I wrote what I consider a rather nifty calculator so you can calculate your actual wage! I play-tested it for about ten minutes, so it may not take every conceivable variable, so if you manage to break it, let me know. It also assumes that your car is used only for commuting, which is reasonable for two-car families, or poor people who don't go Sunday driving.
The functions to calculate are all rather simple, and this doesn't include yearly car expenses, such as oil changes, new tires, or other repairs. If you'd like, for accuracy, you can add your best guess for total vehicle maintenance cost (and yearly registration, for that matter) into the entire vehicle cost.
As I'm a strong proprietor of public transit, it's worth mentioning that transit doesn't necessarily save time in the long run, but the time you have is responsibility-free, so you can sleep, eat, work, or Skype your children while you travel, and if you do choose a bus or train, you're anywhere from 16 to 30 times more likely to survive the trip, and as stated here you can achieve the equivalent to hundreds of miles to the gallon.
Happy Commuting!
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