Being a bean counter I figured here are my savings by biking.
No Car Payment $3600
Parking Fees at work 720
Misc (car washes etc) 200
Less Bike (one time investment) 500
Clothes Lights Helmet Etc 200
TOTAL SAVINGS YEAR 1 $6420
Furthermore I'd have to earn about $10500 before tax to have $6420 take home pay to pay for the car. It's like I've just given myself a $10,000 raise. Also if I was driving I'd be riding each night for fitness ( 1 hour). It takes me a total of 15 min extra to ride to work than drive round trip. Thus I "save" 50 hours almost 4 hours a week I can spend with my wife and kids by making my commute my fitness time instead of 1 hour each evening.
I can't put a dollar amount on lower stress fitness etc but add this to the pot and biking to work keeps making more and more sense.