How to Measure Fuel Economy Vs. Price
Fuel economy is a trait that describes the distance a car can travel given a particular amount of fuel -- e.g., 26 miles per gallon. Including fuel economy in your considerations when buying a new or used car is important because it tells you how much you can expect to pay for the continued use of the vehicle. For example, an SUV that gets 26 miles per gallon is average given the fuel economy ratings developed by the Environmental Protection Agency; this particular SUV would offer no advantage or disadvantage from a fuel economy standpoint. However, an SUV that gets 10 miles per gallon would be costly to own, making it a poor choice even if the sale price is less than the other SUV.
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Instructions
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Select two or more vehicles to compare. List the year, make and model - -e.g., 2010 Saab 9-5 Sedan AWD compared with the 2008 Dodge Challenger.
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Look up both vehicles on FuelEconomy.gov or in the Fuel Economy Guide produced by the U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy and the U.S. Environmental Protection Agency.
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Write down the miles per gallon and annual fuel cost. Select the city, highway or combined miles per gallon figure based on the driving conditions you expect -- e.g., 20 mpg costing $2,858 a year for car A versus car B which has15 mpg and costs an estimated $3,812 a year.
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Calculate the difference in annual fuel cost -- e.g., car B costs $954 more a year.
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Look up the value of both cars online or at a car dealership.
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Calculate the difference in sale price between the cars -- e.g., car A costs $5,000 less than car B.
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Measure the immediate cost against the long-term cost -- e.g., car B is more expensive to purchase and operate. The first year it will cost about $6,000 more than car A.
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Evaluate the advantages and disadvantages other than price and fuel economy. Select a car.
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