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Old July 28th, 2012, 10:49 PM   #1
curbdog17
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math problem

I have a truck that gets 10mpg.
I buy a car that gets 20mpg.
I paid $10,000 for the car.
Gas is always $3.50/gallon.
How many miles do I need to drive before the car starts to save me money?
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Old July 28th, 2012, 10:57 PM   #2
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You would pay for the car by driving 28,572 miles.
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Old July 28th, 2012, 11:35 PM   #3
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not including depreciation?
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Old July 29th, 2012, 01:11 AM   #4
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im selling a car that get 25+ for a little over a 1/10 the price
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Old July 29th, 2012, 05:42 AM   #5
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Quote:
Originally Posted by Jhoskins View Post
You would pay for the car by driving 28,572 miles.
How do you set this problem up on paper? I came up with a different answer.but mine was exactly 2x your answer.
I figured that every time I drove 20 miles in the car vs the truck I would save 1 gallon of fuel, so I used 20 over 3.50= X over 10,000.them I cross multiplied and figured out X.
X = 57,143.
Did I do this wrong?
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Old July 29th, 2012, 06:35 AM   #6
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This is the way I set this problem up:
10,000 (price of vehicle) divide by 3.50 (price of gal gas)
10,000/3.50=2,857
Since the car gets 10mpg more than the truck you need to multiply by 10
2,857 (gallons of gas) multiply by 10 (miles per gallon better than truck)
2,857x10= 28,570
You have to drive 28,570 miles to break even, not taking anything else into consideration.
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Old July 29th, 2012, 06:37 AM   #7
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Quote:
Originally Posted by curbdog17 View Post
How many miles do I need to drive before the car starts to save me money?
By this statement, you will START saving money the first mile that you drive it.
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Old July 29th, 2012, 06:45 AM   #8
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Quote:
Originally Posted by af26yrs View Post
By this statement, you will START saving money the first mile that you drive it.
I will not have saved any money until I get the 10,000 I paid for the car back out of it.
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Old July 29th, 2012, 07:06 AM   #9
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How much is the truck worth? And are you keeping it or selling it?
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Old July 29th, 2012, 07:09 AM   #10
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Quote:
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How much is the truck worth? And are you keeping it or selling it?
truck is paid for and being kept.
not sure if the value of the truck is a factor.
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Old July 29th, 2012, 07:14 AM   #11
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Fawkin' algebra, eh:

10,000 + [(3.50/20)x] = Truck value + [(3.50/10)x]

That is the break even point if your comparing the two. X is the miles need to be driven, solve for x. I think that's right but I'm hung over.

Last edited by Ebs; July 29th, 2012 at 07:35 AM.
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Old July 29th, 2012, 07:28 AM   #12
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Quote:
Originally Posted by Ebs View Post
Fawkin' algebra, eh:

10,000 + (3.50*20*x) = Truck value + (3.50*10*x)

That is the break even point if your comparing the two. X is the miles need to be driven, solve for x. I think that's right but I'm hung over.
I dont understand how the value of truck is a factor, because all the truck will cost me is fuel. and I would not sell the truck.
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Old July 29th, 2012, 07:41 AM   #13
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Okay, I got ya. It should be the same minus factoring in the truck value.

10,000 + (3.50/20)x = (3.50/10)x

I think that is your break even point then.
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Old July 29th, 2012, 07:43 AM   #14
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Since you are keeping the truck, and presumably the insurance, also adding insurance to the car you have to factor in these costs as well. This is why I havent bought the smaller car yet. I think I can buy alot of gas for the ole truck and still be "ahead" of the game.
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Old July 29th, 2012, 07:50 AM   #15
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Quote:
Originally Posted by Bullhed78 View Post
This is the way I set this problem up:
10,000 (price of vehicle) divide by 3.50 (price of gal gas)
10,000/3.50=2,857
Since the car gets 10mpg more than the truck you need to multiply by 10
2,857 (gallons of gas) multiply by 10 (miles per gallon better than truck)
2,857x10= 28,570
You have to drive 28,570 miles to break even, not taking anything else into consideration.

This is how I got my answer. No is does not take alot of stuff into factor but this says once you drive 28,572 miles, you would have saved $10k in fuel savings alone, which was the cost of the car.
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Old July 29th, 2012, 08:06 AM   #16
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image the gas savings if you would have bought a bicycle instead of the car, and been able to buy more beer
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Old July 29th, 2012, 08:06 AM   #17
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Quote:
Originally Posted by Gr8wht2000GMC View Post
Since you are keeping the truck, and presumably the insurance, also adding insurance to the car you have to factor in these costs as well. This is why I havent bought the smaller car yet. I think I can buy alot of gas for the ole truck and still be "ahead" of the game.
Chevy K1500 16mpg
Insurance $50
$3588 / Year in Gas
$299 / Month in Gas

Ford Five Hundred 26mpg
Insurance $50
$2207 / Year in Gas
$184 / Month in Gas
@
16400 Miles / Year
Gas at $3.50 / Gallon

= $65 Savings per month by only driving the ford 500, saving includes insurance on the 500.

This was my actual situation.
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Old July 29th, 2012, 08:19 AM   #18
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In the end not worth buying the car. Save the 10k you already have the truck. It is paid for. Have a good day
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Old July 29th, 2012, 08:29 AM   #19
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Drive the truck to your local ghetto. Leave it unlocked.
Next day you just saved a shit load of money.
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Old July 29th, 2012, 08:30 AM   #20
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I hate math.
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