Interested in a Fuel Efficient Car?

It may make financial sense for you to sell your current vehicle and purchase one with better gas mileage. Taking into account the monthly savings at the pump, the financial question is how many months it may take you to recover the out-of-pocket costs you incur when purchasing a new vehicle. Use this calculator to estimate your potential breakeven period.
Gasoline Assumptions
Gasoline cost per gallon ($) 
Miles you drive each day 
MPG (old vehicle) 
MPG (new vehicle) 
Cost Assumptions - Old Vehicle
Current monthly payments (old vehicle) ($) 
Number of payments remaining 
Anticipated sales price ($) 
Cost Assumptions - New Vehicle
Estimated monthly payments (new vehicle) ($) 
Number of months 
Down payment or sales price (if paying with cash) ($) 
One-time taxes/registration/fees ($) 
State/Federal income tax credit (if applicable)
Click here for IRS fuel efficient tax credit table ($)		 
   
This is a hypothetical example used for illustrative purposes only. Actual results will vary.

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