News of new CAFE regulations that would push mileage requirements up significantly came just days ago. The numbers are set and automakers will have to aim high, sort of, to hit the target of 35 miles per gallon by 2016. Several reports have stated that meeting these goals will add an average of $985 to the price of a new car by 2016. Estimates have also come in showing that automakers will spend a staggering $51.5 billion over the next five years to meet the new requirements. So, what's the real cost to you?
Aside from living in a cleaner environment created by the "greener" cars of tomorrow, is there any other benefit of increased fuel standards? The answer is a simple, "yes." Though the average car might cost an additional $985 up front, this is more than offset by money saved in fuel. In fact, over the life of the car or truck, the average new car buyer will realize a return on their investment of an extra $3,000 plus dollars in your wallet. Sounds like a good deal to us.
So why is everyone crying over the new regulations? Because they want pity. Automakers want pity for spending more money to make cars, even though the cost is passed right on to the consumer. Consumer groups want pity for dishing out $985 extra in an already beaten economy, an understandable but misleading case. The truth is, the new CAFE rules are far from costly and they will benefit buyers more directly than anyone else. Plus, they will benefit all of us by creating a greener future.
[Source: Detroit News]
Aside from living in a cleaner environment created by the "greener" cars of tomorrow, is there any other benefit of increased fuel standards? The answer is a simple, "yes." Though the average car might cost an additional $985 up front, this is more than offset by money saved in fuel. In fact, over the life of the car or truck, the average new car buyer will realize a return on their investment of an extra $3,000 plus dollars in your wallet. Sounds like a good deal to us.
So why is everyone crying over the new regulations? Because they want pity. Automakers want pity for spending more money to make cars, even though the cost is passed right on to the consumer. Consumer groups want pity for dishing out $985 extra in an already beaten economy, an understandable but misleading case. The truth is, the new CAFE rules are far from costly and they will benefit buyers more directly than anyone else. Plus, they will benefit all of us by creating a greener future.
[Source: Detroit News]
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