Total Cost of Car Ownership Estimator
The sticker price is only the beginning. This free total cost of owning a car calculator estimates what a car really costs you — down payment, loan payments, insurance, fuel, and maintenance — over the years you plan to keep it, and turns it into a cost-per-mile figure you can compare against alternatives like ride-hailing or public transit.
Enter your numbers
Your results
Cost by category
| Category | Amount | Share |
|---|
Year-by-year breakdown
| Year | Loan paid | Insurance | Fuel | Repairs | Year total | Running total |
|---|
Estimate — actual costs vary. Excludes taxes, dealer fees, registration, parking, tolls, and depreciation. Figures are for planning only, not financial advice.
How to use this calculator
Start with the car price and your down payment — the difference is the amount financed. Add the APR you were quoted (or expect) and the loan term in years, then fill in the running costs: annual insurance, annual maintenance & repairs, annual miles, fuel economy (MPG), and the current gas price. Finally set years to model — how long you expect to keep the car.
Results update instantly as you change any input. The headline number is your estimated total out-of-pocket cost; cost per mile is the fairest way to compare two cars or to compare driving against transit and ride-hailing.
Try the common trade-offs: a cheaper car, a bigger down payment, a shorter loan term, or fewer annual miles — each one moves the total in a way that's hard to eyeball without the math.
How it works
The calculator first finds the amount financed: car price − down payment. Then it applies the standard loan amortization formula: M = P × r × (1+r)n / ((1+r)n − 1), where M is the monthly payment, P is the amount financed, r is the monthly rate (APR ÷ 1200), and n is the number of months. With a 0% APR, the payment is simply P ÷ n. Total loan payments are the monthly payment × number of months.
Yearly fuel is (annual miles ÷ MPG) × gas price. The total cost is then: down payment + total loan payments + (insurance × years) + (fuel × years) + (maintenance × years).
Cost per mile is total cost ÷ (annual miles × years), and the monthly equivalent is total cost ÷ (years × 12). In the year-by-year table, loan payments stop once the loan term ends, while insurance, fuel, and maintenance continue — that's why running costs drop in the later years of a paid-off car.
Assumptions: APR is fixed for the whole term, payments are equal and made monthly, and insurance, fuel, maintenance, miles, and gas price stay constant each year. All figures are estimates for planning — not financial advice.
Frequently asked questions
What is the true cost of owning a car per year?
AAA's 2026 "Your Driving Costs" study puts the average annual cost of owning and operating a new vehicle at $12,863 (about $1,072 per month), driven by fuel prices, depreciation, and finance charges. Your own cost depends on the price you pay, how much you drive, your insurance, and your fuel economy. Enter your numbers above for a personalized estimate — most drivers are surprised by the 5-year total.
Does this include depreciation?
No. This calculator adds up out-of-pocket costs: down payment, loan payments, insurance, fuel, and maintenance. Depreciation — the drop in the car's resale value — is a real ownership cost, but it is not cash leaving your pocket each month. If you plan to sell or trade in, compare your total out-of-pocket estimate with the expected resale value to see your net cost.
How is cost per mile calculated?
Total estimated ownership cost over your modeling period, divided by total miles driven in that period. For example, a $50,000 five-year total at 12,000 miles per year is $50,000 divided by 60,000 miles, or $0.83 per mile.
What costs are not included in this estimate?
Sales tax, dealer fees, registration, parking, tolls, tickets, car washes, and financing add-ons like extended warranties are not included, so the real total can be higher. Depreciation is also excluded. Treat this as a planning estimate, not an exact bill — actual costs vary.
How can I lower my cost of car ownership?
The biggest levers are the purchase price (and down payment), the APR and loan term, how many miles you drive, and fuel economy. A smaller, efficient car with a shorter loan and a bigger down payment usually produces the lowest total cost and cost per mile. Try different inputs above to compare scenarios.