Calculate true cost of car ownership including depreciation, insurance, maintenance, fuel, and financing
A car ownership cost calculator computes the total cost of owning a vehicle including purchase price, financing interest, insurance, fuel, maintenance, repairs, registration, taxes, depreciation, and parking. Reveals the true 5-year or lifetime cost of car ownership beyond just monthly payment, helping buyers make informed decisions by comparing vehicles, financing options, and total ownership expenses. Averages $9,000-12,000 annually for typical vehicles. Essential for car buyers comparing models, lease vs buy decisions, and budgeting transportation costs accurately.
Avoid financial surprises by seeing complete ownership costs—that $30k car may cost $50k+ over 5 years when factoring all expenses. Compare vehicles fairly: a more expensive Toyota with high reliability and good MPG may cost less over 5 years than a cheaper vehicle with poor fuel economy and frequent repairs. Make smart financing decisions by seeing how loan terms, interest rates, and down payments affect total cost. Decide between buying new (higher purchase price, lower maintenance) versus used (lower price, higher repair costs). Budget accurately for car expenses as second-largest household expense after housing for most families. Realize when car-free living, public transit, or car-sharing services are actually cheaper than ownership.
Enter vehicle purchase price, down payment, loan terms (interest rate and length), expected annual mileage, fuel efficiency (MPG), current gas prices, insurance premium estimates, maintenance costs ($50-100 monthly typical), and ownership duration. Calculator shows total 5-year cost, monthly cost breakdown, cost per mile driven, and comparison tools for multiple vehicles. Update fuel prices and insurance annually for accuracy. Include parking ($100-500 monthly in cities), tolls, and registration fees. Compare total cost between options: financing at 5% for 6 years versus 3% for 4 years can save thousands despite higher monthly payment.
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