Save $$ by selling the 14 mpg SUV for a newer hybrid? Probably not...

[bull]

http://www.edmunds.com/calculators/gas-guzzler.html

Check this out. I did a calculation to see if it would be worth it to trade my V8 Durango in on a newer high mpg Ford Escape Hybrid and learned it would probably take about 10 years before I'd start saving money, even when it would save me almost $120/mo. in gas. Plus, says Edmunds, "It's important to note that in many cases it will actually cost even more than what the calculator shows. This is due to sales tax, DMV fees and related dealership fees which are always part of buying a vehicle."

A Typical Example
"A classic situation might be a person who wants to buy a Toyota Prius and trade in a four-year-old GMC Yukon. We ran this situation through the calculator and came up with these figures:


The Yukon is worth $16,090 in this market.
The price of the Prius is $23,903.
The balance is $7,813.
We put in 1,500 miles driven per month and changed the pre-populated price of gas from $4.25 to $4.59 per gallon. We then hit the "calculate" button and got the answer. The calculator told us that we would be saving $312 per month in the cost of gas. However, given the fact that it would cost us at least $7,813 to make this switch, it would take 25 months (or two years and one month) before we would begin actually saving money on gas."

Guess I'll keep enjoying the V8 power!!