Commute to work: 45 miles round 4 days / week 48 weeks / year. Just under 9,000 miles per year. My 1997 S-10 gets 25 mpg. 360 gallons of gas per year. @ $3 per, that's $1,080 per year for fuel. Add in two additional oil changes per year at $30 each (I do my own maintenance). Tires last about 40k, so add the cost of 1/4 of a set of tires ($100). Total per year for commute costs: $1,240.
My Honda gets 50 mpg. 180 gallons of fuel per year @ $3 per is $540. Add in three oil changes at $50 each ($150). Tires on the Honda last about 10k, so add one set of tires per year @ $300. Total per year for commute costs: $990.
The absolute maximum you can save is $350, about the cost of the insurance you will have to pay on the bike. If you have any maintenance on the bike, it will cost 3-5 times as much as equivalent maintenance on your truck. And it will be required about twice as often.
If you want the bike, go ahead and buy the bike. But you will not save enough money on fuel to make a dent in your finances.
Just my 2¢.
My truck gets about 12 - 16 on a gallon of diesel. We’ve just gone up to about $4 to the gallon. Even if I’m only getting 40 to the gallon of gasoline (cheaper than diesel) I think I’m doing a bit better.
Your analysis is spot on. I went through a similar one to realize that I was financially better off with one extended cab pickup than I was with another vehicle that got good mileage. The extra insurance, licensing, and capitol costs are nearly impossible to overcome with better mileage.
I did spend $20 on a nearly new set of tires for my bike, which I believe I will recoup in a few months of short haul convenience runs. About 5x/week at 1/2 mile = 2.5 miles per week, 10 miles a month, or $2 a month in saved gas... make that 10 months to break even. But, as with motorcycles, I enjoy riding the bike, and it gives me a tiny bit of exercise. (I do high level cardio three times a week, so it doesn't do much)
depends on your gas mileage. in my truck that got 11.2mpg is was worth it to ride for the summer.
gas saved more than covered the payments, the insurance and the extras.