So I did a little work and have produced this Gas Savings Calculator

This spreadsheet requires you to simply enter 4 different numbers and you can see if your bike has paid for itself in gas savings, there are a few things to consider however.

For the first cell, you want to enter your distance by CAR. Your bike can take shortcuts, or the long way around. Your car has to go a certain path to and from work and it's that distance your car drives and uses gas on.

The gas price is pretty obvious. I also know that gas prices fluctuate throughout the year, so the mile by mile/day to day savings will be a little off, but this gives you a general yet fairly accurate idea.

Last but not least, I know gasoline isn't the only cost in owning a car. There is the wear and tear and inherent maintenance costs -the same can be said of your bike, although tires for a bicycle as opposed to your car will be significantly cheaper. Then there's insurance etc etc, the list goes on. The idea is to calculate how much you save in gas only.

Future updates may include a place to enter your insurance premium and car payment for those who don't own a car period, as a bike would pay for itself exponentially faster. Enjoy!

For what it's worth - it would take me over 4 years of cycling to and from work instead of taking my Accord to pay for my bike - post your results!

Both my fenderbeast and road bike are rebuilt dump rescues with about $50 into each. They each paid for themselves in about two weeks even if you just look at fuel savings.

Both of my bikes were bought new, for a total cost of $859. The first bike has paid itself off for the simple fact that cutting out car insurance and gas saves me nearly $400 alone. The Globe was a bit more expensive ($500 vs $300) but will still pay itself off next month.

Mine has already in two months..it was $500 new.
I wish the infrastructure was more bike friendly here and I could save even more.

Mine paid for itself in a few months since I went car-free at the time. No insurance, maintenance, gas etc. Now however, even though I ride in 85%-90% of the time I need to recalculate. I do have a car, and when I cycle in the wife has it. Naturally she uses it, and when she does she tends to shop. So I'm not really sure I come out ahead by cycling to work.

I believe I figured something like 3-4 years before the bike pays for itself in gas...

Mine has absolutely paid for itself...but not in gas savings. It got me into cycling and a healthier lifestyle. As a result I look and feel a lot better. Can't put a price on that sort of thing.

It is paying for itself in gas savings too. I love driving my car but it burns a lot of gas!
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Any fuel savings are negated by the acquisition of bike accessories...

Yes, no question about it.

Edit: I used to have a car payment that was $350 + tax, which is about $400. On top of that I paid about $130 a month on insurance. So that is $530 a month, and that does not include fuel costs. I could have bought a $5000 Di2 equipped bike and still come out on top.

Yes; just with my health improvement.

With respect to fuel savings - 1.2 gallons saved each day I ride to work instead of drive. That adds up pretty quickly at ~$4- per gallon here. And, we are now only using less than 10 gallons per month running the various errands needed to be run with a vehicle.

Yeah, gas alone is no catalyst for change. Now, the insurance savings and far less maintenance costs? I come so far ahead that it is nuts.

I keep telling my bikes to go out and get jobs so they can pay for themselves, but they never do. Oh well, I still love them.

This is the best response.

Nope, but that is because I put way too much into my bike . lol I started to bike because I wanted to be healthy, didn't consider gas saving. We used to spend 60 per week on gas, now we can stretch it for two weeks so def worth it. Plus less driving equals less of a chance of getting into accidents which translates into insurance cost savings. Def worth it if you ask me. Just the feel good factor would do the trick .

Mine should in time, I just assembled my schwinn network 7 yesterday. I'm a newb and commuting by bike is my way of giving my mother her car back hehe

My Specialized Hard Rock was a freebie. It helped me pay off 20K in credit card debt and save another 20K in just a few years. Do the math.

I wish my bike would have paid for itself... but I paid for it.

What he said..

+ additional bikes

I have never been a driver so I look at this differently. It costs $121 a month for a transit pass in my city, so in a year that is $1452. I try not spend more than that a year for a bike and accessories. Most years I am ahead. This year I bought two bikes so it may take another year to catch up. Plus as others have said you can't put a price on health benefits.

bikesdirect dawes sst - $325
new stem and freewheel so old guy can ride machine designed for hipsters - $50
fenders - $35
rear rack - $35
front basket - $25
nightrider 250 lumen front light - $130
dinotte rear light - $200
knog drydog panier/messenger bag - $100
kryptonite u-lock - $35
outlier 4 seasons trousers - $180
north face moutain light gortex jacket - $300

physical and mental health gained by bike commuting - priceless

At least the bike accessories can be transferred to another bike years later, plus the accessories can be used many times, some attributes that gasoline doesn't have.

If I can get the flats under control, my new Giant Defy 2 will pay for itself in 6 to 7 months in gas savings alone. And as others have said, there is no price that can be weighed against the health and sense of well- being that I get when I make my 13 mile daily commute. BTW, I just started a month ago and I'm hooked. At 52, I'm a new bicycle commuter. How strangely wonderful is that?

Who cares? I'm healthier, having more fun, and am not polluting so much. Money? That's secondary...

A parking pass at my downtown office is $1000/year, and bike parking is free, so my bike bought used in 2005 has paid for itself a dozen times over just in parking costs.

paid $80 bucks for my bike, my company pays us $20 a month to bike to work so its paid for itself quick!!!!!