Cost Of Fuel For Your Vehicle - Gas Mileage Worksheet

Cost of Fuel for your Vehicle

To determine if it will save money to replace your vehicle with

one that gets better gas mileage, start by finding the miles per

gallon for your car and for the vehicle you are interested in

purchasing. Then estimate the total number of miles you drive

every month. When you have these numbers it is time to do the

math to see how much, if any, you will save.

Fill in the blanks in the table. The top line is for the vehicle you own and drive now. Divide the estimated

total miles you drive each month by the miles per gallon your vehicle uses (either calculate or use EPA

estimates). This gives you the approximate number of gallons of fuel used to drive that distance. Multiply

the number of gallons used by the price per gallon for the fuel used for your current vehicle.

Now calculate the amount of money you would spend on fuel for a vehicle you are considering buying by

following the same steps. Fill in the second line with information for the vehicle you are considering.

Subtract the total of the second line from the total of the first line to show the amount of money saved per

month on fuel for your vehicle.

example

Total miles driven

÷

miles

x

fuel price

=

total cost of fuel

per month

per gallon

per gallon

per month

Current

750

÷

15

x

4.52

=

$226

vehicle

New

750

÷

47

x

4.52

=

$ 72.15

vehicle

Subtract to show amount saved per month on fuel costs

$153.85

Use this chart to figure your fuel costs:

Total miles driven

÷

miles

x

fuel price

=

total cost of fuel

per month

per gallon

per gallon

per month

Current

÷

x

=

vehicle

New

÷

x

=

vehicle

Subtract to show amount saved per month on fuel costs

Now that you know the amount of money you would save by switching to a vehicle that gets better gas

mileage, it is time to look at whether the amount of money that can be saved on fuel would be enough to

cover the costs of purchasing a different vehicle.

Find the cost of the vehicle you would like to purchase. $________

If you need to finance the vehicle, figure out the monthly payment.

_________

Add the cost of car insurance for this vehicle (Annual amount ÷ 12)

_________

Add registration fees, licensing fees, taxes (Total amount ÷ 12)

_________

Total

_________

Now compare the amount of money saved on fuel by purchasing a vehicle that gets better gas

mileage to the cost of the new vehicle to see if it is financially feasible. Then evaluate your

reasons for purchasing a different vehicle. Factors such as concern for the environment, a need

for a smaller or larger vehicle, or a current vehicle that is unsafe may be a part of your decision.

University of Alaska Fairbanks Cooperative Extension Service programs are available to all without regard to race, color, age, sex, creed, national origin, or disability and in accordance with all applicable federal

laws. Issued in furtherance of Cooperative Extension work, acts of May 8 and June 30, 1914, in cooperation with the U.S. Department of Agriculture, Pete Pinney, Interim Provost for Outreach and Director of

Cooperative Extension, University of Alaska Fairbanks.