AutoWeek magazine, America’s only weekly automotive-enthusiast magazine, has just announced its picks for the “Top 5 Fuel-Efficient Cars You Actually Want to Drive.” The list highlights
vehicles that save money at the gas pump and produce smiles behind the
wheel. While it is easy to choose a car based solely on the highest miles
per gallon on the window sticker, there are only a few that can uniquely
offer a combination of fuel-efficiency, styling and impressive driving
dynamics. Out of the many offerings, these five stand out for those reasons
and more.
“With the current economic downturn, increasingly high fuel prices and
a growing concern for the environment, many of today’s drivers are
embracing fuel efficient or ‘green vehicles,’” stated K.C. Crain, Vice
President and Publisher of AutoWeek. “We want to educate consumers on the
few vehicles that are not only Earth-friendly, but also stylish and
exhilarating to drive.”
Capturing the attention of enthusiasts who refuse to sacrifice
performance or style, all five choices attain 27 mpg or better while
strongly debunking the belief that fuel-efficiency and fun can not be
placed in the same sentence when describing a car. The list places each
selection in five different classes — Exotic, Weekend Warrior, Executive
Sedan, Cheap Thrills and Family Fun. Five cars with five different
approaches to efficiently enjoy driving in today’s $5 per gallon world.
AutoWeek’s “Top 5 Fuel-Efficient Cars You Actually Want to Drive”
– 2008 Tesla Roadster (Exotic)
- $109,000 MSRP
- 220 miles per charge (256 mpg equivalent)
- 0-60 in 3.9 seconds
– 2008 Audi TT 2.0 TDI Quattro (Weekend Warrior)
- $49,000 MSRP (estimated)
- 44 mpg (hwy)
- All-wheel drive handling
– 2008 Mercedes-Benz E320 BLUETEC (Executive Sedan)
- $53,075 MSRP
- 32 mpg (hwy)
- 210 horsepower, 400 lb-ft of torque
– 2008 MINI Cooper (Cheap Thrills)
- $18,700 MSRP
- 37 mpg (hwy)
- 2546 lbs and go-kart handling
– 2008 Lexus RX 400h (Family Fun)
- $42,980 MSRP
- 27 mpg (city)
- 84.7 cubic feet of available cargo space
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AutoWeek is an indispensable source of need-to-know and want-to-know
information, making its readers themselves car experts.
With sales of new vehicles hitting the ropes over a combination punch of rising gas prices, sagging home values and a weakening economy, it’s no surprise that automakers are piling on the incentives to help move the metal. These generally take the form of cash rebates, cut-rate financing deals or subsidized leases, and are averaging around $2,500 per model, according to data compiled by Edmunds.com.
Automakers also get creative from time to time, introducing oddball incentives that may range from free iPods, computers or gift certificates to, in the case of the 2009 Volkswagen Routan minivan, $1,500 deposited in a specially created college savings account for those placing pre-orders before August 31.
Then there’s Chrysler Corporation’s highly touted “Let’s Refuel America” program that essentially freezes the price of a gallon of gas for its customers at $2.99 a gallon for three years. The promotion, which runs (as of this writing) through July 7, applies to most purchased or leased Chrysler, Dodge and Jeep vehicles and is good for a maximum of 12,000 miles driven per year, calculated according to a model’s fuel economy rating. Here, a customer uses a specially issued gas card at an eligible gas station that, in turn, charges his or her credit $2.99 per gallon for the transaction.
But things can get complex when buyers are offered a choice of incentives. This leaves smart shoppers no choice but to do a little detective work to determine which affords the best deal.
Let’s, for example, compare current (again, as of this writing) incentives offered on the Jeep Grand Cherokee SUV. Specifically, we’ll look at the popular Limited model fitted with four-wheel-drive and the optional 5.7-liter Hemi V8 engine.
First let’s see how much choosing Chrysler’s discounted fuel program will save buyers on a model the Environmental Protection Agency rates as obtaining 13 mpg in the city and 18 mpg on the highway.
