How Much Will Your Next Car Really Cost to Fuel?
Written By
Lewis C. Smith
Published
Oct 3, 2023
Discover the true cost of fueling your next car. Beyond the price tag, factor in fuel expenses to make an informed decision.
Comparing Fueling Costs Across Different Vehicles
Buying a car? There's more to think about than just the sticker price! Let's chat about fuel costs—basically, what it's going to cost you to drive around town and take those fun road trips.
A One-Stop-Shop Tool for Comparing Cars
Ever wish there was an easy way to figure out how much it might cost you to drive a particular car? Good news! The U.S. Department of Energy has a super handy tool (or calculator) that can help you figure that out. This tool is part of their https://www.fueleconomy.gov/ website.
🚗 Fun Fact: Including your current car in the comparison (if you have one) can give you a helpful look at how your future car might save you money (or not) compared to your present one!
Making it Relevant to You
As noted in the example screenshots below, there is a "Personalize" feature where you can input approximately how many miles you drive and what fuel costs in your region. So, whether you drive 5,000 or 30,000 miles a year, or you want to estimate fuel expenses with potentially higher fuel costs, the tool can take that into account.
What About Those Electric and Plug-In Hybrid Cars?
Since electricity rates will be an important component for Electric Vehicles or Plug-In Hybrids, you will want to adjust that under the "Personalize" section as well. It is easy to miss, so please see the example screenshots below.
Also you may want to verify with your local utility, if you will be charging at home, what your rate options will be. Many utility providers have varying rates over the course of the day, and have the cheapest rates in off-peak hours. Ideally you will be able to schedule your car to charge in the off-peak hours, however, if for some reason that won't be an option, you will want to factor that in the higher rate.
Similarly if you won't have the ability to charge your vehicle at home and you will be reliant upon publicly available charging stations, you will want to verify both availability the rates in your area. Electrify America is a helpful resource to find their charging stations near you and get their rate structure. You can also look at this website from the U.S. Department of Energy which lists chargers from different providers, but to get the rates, you will need to look at the provider websites.
If you want to get more granular about fuel costs with Plug-in Hybrid cars, see the section below about the Plug-in Hybrid calculator.
Ready to Take a Test Drive?
Choosing a car can be a big decision, but having the right tools and info can make it a whole lot easier. And understanding how much it's going to cost you in the long run? That's a major key to happy car ownership.
With this tool, you’re not just seeing the costs now, but you’re getting a sneak peek into your future drives too. So before you pick your next set of wheels, spend a little time with the tool. It'll help you steer in the right direction for your wallet and your adventures on the road!
Getting More Granular Fuel Cost Estimates for Plug-In Hybrids
Navigating through the fuel expenses of a plug-in hybrid car might seem a tad complicated due to the mixture of both electric and gasoline power. But worry not, we're here to help break it down in a straightforward way!
Picture two plug-in hybrid drivers: One drives 45 miles each day and recharges every night, while the other drives under 25 miles and only charges occasionally throughout the week. They're both bound to have different fuel costs, right? Absolutely, and understanding these variances doesn’t have to be a headache.
The U.S. Department of Energy through their FuelEconomy.gov website has created a tool to help sort through these differing scenarios, giving a clearer picture of potential costs. If you want a really precise estimate, you'll want to opt for the "Detailed Driving Form". Let’s get into the details:
Simple Driving Form: This option is straightforward and provides a general cost estimate based on your everyday and yearly driving habits.
Detailed Driving Form: This deeper dive asks you about your specific driving and charging habits to provide a closer look at your potential fuel costs. Here’s what it wants to know:
Everyday Drives: How many miles are you driving, how many days a week, and how often are you charging the car? How much of this is in heavy traffic?
Weekend Drives: Similar questions about your less regular driving habits, often on weekends.
Lengthy Trips: How often and how far are you traveling on longer journeys? How is the traffic, and how often can you charge the car during these adventures?
Inputting this info, the website calculates an estimate of your gasoline and electricity use, providing a handy estimate for plug-in hybrid drivers and clearing up potential questions about their specific driving habits and fuel costs.
For a clearer understanding, check out the step-by-step guide in the screenshots below, or dive right in by clicking here to try the tool yourself!
Conclusion: An Informed Decision
Smart car shopping means knowing your options and costs. It's not just about gas cars anymore—with electric and hybrid vehicles in the mix, understanding how much you'll spend on fuel is key. The sticker price of a car is just the start; getting a handle on what you’ll actually spend to drive it matters too. Nobody wants a new car that’s too expensive to fill up or charge. With a bit of knowledge about the different kinds of cars and their fuel costs, you can choose a ride that fits your budget all around.