If you are only insuring the honda now, and are thinking of switching to only insuring the toyota, math applies:
assumptions (change these for your situation, if they're different)
honda gets 30 mpg
toyota gets 18 mpg
gas costs $3/gal
honda insurance = $250/mo
toyota insurance = $170/mo
the math:
the 30mpg honda costs $.10/mile in gas to drive
the 18mpg toyota costs $.166666/mile in gas to drive
insurance savings would be $80/mo
.1x=.16666x-80
.06666x=80
x=1200 miles per month
Translation:
X is the critial break-even point for your insurance versus gas mileage. If you drive LESS than 1200 miles a month (14,400 mi/year), the Toyota costs less to drive. If you drive MORE than 1200 miles a month, the honda costs less to drive.
Rescenario: maybe your honda gets 35 mpg, then the critical mileage is 988 miles per month (11,856 mi/year).
Either way, wheeling has never been about saving money. That said, for a number of reasons, I think you should dd the truck, sell the honda, and get out of debt.