According to the Department of Energy, the national average for a gallon of gas was $3.94 on June 1. The EPA’s fuel-cost calculator (at fueleconomy.gov) estimates that, at that price, it will cost $3,152 to run the SUV for 12,000 miles. At the locked-in $2.99/gallon price this annual outlay drops to $2,392, which amounts to a $760 yearly savings and a total of $2,280 over the 36-month incentive period. Jeep is throwing in an extra $1,000 cash rebate to further sweeten the deal, bringing the total value to $3,280.
However, based on recent history, it’s reasonable to assume petroleum prices could go even higher (according to DOE records, we were complaining that a gallon of gas cost an average $2.23 three years ago). What if fuel averages $5.00 per gallon over the next three years? In that case, the total potential savings (including the cash rebate) leaps to $5,824.
By comparison, Jeep offers a $3,500 customer cash rebate on the same model. If gas prices remain steady, taking the money up front becomes a slightly better deal by $220; if they continue to rise, the cheap-gas program looks a lot better.
What about financing deals? Chrysler Credit offers zero percent financing on a 36-month loan. We’ll assume a nicely outfitted Grand Cherokee Limited would cost around $40,000 out the door, with the buyer financing 75 percent of that amount. Bank Rate Monitor (bankrate.com) pegs the national average rate for a 36-month car loan at 6.79 percent, which would mean $3,243 in interest saved over the three-year financing period, according to the site’s loan-cost calculator, by taking advantage of the zero-interest promotion.
Alternatively, the automaker offers 3.9 percent financing on a 60-month loan that otherwise goes for a national average of 6.77 percent. We calculate going this route will save $3,068 in interest, and have the added bonus of carrying a smaller monthly car payment, albeit for a longer term ($551 versus $833 for the three-year loan).
Of course such figures will vary wildly based on the cost of a given vehicle and its fuel economy, and are subject to a variety of other factors. For starters, Chrysler’s price-freeze plan automatically favors vehicles that get the worst fuel economy, so choosing a more-economical model will reduce the subsidy’s value. Plus, if a buyer drives less than the 12,000 annual mileage threshold during a given 12-month period, a part of the incentive becomes lost altogether.
What’s more, some buyers may not qualify for a cut-rate financing program, while others may need to take a cash rebate to bolster their down payment in order to help qualify for a loan. And leasing rather than buying a vehicle, or paying cash, automatically eliminates a discounted financing option.
Still this is yet another example of why it always behooves car shoppers to do their homework, run the numbers and enter a dealer’s showroom with all pertinent information at hand to ensure they’ll get an unbeatable deal on the new vehicle that best meets their needs.
© CTW Features
ToyotaLiveWeb.com announces the 2009 MPG Corolla Sweepstakes, featuring the giveaway of a 2009 Toyota Corolla. The contest is sponsored by Central Atlantic region Toyota Dealer Association, and is open to certain residents ages 18 and older through July 31, 2008.
As oil prices have risen, the importance of fuel economy has become increasingly clear. Responding to the swing from SUVs and trucks to efficiency in stride, ToyotaLiveWeb.com, known for great giveaways, has announced the 2009 MPG Corolla Sweepstakes, featuring the giveaway of a 2009 Toyota Corolla LE 4-speed automatic.
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Open to legal residents of the United States ages 18 and older with valid driver’s licenses, the contest runs through July 31, 2008. Furthermore, no purchase is necessary to win the sweepstakes, nor will one increase the odds of winning.
Rising expenses have forced many consumers to look for ways to save money. Thus, the EPA estimate of 35 highway miles per gallon for the 2009 Toyota Corolla LE positions the model well for the shift in market demand towards economy vehicles.
Sponsored by the Central Atlantic region Toyota Dealer Association, the sweepstakes drawing will be held on August 7, 2008. Eligible contestants may register online at ToyotaLiveWeb.com by 5:00 P.M. EST on July 31, 2008.
Mailed submissions must meet the following guidelines: be sent as postcards; include the contestant’s name, address, telephone number and e-mail; be addressed to Pivec Advertising, Ltd., 2009 MPG Corolla Sweepstakes, 2219 York Road #201, Timonium, MD 21093; and be received by July 31, 2008.
To see the official sweepstakes’ rules and learn more about this and future Toyota sweepstakes and giveaways, please visit ToyotaLiveWeb.com. e>
