Tom Hungate wrote to the Pantagraph, an Illinois-based news source, asking if he should keep his three-year old Ford Expedition, in which he was upside-down on his loan, or take the loss and purchase a new Hyundai Tucson. He was concerned about rising fuel prices in 2005. He tried to sell the Expedition privately but no one was willing at the asking price.
Michelle Singletary of the Pantagraph provided some cost analysis for Hungate, calculating the monthly cost for a new Tucson versus how much he would save for the more fuel-efficient vehicle.
The verdict? You can save monetarily and gain in vehicle satisfaction.