HOW MUCH CAR OR TRUCK IS TOO MUCH? - Living

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Jul. 20, 2008
Copyright © Las Vegas Review-Journal

HOW MUCH CAR OR TRUCK IS TOO MUCH?

Drivers consider whether to downsize or make best of bad situation

By COREY LEVITAN
REVIEW-JOURNAL

Carol Van Note fills her gas tank at Huey's Mart, 1591 N. Decatur Blvd. A line of 10 more cars waited their turn for the pump with gas at less than $4 per gallon.
Photo by Craig L. Moran

Christopher Tromba's 1992 Lamborghini Diablo averages about six miles per gallon.
Photo by Ronda Churchill/Review-Journal

San Johnson's pickup truck is driving him to the poorhouse.

"That thing they say at the Dodge dealer, 13 to 15 mpg, that's a bunch of bullcrap," the 51-year-old says while waiting to fill up his 2005 Dodge Ram at Huey's Mart.

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"It's about 11," he continues, "eight when I'm pulling my trailer."

Like many Las Vegans, Johnson plans to downsize to a more fuel-efficient vehicle, as soon as he can scrape up the cash.

"Some of the little trucks, like the Toyota Tundra, they've got a full-size bed in the back," says Johnson, an independent handyman who needs to haul bulky tools from job to job.

Unfortunately, Johnson can't even scrape up the cash to fill his pickup right now. He walks inside Huey's to place $60 cash on pump No. 5 -- and that's after waiting for 20 minutes at the only valley service station never to break the $4 mark.

"It's really having an effect on me, man, I'm telling you," says Johnson, who spends as much as $300 per week on gasoline.

"My operational costs in the last eight years have went up over 300 percent," he says. "Everywhere I look, I'm trying to figure out when am I gonna break even."

Jeremy Muklow also feels the pinch. He says he plans to ditch his big ride, a 10 miles-per-gallon 1977 Dodge Power Wagon, for a Honda CDR motorcycle. The 25-year-old iron worker hopes the trade will slash his gasoline bill from $120 per week to $20.

"Dude, it's depressing," says Muklow, who has had to give up snowboarding and dirtbike-riding, his two favorite pastimes.

"I can't go so many places I used to," Muklow says. "It's really frustrating."

Findlay Toyota reports that fuel efficiency is now the No. 1 concern of its new car customers.

"We've seen an upsurge in demand for our smaller cars," says general manager Rich Abajian, who reports that 70 percent of customers seek a car that gets good mileage and 20 percent specifically request Toyota's Prius hybrid, which has a combined city/highway mpg of 46 and a base sticker price of $23,000.

"Two years ago, people weren't coming in and asking about them, because they thought they were too gimmicky," Abajian says. "And six months ago, only about 5 percent were asking."

As recently as March, Abajian says Findlay had 15 unsold Priuses on its lot. Now there are none, and 100 are on back order. (The longest wait is about three months.)

Although trading in a gas guzzler is always the most fuel-efficient choice, it is not always the most cost-efficient one.

A recent Consumer Reports study warns that downsizing too soon can cost more in the long run than drivers will save at the pump. At issue is the cost of depreciation and loan interest. Depreciation accounts for 48 percent of total ownership costs in the first five years of ownership, while fuel (according to 2007 prices) averages 21 percent.

As a rule of thumb, therefore, if you financed a new car less than three years ago and haven't paid off the loan, even a hybrid won't pay off.

In addition, as Abajian points out, the market value of used gas guzzlers keeps dropping as gasoline prices rise.

"You look at what cars are running through the auctions for, and the value of a big truck coming in on trade is decreasing in the last 90 days considerably," he says. "So it doesn't always make sense to trade in something like a big truck, because the money they're losing on that truck probably would pay for a lot of gas."

Some Las Vegans say they're holding onto their gas guzzlers whatever the price of gasoline.

"It doesn't matter," says Chris Tromba, proud owner of a 1992 Lamborghini Diablo, whose 12 cylinders annihilate gasoline at the rate of six miles per gallon.

