As the price of gasoline fluctuates, many question whether it makes financial sense to trade-in a “gas guzzler” for a more fuel-efficient car. There are many factors that go into that decision, including the cost of the new vehicle, the amount of miles you drive and the cost of fuel. You can calculate your monthly fuel savings based on your miles driven per month, cost of fuel, and the miles per gallon of both your current gas guzzler and fuel efficient car. You can also estimate how many months of fuel savings would cover the purchase price of the fuel efficient vehicle purchase.
Use this calculator to find out how much you might save with a fuel-efficient car.