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Personal Narrative: Reducing The Price Of Cars

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My family owns a Volvo 2008 XC 90. We have had it for about 7 years. We like it, but would like some sort of an upgrade. We looked on Kelley Blue Book to see what the trade in value for our car. It is worth about 5k. Not a bad price, but we could have gotten a better one. We looked on the internet to find a hybrid. We found a few choices, but narrowed it down to the 2016 Toyota Prius Two Hatchback. It costs from $24,095 to $22,095. If we reduce the price compared to our trade in value, we get an $18,095 car. This is a good price, but we also have to consider some other things as well. First, we will looked at the mileage. We drive about 1200 miles a month. If we take the price of gas, which is about $2.20 per gallon, we pay about $121 in one month. If we take it one step further, we pay about $1,452 in one year. A lot of money for travel. So how much does this hybrid save us? Well based on the mileage, the cost of gas, and …show more content…

To do this we subtract $18,095 and $73.02 twelve times to represent the twelve months. If we do this we get a reduction of $17,218.76 which means we regained only $876.24 in one year. Now that may sound like a lot, but this actually a pretty small amount. So every year we regain $876.24 to our account. If we subtract 876.24 from the car price, it would literally take us 20 years and a half to regain all that money from buying the hybrid. That is a super long time even though we saved a lot on gas. Overall I think that buying a hybrid vehicle for our family is a bad idea. It would take way too long to repay even though we save a bunch on gas. In 20 and a half years, I would be out of college and living my own life. My parents would have probably sold the car already. I think it is just a waste of money to buy this vehicle. It wouldn’t be that great financially even though it helps the environment. Buying a hybrid vehicle is a bad idea to

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