Like a lot of people, I have a lengthy commute to work. As the price of gasoline continues to rise I have been thinking a lot about ways to save money on fuel. My wife and I have been carpooling to work, which means we can drive either her vehicle or mine. Hers is an SUV, and mine is something a little sportier. Mine gets better MPG, but runs on premium so it costs more to fill up. Neither one is cheap to drive, so we have thought about buying a third vehicle to be our work commuter. But, what would be the best option? We have considered buying a new compact, a new hybrid, a used sedan, or possibly buying a used diesel car and converting it to run on
waste vegetable oil. Each of these choices has a wide variety of costs involved and offers different benefits. To weigh out the options, I put together an Excel spreadsheet that compares the cost of fuel for each vehicle, and how long it would take to recoup the costs of purchasing another vehicle. I thought spreadsheet might be helpful for others, so it is available for download
here.
Just fill in the shaded cells with your vehicle choices, and compare the results. The other cells contain formulas that can be edited if you want to make the calculations based on different assumptions.
There are other expenses to consider such as insurance, and maintenance, but I think this is a good start.
