Save money as well as the environment

According to the Sightline Institute an economy car releases 0.59 pounds of carbon dioxide per mile , loosely converted that is about 0.16 kg/km . As per my commuting logs till the end of September I rode about 3200 kms with an yearly projection of about 4300 kms. Simple math shows that for my commute I would be releasing 688 kgs of carbon lesser than my neighbour who makes a similar commute using a car instead of cycling .
If we assume that his car gives about 10km/ltr of city driving using 95 grade petrol at 5.20 NIS/ltr he would be spending 2236 NIS or $ 527 dollars on the gas . The insurance would put him back another 2500 NIS or $ 588 (Compulsory and third party insurance only ) , the license for the car would cost him about a 1000 NIS or $ 235 . Maintainence of the car would set him back $ 150 ( based on AAA's very conservative estimate of 0.056 $/mile ) . To sum it up, using a car for a very basic commute of 15-20km round trip would cost my neighbour $ 1500 . This doesn't include the initial cost of the car , depreciation , parking fees , the occassional parking fine and the inevitable big repairs .
Now what's stopping me from buying the Trek Madonne ridden by Lance Armstrong ? I can easily make up the cost of the bike in three years by riding to work . I can also take a longer ride everyday and save more :-) .