Car Cost of Ownership Calculator
A car costs far more than its sticker price. Add up depreciation, fuel, insurance and upkeep to see the true cost per year and per mile.
Example: with Purchase price $35,000 · Years of ownership 5 yrs · Resale value at the end $15,000 · Fuel / year $1,800 → Total cost of ownership: $43,500.
- Per year$8,700
- Per mile$0.72
- Depreciation$20,000
Computed by the calculator below using its default values. Change any input to see your own numbers.
Compare cars by total cost to own
Learn moreDepreciation is the hidden cost
The biggest cost of owning a car usually isn’t gas — it’s depreciation, the value it loses while you own it. Add fuel, insurance, maintenance and fees and the true cost per mile is eye-opening, and a great way to compare two vehicles fairly.
How it’s calculated & sources
Depreciation = purchase price − resale value. Running costs = (fuel + insurance + maintenance + fees) × years. Total = depreciation + running costs; per-mile divides by total miles.
Benchmark: AAA pegs average new-car ownership near $12,000/year, or about $0.80/mile (AAA Your Driving Costs, 2024).
Results update as you type and are general estimates, not personalized financial, tax, medical or legal advice. Verify with a professional.
Frequently asked questions
Why include resale value?
Because you get it back when you sell — only the drop from purchase to resale is a real cost. A car that holds value can be cheaper to own despite a higher price.
Does buying used lower the cost per mile?
Often yes — letting someone else absorb the steep first-year depreciation usually lowers your cost per mile, provided reliability is good.