Struggling with math, please help
I need some help guys.
Mrs. Spiff complained tonight that she's tired of stopping at the gas station so often and how long would it take a newer, more fuel efficient car, to pay for itself. So I got to work when I got home trying to bring the numbers together.
I have a cost to own spread sheet where I track costs on the cars and know that hers costs $0.12/mile while my focus costs $0.06/mile. Figuring that she won't do as well as mine on the next car due to a more traffic heavy commute I'm guessing the next car will be $0.08/mile. With the value of her car I think we are looking at around $8200 out of pocket for something along the lines of 2014 Hyundai (sister bought one this summer for ~$14,000).
Wife's car is 2005 Subaru Legacy GT that runs on plus/premium, gets a pretty consistent 20.X mpg and she drives 25,000 miles/year. Something like a Hyundai I'm guessing would get 30 on the low side and runs on regular.
I can't wrap my head around the math to figure out how long it would take savings to total $8200. How many miles will the new car have to drive before we ACTUALLY save money? How much would we be saving per month with a smaller gas bill? I'm tired and frazzled and know I should be able to figure this out but something just isn't clicking tonight.
Thanks for any help you can provide.
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-Mike
2007 Ford Focus ZX5 - 91k - SGII, pending upper and lower grill bocks - auto trans
1987 Monte Carlo SS - 5.3/4L80E swap - 13.67 @ 106
2007 Ford Focus Estate - 230k - 33mpg - Retired 4/2018
1995 Saturn SL2 - 256K miles - 44mpg - Retired 9/2014
Cost to Operate Spreadsheet for "The New Focus"
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