Car Total Cost of Ownership Calculator
This free total cost of ownership calculator for a car reveals what one car really costs you over its lifetime — not just the sticker price, but depreciation, fuel, insurance, maintenance, fees, and loan interest. Enter your numbers and see the full TCO, plus your true cost per mile and per month, instantly.
Enter your numbers
Your results
Cost breakdown
| Item | Amount |
|---|
Where the money goes
Estimates for planning only — not financial advice. Depreciation and resale are forecasts; fuel prices, insurance, and repair bills vary. Loan interest counts only interest paid during your ownership period (see How it works).
How to use this calculator
Enter the car's purchase price and what you expect to resell it for when you're done with it — the difference is your depreciation, usually the biggest cost of all. Tell the calculator how long you'll own it and how many miles per year you'll drive, then add your fuel economy and fuel price for the fuel bill.
Then fill in the yearly running costs: insurance, maintenance and repairs, and registration, taxes, and other fees. If you're financing, switch the financing option to Loan and add your down payment, APR, and term — the calculator adds the loan interest to your total cost. Results update instantly as you type, with the default example showing a $28,000 cash car kept for 5 years costing $33,200 in total, or about $0.553 per mile.
How it works
The total cost of ownership (TCO) is the sum of six components over your chosen horizon:
TCO = Depreciation + Fuel + Insurance + Maintenance + Fees + Loan interest
Depreciation is the purchase price minus the expected resale value — the value the car loses while you own it. Fuel is (years × miles per year ÷ MPG × price per gallon): in the default example, 5 × 12,000 ÷ 30 × $3.60 = $7,200. Insurance, maintenance, and fees are simply your annual amounts multiplied by the years of ownership.
Loan interest is the only tricky part. If you pay cash, it's $0. With a loan, the calculator amortizes the amount financed (price − down payment) at your APR, and adds only the interest paid during your ownership period. If your loan term is longer than your ownership, you only pay interest for the months you own the car — the rest of the loan gets paid off when you sell it, so it isn't part of your ownership cost.
Cost per mile is the TCO divided by total miles driven (years × miles per year); cost per month is the TCO divided by years × 12. Assumptions: costs stay constant each year (no inflation), the APR is fixed, and the resale value is your honest forecast. All figures are estimates for planning.
Frequently asked questions
What is included in a car's total cost of ownership?
Total cost of ownership (TCO) is everything you spend to buy and run a car over your ownership period. This calculator adds six components: depreciation (purchase price minus expected resale value), fuel (miles driven divided by MPG times fuel price), insurance, maintenance and repairs, registration and taxes/fees, and loan interest if you finance. The result is the true lifetime cost — not just the sticker price or the monthly payment.
How does a car loan change the total cost of ownership?
A loan adds interest on top of the car's price. Buying a $28,000 car for cash costs $28,000 upfront; financing it adds the total interest over the loan term. In this calculator, choose Loan, enter your down payment, APR, and term, and the interest paid during your ownership period is added to the TCO. A longer term or higher APR raises the interest portion — try different terms to see the effect.
How is this different from the lease vs buy or new vs used calculators?
This calculator measures the lifetime ownership cost of one specific car — its depreciation, running costs, and financing. The lease vs buy calculator compares two ways of getting the same car side by side, and the new vs used calculator compares two different cars. Use this page when you have picked a car and want to know what it will truly cost you over the years.
What is a good cost per mile for a car?
For an average car, all-in ownership is often quoted in the range of $0.60 to $0.75 per mile, including depreciation, fuel, insurance, and maintenance. The calculator's default example — a $28,000 car kept 5 years — works out to about $0.553 per mile. Luxury cars, trucks, and low-MPG vehicles usually land higher; efficient cars you drive a lot land lower, because fixed costs spread over more miles.
Are these figures exact or just estimates?
Every number on this page is an estimate for planning, not a quote. Depreciation and your future resale value are guesses, fuel prices change, and repair bills are unpredictable. Enter realistic numbers for your situation and treat the total as a planning estimate. For extra accuracy, get two or three resale estimates from dealer quotes or price guides and use the average.