas could be substantial. You may want to consider purchasing a certified pre-owned vehicle from a dealer that automatically offers an extended warranty, but those are traditionally more expensive because of the added value.I hope this helps.Regards,Marnie KramerEverythingCarz
〉 Answered on Jun 20th, 2007 by Marnie Kramer, Owner and Creator at EverythingCarz.com
I would have the company you are getting a loan through give you monthly payments on each car. You may find out that the payments are not that different. I also believe that the hybrid will pay for itself (fuel wise) in the long run.
〉 Answered on Jun 20th, 2007 by Susan Givens, Publisher at Auto Success Magazine - System Publishing , Inc.