Calculator Inputs
Example Data Table
| Input item | Example value |
|---|---|
| Vehicle price | $32,000.00 |
| Down payment | $7,000.00 |
| Sales tax rate | 6.50% |
| Fees | $900.00 |
| Loan APR / term | 5.90% / 60 months |
| Ownership period | 5 years |
| Annual miles | 12,000 miles |
| Fuel price / efficiency | $3.80 / 30 mpg |
| Insurance | $1,800.00 per year |
| Maintenance and repairs | $1,050.00 per year |
| Other annual items | Registration, parking, tolls, tires, washing, other |
| Expected resale value | $14,500.00 |
Formula Used
Sales tax amount: Vehicle Price × Sales Tax Rate
Loan principal: Vehicle Price − Down Payment
Monthly payment: P × r ÷ (1 − (1 + r)−n)
Remaining loan balance: P(1 + r)k − M × [((1 + r)k − 1) ÷ r]
Annual fuel cost: Annual Fuel Used × Fuel Price
Depreciation cost: Vehicle Price − Expected Resale Value
Operating total: Sum of fuel, insurance, maintenance, repairs, registration, parking, tolls, tires, washing, and other costs over ownership.
Total ownership cost: Depreciation + Taxes and Fees + Interest During Ownership + Total Operating Cost
Cost per mile: Total Ownership Cost ÷ Total Miles Driven
Cash-flow verification: Upfront Cash + Loan Payments + Operating Costs − Net Sale Equity
How to Use This Calculator
- Enter the vehicle purchase price and your planned down payment.
- Add sales tax, title fees, and other purchase-related charges.
- Fill in financing details, including APR and loan term.
- Set ownership years, yearly mileage, and expected resale value.
- Choose the fuel efficiency method and enter fuel price.
- Add annual insurance, maintenance, repairs, parking, and other costs.
- Apply an operating inflation rate if future costs may rise.
- Press the calculate button to show results above the form.
- Review summary metrics, the cost table, and the graph.
- Use the CSV or PDF buttons to save your report.
Frequently Asked Questions
1. What does total ownership cost include?
It includes depreciation, purchase taxes, fees, loan interest during your ownership period, fuel, insurance, maintenance, repairs, registration, parking, tolls, tires, washing, and other yearly expenses.
2. Why is depreciation important?
Depreciation is often the largest hidden cost of ownership. Even with low fuel or maintenance costs, a vehicle that loses value quickly can become expensive overall.
3. Does the calculator work for cash purchases?
Yes. Set the down payment equal to the vehicle price or use a zero loan amount. The calculator will remove financing costs and still estimate total ownership cost.
4. What is net sale equity?
Net sale equity is the resale value minus any remaining loan balance. Positive equity means money back at sale. Negative equity means you still owe money.
5. When should I use operating inflation?
Use it when you expect fuel, insurance, maintenance, or other running costs to rise each year. It helps create a more realistic long-term ownership estimate.
6. Can I compare two different vehicles?
Yes. Run the calculator once for each vehicle using the same ownership years and mileage. Then compare total cost, monthly cost, and cost per mile.
7. Why does cost per mile matter?
Cost per mile helps compare vehicles with different prices or usage levels. It turns total ownership spending into a practical efficiency measure for daily driving decisions.
8. Does this replace a full budget plan?
No. It is a strong planning tool, but real budgets should also consider emergency repairs, financing changes, taxes by location, and personal cash-flow needs.