Should I upgrade to a more fuel efficient vehicle?

Gasoline Assumptions

Gasoline cost per gallon ?

The current price you pay per gallon of gas.

Miles you drive each day ?

Your typical daily driving distance.

MPG (old vehicle) ?

Fuel economy of the vehicle you currently drive.

MPG (new vehicle) ?

Fuel economy of the vehicle you're considering.

Cost Assumptions - Old Vehicle

Current monthly payments (old vehicle) ?

What you're paying each month on your current vehicle, if anything.

Number of payments remaining ?

How many monthly payments are left on your current vehicle loan.

Anticipated sales price ?

What you expect to get for selling or trading in your current vehicle.

Cost Assumptions - New Vehicle

Estimated monthly payments (new vehicle) ?

Expected monthly loan payment for the new vehicle.

Number of months ?

Length of the loan term for the new vehicle.

Down payment or sales price (if paying with cash) ?

Cash you put toward the new vehicle upfront.

Advanced options 2

One-time taxes/registration/fees ?

Upfront taxes, title, and registration costs for the new vehicle.

State/Federal income tax credit (if applicable) ?

Any tax credit you expect to receive for buying a fuel-efficient vehicle. <br><a href='https://www.irs.gov/businesses/plug-in-electric-vehicle-credit-irc-30-and-irc-30d' target='_BLANK'>Click here for IRS fuel efficient tax credit table</a>