Spend a fortune taking your company vehicles to a mechanic every time the check engine light comes on? New electronic tools give you a quick diagnostic and estimated repair cost right on the spot! Ranging in price from $99 to $450, they fit in the palm of your hand, plug in under the dash, then into your computer, to tell you exactly what's happening with your ride.

CarMD (~$99) is designed to work on all 1996 and newer vehicles driven in the U.S., with on-board diagnostic second generation (OBD2) technology. This includes cars, trucks, minivans and SUVs – foreign and domestic, the newer hybrid vehicles, and in 2010 will include heavy-duty trucks and vehicles. CarMD’s online database gives drivers an easy-to-understand overview of the most likely problem and estimated repair costs.

Insight CS/CTS (~$430-$450) comprehensive gauge displays by Edge Products plug into your truck and provide continuous engine monitoring. The CTS features a built-in video port that allows users to connect the Edge back-up camera, enhancing safety.

DIYDiagnostics specializes in compact, cost effective, easy to use tools to retrieve and clear OBDII DTC's (Diagnostic Trouble Codes) that work with almost any vehicle manufactured from 1996 to present.

Check out what Leon “The Motorman” Kaplan has to say about these time and money saving devices on his appearance on Jay Leno’s Garage.

Note: First published in Aug 2010, we felt that this article was worth a second look in light of high gas prices and in reducing fleet costs.