Thank you guys. Blumie - to answer your question, I don't know. I saw this offer on Hotwire for $85 at a 4 stars hotel and I was tempted. I haven't booked it yet but I think that I will be better off staying in the city. Just wanted to get some "feel" for the area.
If you are visiting Boston itself, public transportation won't be very convenient from Saugus to downtown and the traditional tourist or business areas. Your savings will be eaten up with taxis or parking if you rent a car. Now possibly Hotwire is picking up an airport hotel as Logan is not that far from Saugus (go here for Hotwire hotels
http://www.betterbidding.com/index.php?showtopic=69& ). An airport hotel would not be terrible for a visit to downtown Boston especially at $85 per night, but it is much nicer to be able to walk out your hotel door and either walk or hop on the T to get to your destination.