If you’re considering the purchase of a hybrid vehicle like the Toyota Prius or fully electric vehicle like the Nissan Leaf or Tesla Model S, you’re probably well aware that these fuel efficient models come with a steeper price tag than similarly equipped vehicles with traditional gas or diesel engines.
You’re probably also aware that you might actually save money in the long run by paying less in fuel.
I’ve created this free Excel based fuel savings comparison calculator to help you calculate and compare the annual fuel savings between two different vehicles (whether the vehicles are hybrid or not).
The program is super easy to use. Not only will it project your annual fuel savings between two different vehicles, it will also calculate how long it will take you to “break even” (in years).
Instructions for MPG Fuel Savings Program:
1) Download Free Program: Click here to download my free fuel savings comparison calculator.
2) Open the Program: Double click on the file and it should automatically start if you have Excel installed on your computer.
3) Enter Price of Each Vehicle: In order for the program to make a comparison between the two vehicles, it needs to know the value or price of each. You should enter the cheaper vehicle’s data in the “Vehicle 1” spot.
4) Enter Your Est. Yearly Mileage: Enter the number of miles you expect to drive each year.
5) Enter the MPG Rating of Each Vehicle: This information is easily available online through the vehicle’s manufacturer or various other car information websites.
6) Enter the Average Fuel Cost Per Gallon: The last entry you need to make is the average price of fuel in your area.
7) You’re Done!: Once you’ve entered all the above information and click “enter”, the program will calculate your annual fuel savings and an estimate of how long it will take you to “break even” between buying a traditional gas powered car vs. a similarly equipped hybrid or electric model.
I hope you’ve found this fuel cost comparison calculator useful!
Note: The calculator does not calculate additional cost variables such as additional insurance costs, taxes, maintenance and other costs associated with more expensive vehicles.
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