I always like to look at how many trips I might make with the vehicle I already own outright compared to what a "better" mileage vehicle would cost. With some rough calcs on how much it would cost to drive your Taco round trip you could do 30-35 of those trips for what it would cost to buy a used Subi Crosstrek. Something to chew on. You can pay the man now or you can pay him later
When friends tell me they just spent $35K on this fantastic wizzbang hybrid to save gas and beat the price at the pump I smile inwardly knowing I can fill my current paid off daily drivers tank for 10 years at current fuel prices for what they paid for that thing and I have no car payment to make
I second this way of thinking and I’ll try to explain why. Like many, I drive a truck that’s currently paid for (2010 tundra) and have pondered getting something smaller and more fuel efficient as prices rise. The tundra has gone up in value with Covid and by selling it I could afford a newer, lightly used SUV, something like a 2018 Subaru outback for example. I really find numbers helpful in these situations so here’s the math I did to help with my decision.
My Tundra gets about 15 mpg on average (13 city, 17 highway). The vehicles I’d be looking at (non-hybrid smaller AWD SUV’s like the Subaru Outback) probably get about 28 mpg on average (let’s estimate 25 city and 31 highway). It’s worth noting that fully loaded with gear I’m guessing 22-25mpg would be more realistic for those SUV’s but I’ll stick with 28 to make the numbers favor switching vehicles.
I drive about 10,000 miles every year.
So 10,000/15 = 667 gallons of fuel for the tundra each year.
10000/28 = 357 gallons of fuel for the year in the smaller SUV.
When gas was $3.50/gallon it cost me $2,334 in fuel to drive my tundra, compared to $1,250 for the SUV, a savings of $1,084.
If gas hits $5/gallon this summer where I live then the tundra will cost me $3,335 compared to $1,785, a difference of $1,550.
Even if (God forbid) gas hit $8/gallon in the near future, I still think I’m choosing my tundra because the difference in fuel savings at $8/gallon is still only $2,480 ($5,336 for the tundra vs $2,856 for the SUV).
If you do something similar, you’ll find that going from a low MPG vehicle to a high MPG vehicle will save you about $1000 - $2000 in fuel for every 10,000 miles you drive at normal to moderately increased fuel prices.
For me personally, I’m happy to pay that extra amount for the capability a truck provides. For others, perhaps that amount of fuel savings is enough to consider switching, especially if you want other features of a newer vehicle or lower cost of ownership associated with smaller vehicles that have smaller engines.