Car Ownership Cost Calculator
Calculate the total cost of owning a car including purchase, fuel, insurance, and maintenance.
Last updated: How it is calculated
Vehicle Details
Years. Zero means bought new. The depreciation curve is steepest in a car’s first three years, so buying a five-year-old car loses value far more slowly.
Financing
Leave the amount at zero if you paid outright. Interest is a real cost of owning the car, and most cost calculators leave it out entirely.
Total Cost of Ownership
- Total Cost of Ownership
- $47,440.07
- Monthly Average Cost
- $790.67
- Cost per Mile
- $0.79
What the 5 years are made of
Total Depreciation
Fixed Costs (Insurance + Tax + Parking)
Total Fuel Cost
Maintenance
Tips to Reduce Car Ownership Costs
- •Buy a fuel-efficient vehicle to reduce long-term fuel costs
- •Consider buying a 3-year-old car to avoid the steepest depreciation period
- •Perform regular maintenance to prevent costly repairs and maintain resale value
- •Compare insurance quotes annually and increase your deductible to lower premiums
How it is calculated
Formula
Total cost = depreciation + fuel + insurance + tax + parking + servicing + interest Fuel, metric = (total distance ÷ 100) × consumption × fuel price Fuel, imperial = total distance ÷ MPG × fuel price Interest = annuity payment × months − amount financed Monthly cost = total cost ÷ (years × 12)
Default assumptions
| Assumption | Value | Where it comes from |
|---|---|---|
| Depreciation, years 1–3 | 20 % per year on the remaining value | Estimate |
| Depreciation, year 4 onwards | 10 % per year on the remaining value | Estimate |
You can change every default above.
What this calculator does not account for
- The depreciation curve applies 20 % for the car’s first three years of life and 10 % after that. The age-at-purchase field starts it at the right point, so a used car is no longer depreciated like a new one.
- Loan interest is included as an annuity. Lease payments, down payments and balloon agreements are not.
- Tyres, inspections and major repairs have to go into the servicing figure yourself.
- Tax deductibility and company-car rules are out of scope.
About This Calculator
This comprehensive car ownership calculator helps you understand the true cost of owning a vehicle beyond the purchase price. It factors in depreciation, fuel expenses, insurance, maintenance, parking, and taxes to give you a complete financial picture over your ownership period.
How to Use This Calculator
- 1
Enter your vehicle purchase price and how many years you plan to own it
- 2
Fill in annual costs like insurance premiums, maintenance budget, and vehicle tax
- 3
Add fuel details: consumption rate (MPG), current fuel prices, and annual mileage
- 4
Review your total cost of ownership, monthly average, and cost per mile
Why Use This Calculator
Complete Cost Picture
See all ownership costs including depreciation, fuel, insurance, maintenance, parking, and taxes in one comprehensive calculation.
Compare Before Buying
Evaluate different vehicles side-by-side to find the most economical option for your budget and driving needs.
Budget Accurately
Know your exact monthly and per-mile costs to plan your finances better and avoid unexpected expenses.
Frequently Asked Questions
The calculator provides accurate estimates based on your input data. Actual costs vary by driving habits, vehicle condition, and local prices. Use current market rates and realistic mileage estimates for best accuracy.
Yes. This calculator applies 20% annual depreciation for years 1-3, then 10% annually after that. You will see an estimated resale value at the end of your ownership period.
One-time purchase fees, registration costs, and major unexpected repairs are not included. The calculator focuses on predictable, recurring ownership costs. Add major repairs to your maintenance estimate if anticipated.
Yes. For EVs, estimate your energy cost by using your real kWh consumption and local electricity rate, then enter an equivalent per-distance cost. Maintenance can differ by model, so use your own service history or provider estimate.
The answer depends on your local prices and usage. Run this calculator for car costs, then compare that total with your annual transit passes and typical ride-sharing spend. The lower total cost for your own scenario is the better financial option.
Commonly missed costs include parking, tolls, registration, inspections, cleaning, financing costs, and depreciation. Add each of these with your own local numbers so your total ownership estimate reflects real out-of-pocket cost.
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Disclaimer: This calculator provides estimates for planning purposes only. Actual costs may vary based on your circumstances, location, and market conditions. Not financial advice. See our Terms of Service for full disclaimers.