Automobile Investment I Have Made, Tell Me What You Think

[Brokenbad]

I was driving a 2003 F150 and averaging 15mpg.

My wife was driving a 2003 Toyota Matrix and averaging 28mpg.

Both vehicles were paid for and had no warranties. Both vehicles were approaching 100,000+ miles.

I have since traded in both vehicles.

I now have a white 2009 Honda Civic Hybrid with 20K miles and a black 2009 Honda Civic Hybrid with 45K miles.

Both vehicles are averaging 40+mpg. They are both also insured out the wazoo, with all the insurance possible.

I pay $260 a month for each vehicle, totaling $520 per month.

I believe the insurance is going to be VERY well worth it, and gas is only getting higher. I am hoping that the investment turns very much so in my favor when gas climbs and inflation makes a $520 (for even one vehicle) a month payment seem like chump change.

So, good investment? Bad investment? Neither?

I know it is a good investment, but I like to hear opinions too.

[Floppin]

I don't really understand your insurance comment.

[Hugor Hill]

If you don't do a lot of hauling, it sounds like its on the up and up to me. Honda's will last a friggin lifetime.

[KSpan]

As long as you keep the vehicles for 10 years, the math might work. You didn't say how many miles you're driving or how heavily insured your previous cars were.

[Brokenbad]

I don't really understand your insurance comment.

I bought all of the extended warranties and gap coverage. I also have full coverage from my car insurance company.

[Brokenbad]

As long as you keep the vehicles for 10 years, the math might work. You didn't say how many miles you're driving or how heavily insured your previous cars were.

My wife will drive the car with 20k. She usually drives about 20-25K a year.

My car will be the 45K. I drive about 14K per year.

Neither of my previous cars had any warranty at all. Both did have full coverage from the car insurance agency though.

[Wither]

I bought all of the extended warranties and gap coverage. I also have full coverage from my car insurance company.

What does that have to do with anything, besides having insurance?

I suppose what I'm trying to say is: your post is confusing.

[Kevin Greene]

You'll save a poo ton in gas, and with the extended warranties (I assume what you mean by insurance, Honda Care?) no unexpected Hybrid repair costs, just normal maintainance which will be minimal $ out of pocket. Just do what the car tells you to do when the wrench comes on the dash warning lights and you're good to go.

[MadHatter]

I bought all of the extended warranties and gap coverage. I also have full coverage from my car insurance company.

You are a car dealers WET DREAM. Sorry to tell you, but 99% of the extended warranties are NOT worth the money you are spending. They are have the highest profit margin (and not even close) of anything sold at the dealership.

I used to work for Rick Hendrick's management company (VP of Finance for him). We made more money from one extended warranty than we did from selling several cars.

I know it will give you peace of mind, but htere is a 99% chance that you got screwed.

[Niner National]

Just make sure you drive the car like a hybrid to maximize your investment.

I have two hybrids (an 07 Civic Hybrid and a 05 Prius). I bought both for $15,500 (combined). The Prius, when driven sensibly, can get 60+ mpg. The Civic can get 50+ on road trips, but 42-45 is more likely in mixed driving.

If I drive the them like a retard, the Civic will only get in the mid-30's and the Prius will get in the low 40's. That's a HUGE difference.

If your wife drives her civic poorly and gets 32mpg, that's not really a significant upgrade over the 28mpg she was getting before.

Having a hybrid is kinda fun though. All the gauges make it easy to see where you are wasting energy so that you can change your driving habits. I always try to set new mpg records on road trips. I can't really seem to break the 51mpg mark on the Civic though. That's no problem on the Prius.

[Mrs Pantherfan]

Good Lord...I pay $114 a month for FULL coverage insurance on 2 cars....I'm with MHatter..I believe you got screwed...

Mine and my husbands cars are taken care of for many years to come under the warranties now...both Hondas btw

[Niner National]

I have full coverage on my Honda Civic Hybrid for $77/mo. It was $57/mo before I got into an accident in December. I have Geico.

[thefuzz]

Post is very confusing.

That said, I hate the word investment and car in the same breath.

[Brokenbad]

Good Lord...I pay $114 a month for FULL coverage insurance on 2 cars....I'm with MHatter..I believe you got screwed...

Mine and my husbands cars are taken care of for many years to come under the warranties now...both Hondas btw

I must have confused several people with this. I only pay $150 a month for car insurance for both cars.

I bought all the extended warranties which made my total payments a month about $25 more than what they would have been without the warranties.