Originally Posted By: Patman
Gas won't be cheap forever
Gas prices, maintenance costs, wages, and MPG are all relative. In the late 60's many vehicles got single digit MPG. Along with poor performance and reliability, constant maintenance, short service life, and very high pollution. And back then gas was in the high 30 cent range per gallon. Today some high performance 4 cylinder models get over 40 MPG with very little maintenance. And perform as good or better than many V-8 models did back then.
Yes, today gas costs more. But when you factor in the all but nonexistent maintenance required on today's new cars, compared to the breaker point, condenser, distributor ignition systems that needed attention and "tune ups" every few thousand miles, not to mention spark plugs that were lucky to last 10,000 miles, the overall cost of the fuel is not much more when everything else is considered. Not to mention the gas purchased today burns much cleaner and more efficiently than the heavily leaded motor fuels did back then.
Plus, today's engines and vehicles last much longer. In the 1960s and 1970s, the typical car reached its end of life around 100,000 miles. (Even less if driven in the rust belt). But today due to manufacturing improvements such as tighter tolerances and better materials and anti-corrosion coatings, in the 2000s the typical car lasts closer to 200,000 miles. So you have to buy fewer of them.
And lastly you have to factor in wages and income. Ask yourself what the average salary of your profession was, back the 60's when there was all of this, "cheap gas" available? It was nowhere near where it is now. According to estimates by the Bureau Of Census and the Department Of Commerce, the average (median) income of families in 1965 was $6,900.00. Today a kid working at Wal-Mart or McDonalds can earn more than that.
The first new car I ever bought, (1970 Nova SS), cost me $3,200.00 out the door. From a financial standpoint, it was the most difficult purchase I ever had to make. In relationship to how long I had to work and save to buy it. The easiest from that same financial standpoint were the last 2 I bought. They ran almost $50K and $30K respectively. So again, when you start talking about, "cheap gas back in the day", it's a big ruse. Because there was a lot more going on in the purchase, upkeep, and operation of a vehicle, than the cost of a gallon of gas pumped into it.