Fuel Efficiency Breakeven

Should I upgrade to a more fuel efficient vehicle?

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 will it take you to recover the out-of-pocket costs you incur with the purchase of a new vehicle. Use this calculator to help determine your breakeven period.

Gasoline Assumptions

Gasoline cost per gallon ($) Miles you drive each day (0 to 999999999) MPG (old vehicle) (0 to 999999999) MPG (new vehicle) (0 to 999999999)

Cost Assumptions - Old Vehicle

Current monthly payments (old vehicle) ($) Number of payments remaining (1 to 360) Anticipated sales price ($)

Cost Assumptions - New Vehicle

Estimated monthly payments (new vehicle) ($) Number of months (1 to 360) Down payment or sales price (if paying cash) ($) One-time taxes/registration/fees ($) State/Federal income tax credit (if applicable) ($) Click here for IRS fuel efficient tax credit table

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