Who remembers the good ol' days when you could get gas for under $3.00 a gallon? If you are looking at buying a car
, chances are fuel economy is a pretty important metric. Nearly every economist predicted that gas prices would rise with the easing of Covid-19 restrictions. But few were able to predict that Russia would invade Ukraine, further driving up prices at the pump. Skyrocketing gas prices will undoubtedly impact the car market today. That's why the experts at Consumer Reports
provided some guidance on how to best evaluate personal finances with a new car's fuel economy. Many drivers believe that downsizing is the only viable way to save money on gas costs, but that may not be the case.
Can you save money on gas while keeping the same vehicle size?
Believe it or not, you may be able to reduce your gas costs without having to say goodbye to driving a truck or SUV. This, of course, comes with a lot of caveats, but there is a good chance you can save money on gas while keeping a larger vehicle.
This is especially true if your current car is at least 5 years old. Carmakers always try to improve fuel economy with each year-end model. For drivers, the cost savings can really add up when trading in an old car.
For example, Consumer Reports found that a 2022 Honda Odyssey will save the average driver $110 in gas expenses compared to a 2017 Honda Odyssey.
Similar savings can be found with nearly any make and model. Of course, nobody is going to be thrilled about saving $100 a year when that comes with a new car loan. But going electric can be the real cost saver for most drivers.
Hybrids are a great way to save money on gas
MORE: A Small Percentage of Drivers Burn a Third of the Gas
While many legacy carmakers will have fully electric SUVs and trucks this year, some drivers may be hesitant to give them a try. That's fine, as hybrids provide a great middle ground.
Take, for example, the Toyota Sienna, which comes standard as a hybrid. This minivan gets a jaw-dropping 36 MPG. Should you trade in that '17 Odyssey for a new Sienna, you would save about $1,010 in gas expenses (assuming that you drive 11,000 miles a year and pay $4.25 per gallon).
Downsizing will bring even more savings
MORE: The Least Fuel-Efficient Subcompact Car Will Cost You $3,000 a Year in Gas
The old adage of going smaller to save money on gas still rings true today. If you have fewer passengers to haul around or don't really need that third row of seating, downsizing can bring you even greater savings.
Say, for example, that you own a 2017 Chevy Traverse. If you could tolerate a smaller Toyota RAV4, then you would save about $1,300 a year in gas expenses. If you really want to save on fuel, you could go for the Highlander Hybrid and save $1,730. Again, all assuming that you drive 11,000 miles a year and pay $4.25 per gallon.
At the end of the day, saving money on gas is driver-specific. It will depend on your driving habits, what you require from your car, and your regional gas and energy prices.
While there is no one-size-fits-all for saving money on gas, there is a simpler way to save money on car insurance.
Save money on car insurance no matter what car you drive
While saving money on gas does require building some spreadsheets, there is a much easier way to save on car insurance. That's where Jerry
comes in. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance. Jerry will even help you cancel your old policy. 
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