I enjoyed reading your thinkings on the cars. Have you tried a 2014 Fiesta though? They've changed up some of the dynamics from the 11-13 models. Also, Focus? Focus HB actually leases about 10/m cheaper than the Fiesta because of higher residuals.
Thanks! Nope, have not tried a 2014 Fiesta. Found the one a couple years ago extremely cramped. I live right down the street from a Ford dealership & stop in all the time (they have a lot of electric/hybrids on display out front), so maybe I'll check it out. The one catch is that it only gets a 4-star crash test safety rating in some categories: (safety is a bit of a hangup for me)
http://www.cars.com/ford/fiesta/2014/safety-ratings
The one Fiesta I'm really interested in is the recently-announced 1.0L manual Ecoboost that gets 45 MPG highway. They have some really aggressive lease packages, too - the $15k model is about $2500 down, $150 a month, so my trade-in would pretty much nuke the money down and leave me with a monthly payment well within my budget. That's less than $40 a week! Haha.
I also do like small cars, but I need to fit well in them to enjoy them (ex. like the Honda Fit, TONS of room inside!). The Kia Soul is safer, feels really stable, and is extremely roomy inside - plus I really like the design style. But the appeal of a 45 MPG, 1.0L, 3-cylinder engine is just plain cool! Also, I couldn't figure out how to configure it online (it's only available as an SE sedan or hatch), so I'm not sure if it's available yet, and they don't have any of the 1.0-liters in my area at all.
Plus long-term, as a work commuter, 45 MPG would be really great, especially on my wallet. There's no electric car battery range limitations, there's no expensive hybrid pricetag (2014 Prius nets 51 MPG, but starts at just over $24k - so 6 MPG extra for $9,000 more, plus a battery to change down the road), there's no diesel systems to worry about like urea refills, etc. It's just a small car that gets great MPG. I watched some Youtube reviews and they say the Ecoboost turbo makes it pretty snappy, so it's very drivable.
In addition, the price-per-mile in terms of fuel savings would definitely help the budget. I'm currently driving about 1,200 miles a month. My Volvo gets an average of 20 MPG (fairly consistently) with a 21-gallon tank, and at an average of $3.61 for regular fuel in my area, it's $75.81 to fill it up for a 420-mile range. That's 2.86 tanks of gas per month, or $216.81 monthly for gas in the Volvo. The Soul get 30 MPG highway with a 14.2-gallon tank for a range of 426-mile range for $51.26 per fillup. That's 2.82 tanks of gas per month, or $144.55 a month, which is a $72.26 savings in fuel charges per month (although that would disappear into the increased car insurance cost, haha).
So the 1.0L Fiesta would be a different story. With 12.4-gallon tank, the range would be 558 miles per tank, meaning I'd have to fill up less and at lower cost of $44.76 from empty. That's only 2.15 tanks of gas per month driving 1200 miles on average, which means my monthly fuel bill would be $96.23. Coming from the Volvo's $216.81 monthly average, I would save $120.58 monthly, or nearly $1500 a year in fuel savings.
So I'd really only need to fillup twice a month and it would only cost $100 a month to drive. That's pretty awesome!
While I wasn't able to configure the 1.0L online (it shows the SFE package on the main page, but not in the configurator), I did run the numbers for the SE hatch model: $16,550 total with a monthly lease of $138 ($1730 down, 24 months, 10.5k miles per year, would probably buyout at the end to skip the over-mileage issue). And that's not including trading in my Volvo, which KBB says is worth $2700 right now as a trade-in with current mileage & condition. Using the trade-in on a 5-year loan, that's still only $235, which is less than my $250 monthly budget. Plus 0% ARP for 60 months, $500 bonus cash, and whatever other garbage they want to throw in.
Plus, I'm not in any rush to upgrade, so I have time on my side. I heard that February (President's Day) is the best time to buy a car after the end-of-year slump, so I could easily wait. The Volvo could easily last me another 6 months or another 5 years. But, the transmission slips occasionally, the car has started making the occasional odd noises, and since I've seen the past 10 years of service records & costs, I know exactly how much it's going to be to continue to maintain it at a drivable level (previous owner averaged $3k/year in maintenance, yikes!). But it's also very well-maintained and has served me well for the past 9 months, it's just a bit of a hog on gas, but no worse than a truck I guess.
Anyway, definitely a cool ride & a nice option. If I can find a 1.0L locally, I'll definitely take it out for a spin!