Trading in your current car for one that’s more fuel efficient will usually cost more upfront, but depending on your car payments, gas consumption, and the new vehicle you’re considering, you can save in the long term.
In general, it’s wise to drive your current vehicle for a while — ideally at least 10 years — so that you can minimize the effects of depreciation, which can outweigh fuel savings.
If it fits your lifestyle, a moderately priced electric vehicle can lead to the biggest savings — plus, it’s the best option for the environment.
Ultimately, the decision comes down to your personal preferences and finances. The best car is the one that comfortably fits your budget.