Enter Vehicle Details
Fill in the holding period once, then compare up to three vehicles side by side. Results appear above this form after calculation.
Example Data Table
| Vehicle | Price | Down Payment | APR | Term | Annual Miles | MPG | Fuel Price | Insurance | Maintenance | Resale |
|---|---|---|---|---|---|---|---|---|---|---|
| Compact Sedan | $28,000 | $5,000 | 6.5% | 60 | 12,000 | 30 | $3.80 | $1,400 | $800 | $14,000 |
| Hybrid Hatchback | $34,000 | $7,000 | 5.9% | 60 | 12,000 | 36 | $3.80 | $1,550 | $700 | $18,500 |
| Electric Crossover | $42,000 | $8,000 | 5.2% | 72 | 12,000 | 42 eq. | $3.80 eq. | $1,700 | $650 | $24,500 |
Formula Used
Payment = P × r ÷ (1 − (1 + r)-n)
Where P is financed amount, r is monthly interest rate, and n is total loan months.
Annual Fuel Cost = (Annual Miles ÷ Fuel Economy) × Fuel Price
Operating Cost = Fuel + Insurance + Maintenance + Registration + Parking + Other Annual Costs
Net Resale After Loan = Estimated Resale Value − Remaining Loan Balance
Total Cost = Down Payment + Loan Payments During Ownership + Operating Cost − Net Resale After Loan
How to Use This Calculator
Enter your ownership period and sales tax rate first. Then complete each vehicle column with purchase, financing, usage, and running cost details.
Use realistic annual mileage, fuel economy, insurance, and maintenance figures. Add registration, parking, tolls, and any extra yearly expenses for better accuracy.
Estimate each car’s resale value at the end of your ownership period. This helps the tool measure how much value you recover after selling.
Press Compare Car Costs. The results section appears above the form, showing the lowest-cost option, full comparison figures, and a chart.
Use the export buttons to save the results table as CSV or PDF for budgeting, planning, or sharing with family members.
Frequently Asked Questions
1. What costs should I include for the best comparison?
Include purchase price, down payment, loan rate, fuel, insurance, maintenance, registration, parking, tolls, and resale value. More complete inputs produce more realistic ownership estimates.
2. Does this tool work for used cars?
Yes. Enter the used vehicle’s actual purchase price, expected financing terms, annual costs, and estimated resale value. That makes the comparison suitable for both new and used cars.
3. How is fuel cost estimated?
The tool divides annual miles by fuel economy, then multiplies by fuel price. That yearly fuel expense is multiplied across your ownership period.
4. Why does resale value matter so much?
Resale value reduces your net ownership cost. A vehicle that retains value well may cost less overall, even if its purchase price is higher.
5. What if I sell the car before the loan ends?
The tool estimates remaining loan balance at the end of the holding period. It then subtracts that balance from resale value to show your net exit position.
6. Can I compare electric and fuel vehicles together?
Yes. For electric vehicles, use an equivalent efficiency and energy cost input. This gives a practical side-by-side ownership comparison with other vehicle types.
7. Is monthly cost more important than total cost?
Both are useful. Monthly cost helps with budgeting, while total cost shows long-term value. Reviewing both together gives a stronger decision framework.
8. How accurate are the results?
Results are estimates based on your inputs. Accuracy improves when you use realistic financing details, mileage, maintenance expectations, insurance quotes, and resale estimates.