I created the following spreadsheet to help people calculate whether getting a new car makes financial sense as it relates to gas savings. The sheet has 2 functions:
- Based on the value of your current car (resale value, trade-in value, etc.) it will determine how long it will take you to make up the different in value in gas savings
- It will tell you how long it will take you to pay off the extra cost of a hybrid system (usually about $5,000). It will use the difference in mileage from your current car and the new car to determine your savings.
How to use it:
- Fill in all the fields under "Enter Information Here" ONLY. Do not do anything with the "Calculations" field. Your answers will be calculated there.
- The answers that you "care about" will be the last two rows.
- If you have any questions, please leave them as comments.
1 comment:
yup, definitely not worth it just yet to trade in my 30 mpg 2004 corolla..maybe when it's worth a little less.
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