gasmoney

AAA calculates the average cost of driving a new passenger car in 2004, 15,000 miles per year, is 56.2 cents per mile or $8,431 per year.

The largest cost is depreciation at $3,782 per year of ownership. The second largest expense is full insurance coverage averaging $1,603 per year.

Routine maintenance, including the manufacturer’s recommended maintenance operations, and tire expense is estimated to cost $915 per year. Fuel costs on that new car will cost $751 per year. A typical finance charge on a 5-year loan at 6 percent with a 10 percent down payment is $741 per year.

Calculate your commuting costs

Multiply your daily round trip commuting miles by the number of days you work per month.

Divide your commuting miles (1) by your average miles per gallon to obtain your gallons of gas used per month.

Multiply your gallons used per month (2) by the price per gallon of gasoline: __________

Multiply your commuting miles (1) by $.06 for maintenance, oil and tire costs: __________

Multiply your commuting miles (1) by $.25 for vehicle depreciation: ___________

Monthly parking costs: ___________

Multiply your commuting miles (1) by $.10 for cost of insurance: ___________

Total #3-7: ___________

Divide in half if you carpool with one other person: ___________

Or you could just take our word that you will save money, Saving both gas and the time it takes to do the math,