"It could be $100 a gallon," the 36-year-old real estate appraiser says. "It's a 200 mph car, and it was always a dream of mine to own something like that."

For daily use, Tromba relies on a Mercedes 430 CLK. But he still manages to rack up 12,000 miles on his Lamborghini each year.

"I drive it for pleasure, not necessity," he says. "I just like a lot of pleasure.

"It's fun being king of the road."

Even Tromba's not entirely unaffected by the $1,000 he and his wife now spend on gasoline per month, however.

"That's why we're thinking about converting our main cars to vegetable oil," he says.

Contact reporter Corey Levitan at clevitan@reviewjournal.com or 702-383-0456.

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Please enter your name Name: Please enter your email Email: Please enter a comment COMMENTS : (word count limit is 300) You have reached the maximum number of words allowed Current Word Count: Note: Comments made by reporters and editors of the Las Vegas Review-Journal are presented with a yellow background. Not Only in Nevada wrote on July 22, 2008 12:12 PM: Ahh Priest, do you have a bit of car envy? vice wrote on July 22, 2008 08:47 AM: Woops - no - I meant to say 12 cylinders - but that's definately not any VW 4-banger! vice wrote on July 22, 2008 08:45 AM: Hahahaha LOL - Hey Priest, you wish! That is the real deal - 16 cylinders worth of 200+ mph Italian machinery. That is one of the fastest cars in town. In my opinion, it is also the most beautiful car in town! Priest wrote on July 22, 2008 08:36 AM: That looks like a Lambo kit car - probably has a VW engine in it. vice wrote on July 22, 2008 07:46 AM: It's not just the car that's expensive, it's also the maintenance and insurance. The premium gas you put into it is the least expensive factor of all. The cliche that all exotic car owners are rich is just not realistic. Most are just ordinary hardworking guys and gals who appreciate fine machinery and work hard to own a mechanical work of art. Most owners drive their exotics far less than their everyday cars. We're not wasteful, and we even recycle! Not Only in Nevada wrote on July 22, 2008 06:06 AM: This is happening all over the country, Nevada is not the only one affected, or sports car owners either; I live in Utah; I drive a Jeep; it was a practical decision; considering the climate in which I live; having the hard snowy winter and the need for the snow stomping power! Unfortunately, I get approx 11 miles per gallon (highway) not something I can exactly bitch about, since I drive the car of my choice. I understand the need to save money and a more economic car may be the answer for some people. Remember This: Next winter, when I actually make it to work, to be able to pay for my gas, in the snow storm; those little economical Smart Cars won’t even get out of the driveway. GOOD LUCK… Furthermore, I also choose to drive 65 MPH (the posted speed)on the freeway and resent the people that are driving 55 to save gas; why don’t you take the city streets; where the speed limit is 35 – 45 save even more gas; get out of my way and stay off the freeway. I agree with Marti, we all need to talk a little ownership! You have a choice this is America, think about what you are doing and stop blaming others for your choices, when you make a bad one... MARTI ASHCRAFT wrote on July 21, 2008 11:17 PM: Blaming the foreclosure crisis on real estate appraisers is like blaming the attendant at the gas station who fills up your car with gas for causing the energy crisis. And for Ha -- you don't even need simple math to understand that you cannot afford a $700,000 house on a $50,000/year salary. You just need some common sense. How about a little personal responsibility, folks? teri wrote on July 21, 2008 07:13 PM: Too bad he's married...I think he's hot Pat Bloomfield wrote on July 21, 2008 03:16 PM: The real estate appraisers are "not" the culprit here...talk to the mortage companies that did whatever they had to, to push through any loan at any price to the consumer. Also lay your blame on the outside investors that drove our RE market through the roof. We had no where to go but down. RE investing is fine, but there were many outside residents that were "hogs" and drove up the demand beyond belief! Now long time residents are paying the piper for those money hungry investors. worksmart wrote on July 21, 2008 02:01 PM: Doofy, you never wanted something nice and worked hard to get it? I hope you get the car (or whatever) of your dreams someday. But be warned, some hateful person will resent you for it. Read All Comments