Total Cost of Car Ownership Calculator
Add up what it costs to own a car over several years: the value it loses, plus insurance, fuel and upkeep. It shows the average cost per year. Loan interest and taxes are left out.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
Value lost is the purchase price minus the value the car still has at the end. Running costs are the yearly insurance, fuel and upkeep, multiplied by the number of years.
Add the two to get the total, then divide by the years for the average per year. Use your own numbers for each cost, since they vary by car, place and driver.
Worked example
A car that cost $32,000.00 and is worth $17,000.00 after 5 years costs $7,800.00 a year to own, or $39,000.00 in all.
Questions
What is a good value for the end of the period?
Look up resale estimates for the model and age you plan to keep. Values vary a lot by car and region, so use a figure you can check.
Does this include the monthly payment?
No. The price is already counted through the value lost, so adding the payments would count it twice. Loan interest is the only part of a loan that adds to the cost.
Why does the average fall as I keep the car longer?
The value lost is spread across more years, so each year costs less overall. Older cars often need more upkeep, though, so use realistic upkeep figures.
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