With gasoline prices soaring, most people are looking for ways to ease the pain at the pump. Conserving fuel is good for your budget and the planet. However, when it comes to making decisions for financial reasons, use caution and do your homework.

Selling the Gas Guzzler
A quick check of dealer car lots and classified ads will show a glut of used trucks and SUVs for sale. With so much inventory for sale, this means you may get less than you expect; and if the vehicle is only a few years old, maybe even less than what is owed on the vehicle. Economically, it may be better to keep the auto with lower fuel efficiency than take a loss of several thousands of dollars on the sale of your current vehicle.

Hybrids
Driving a hybrid will reduce emissions and conserve fuel; however, it may not save you money. Hybrids are relatively new and typically come with higher price tags. Studies are available that show the break-even point of owning a hybrid (the point at which the savings realized on fuel costs equals the increased purchase price) can range from three to 15 years depending on the model, miles driven and other factors.*

If you're considering changing vehicles, do some research and look at the total cost of the transaction. Consumer Reports, Edmunds.com** and others are good resources for information. If you need assistance, stop by any location, visit www.stmarysbank.com or call our Member Contact Center at 1.888.786.2791.