6. Your family may not fit in the smaller car. The best gas sippers are pretty small, especially to consumers who are used to a roomy SUV or minivan. Here are the specifications of several 2009 models:
Honda Fit 5-speed automatic:
- Length: 161.6"
- Height: 60"
- Width: 66.7"
- Gas mileage: 28 city/35 highway/31 combined
Honda Pilot LX 5-speed automatic 4-wheel-drive
- Length: 190.9"
- Height: 71"
- Width: 78.5"
- Gas mileage: 16 city/22 highway/18 combined
GMC Yukon 5-speed automatic 4-wheel-drive
- Length: 202"
- Height: 76.9"
- Width: 79"
- Gas mileage: 11 city/14 highway/12 combined
Before you take the plunge to smaller car, bring your family to the dealership and have everyone sit in the car you are interested in, to see what it feels like.
7. It can't hurt to wait. Six months ago, analysts were predicting $200 a barrel oil in 2009, which could have jacked up gas prices past $5 a gallon. Instead, two months shy of 2009, oil fell below $70 a barrel, and gas is below $3 a gallon.
Just as no one knows where the price of gas will go, the future improvements in technology are also not readily apparent. Hybrid technology continues to develop, and although analysts don't expect hybrids to get much cheaper in general, their current premium might erode as more models hit the market.
Also, the credit crunch will inevitably ease, so you might be able to get better terms on a loan or lease by waiting six months or a year or longer. Prices of SUVs may also moderate as the current glut works its way through the market.