I'm going to look at a '88 Ranger ($400)this weekend because I would like to save a little bit of money for school but I'm not sure it'll be worth it in the long run. The ranger should get 20+mpg, and my current truck gets 13mpg. What I want to know if how many miles will I have to drive the Ranger before I get my money's worth? I've thought about this a long time but I can't seem to figure it out. It'll most likely need some brake work and tires too. Thanks!

 

about 8,000 miles assuming $2 per gallon -

$400 divided by $2 per gallon = 200 gallons of gas needs to be saved

8,000 miles at 13 mpg = 615 gallons

8,000 miles at 20 mpg = 400 gallons (thats 215 gallon difference, so just under 8,000 miles)

 

Not worth it. By the time you buy the vehicle, pay the insurance, maintain it, it will take you probably a year to pay for.

If you put on 15000 miles, it will cost approx $1500 just in gas to run the ranger.

Your existing truck will cost approx. $2310. You will save $810 in one year.

Minus buying the truck, the insurance and regestation you will save approx $200/year. Now consider a $400 truck will probably need $200-500 for maintaince a year, now you are in the negetive.

I could go on forever, but I have put the math to it several times, and you can't justify another vehicle just to save gas.

 

79 posi's math is right on. Basically figure on 20 miles for every $1.00 you have to spend on the ranger. Another thought to consider is that gas prices are on the rise again. As the gas prices go up, the miles needed to make up the difference will be less. Would you be keeping your current truck and keep it licensed an insured? If so then you have to add in the yearly costs.

Initial Cost
($price + $tax) x 20 miles/$= (A)money saving miles needed to make up the difference

Yearly costs.
($licensing + $insurance + $maintainance) x 20 miles/$= (B)miles/year just to break even having 2 vehicles

Figure out (C)miles/year you put on, and subtract (B)miles/year to break even having 2 vehicles = (D) "money saving" miles/year
Divide (A) miles needed to make up the difference by (D) "money saving" miles/year= (E)Years to save enough gas to justify a 2nd vehicle.
Confused yet. The math's really not that hard, it's just making sure that you have all expenses accounted for.

Eg.
Price $400, Tax $25
Licence $100, Insurance $200, Maintainance $100
Miles/year 12,000

($400+$25) x 20 miles/$ = (A) 8500 miles
($100+$200+$100)/year x 20 miles/$ = (B) 8000 miles/year
(C)12,000 miles/year - (B) 8000 miles/year = (D) 4000 "money saving" miles/year
(D) 8500 miles / (D) 4000 miles/year = 2.125 years

This is just an example to help clarify. It shouldn't be too hard to estimate your own costs. Hope this helps.

 

My concern is that you ASSume the ranger will get 20 mpg !!!!

bought one as a graduation gift and it DIDN'T !!! more like 17 mpg and that was with the little 4 cylinder...

 

On the other hand I had a 90 4cyl 5-spd that got 22/26. Even the 2.9 I had in a 4x4 Bronco II got an average of 20, so that should be a realistic figure if it is running properly.

 

This truck has the 2.9, and its 2wd. It runs really nice, but yes, the brakes are shot. I'm going to try doing the math that AG4.0 posted. Even if the truck didn't pay for itself in the end I would still like to have it so my truck doesn't get ruined by deer, and so I can work on it....Now I have to go talk my dad into letting me get it.

 

If it's just brake pads, those are easy and only cost about $30 for the front. The rear drums usually tend to last forever. If possible, you might want to run a compression check on it to insure that the heads aren't cracked. I'm sure you've heard of the issues with these motors. Also make sure the cooling system is well maintained and doing it's job, as overheateing is usually what causes the heads to crack. That's what happened with my BII, blew a radiator hose, and had cracks on 4 of 6 cylinders. If it's been kept up, it should last a long time.