Enter vehicle expense assumptions
Example data table
| Scenario | Vehicle price | Annual miles | Fuel price | Fuel efficiency | Insurance monthly | Maintenance monthly |
|---|---|---|---|---|---|---|
| Compact commuter | $24,000 | 10,000 | $3.45 | 36 mpg | $118 | $72 |
| Family crossover | $32,000 | 12,000 | $3.80 | 28 mpg | $145 | $95 |
| Large SUV | $48,000 | 15,000 | $4.10 | 20 mpg | $188 | $135 |
Formula used
Sales tax = Vehicle price × Sales tax rate
Loan principal = Vehicle price + Sales tax + Upfront fees − Down payment
Monthly loan payment = P × [r(1+r)n] ÷ [(1+r)n − 1]
Monthly fuel cost = (Annual miles ÷ MPG) × Fuel price ÷ 12
Monthly depreciation = Vehicle price × Depreciation rate ÷ 12
Monthly total expense = Fixed costs + Variable costs
Annual total = Monthly total × 12
Cost per mile = Annual total ÷ Annual miles
In the loan formula, P is the loan principal, r is the monthly interest rate, and n is the total number of monthly payments.
How to use this calculator
- Enter the vehicle purchase price, down payment, taxes, and fees.
- Provide financing details including rate and loan term.
- Fill in annual miles, fuel price, and fuel efficiency.
- Add recurring costs such as insurance, maintenance, parking, and tolls.
- Set a depreciation rate and choose your ownership analysis period.
- Press the calculate button to display results above the form.
- Export the result table using the CSV or PDF buttons.
Frequently asked questions
1. What does this calculator estimate?
It estimates monthly, annual, and multi-year vehicle ownership costs. The tool combines purchase costs, financing, fuel, insurance, registration, maintenance, parking, tolls, cleaning, other recurring costs, and depreciation for a fuller ownership view.
2. Why include depreciation?
Depreciation reflects how much value the vehicle loses over time. It is a real ownership cost even if you do not pay it monthly, because resale value usually drops each year.
3. Is fuel cost based on yearly driving?
Yes. The calculator uses annual miles, fuel efficiency, and fuel price to estimate gallons used per year, then converts that total into an average monthly fuel cost.
4. Can I use it for paid-off vehicles?
Yes. Set the loan term or interest to zero and use a matching down payment if needed. The calculator will reduce or remove financing costs from the result.
5. What is cost per mile?
Cost per mile divides your annual ownership cost by annual miles driven. It helps compare vehicles fairly when fuel economy, insurance, financing, and maintenance differ across options.
6. Are repairs included?
Repairs can be included inside the maintenance field or other monthly costs. If you expect large occasional repairs, average them across several months for a steadier estimate.
7. What does net ownership cost mean?
Net ownership cost subtracts estimated resale value from the total ownership outflow across your selected analysis period. It gives a more realistic long-term cost estimate.
8. When should I update the inputs?
Update the inputs whenever fuel prices, insurance premiums, driving habits, financing terms, registration fees, or maintenance expectations change. Small assumption changes can noticeably affect your total cost.