You are trying to decide whether to keep your old job and your old car or take a new job and purchase a new car. You only use your current car to drive between home and work, which is currently a 44-mile journey each month. You spend $400 on insurance every 3 months. You also find that you are spending $9.00 per mile in gas and maintenance. You do not make any monthly car payments for your old car. You pay rent of $3,125 per month, and your average electric bill is $187 per month.

You have found a new job that pays $8,898 more per year; however, it is a 701-mile round trip journey to and from your house each month. If you take the job you will need to buy a new car. The new car would be electric and would not have any fuel or oil costs. You would pay $717 per month in new car payments. Based on increased electricity use your costs per mile are $3.00 per mile driven, reflected as additional charges to your typical electric bill. Finally, your monthly insurance payments would increase by 60%. If you take the new job, how much would your net annual costs increase or (decrease) per year?