๐ Car Ownership Cost Calculator
This is only an estimate. Actual insurance, tax, and maintenance costs vary by vehicle and contract terms.
Enter the car's price, down payment, loan interest rate, and loan term, along with annual insurance, vehicle tax, and maintenance costs and your monthly fuel spending, to calculate the total monthly and yearly cost of owning the car.
How to use
- Enter the car's price, down payment, loan interest rate, and loan term (for a cash purchase, set the down payment equal to the car's price).
- Enter annual insurance, vehicle tax, and maintenance costs.
- Enter your monthly fuel spending โ the total monthly and yearly cost is calculated automatically.
FAQ
Should I include other taxes and fees besides the basic vehicle tax?
For a more realistic total, include any other recurring vehicle-related taxes or fees (annualized) in the "annual tax" field along with the basic vehicle tax.
How do I calculate this for a cash purchase with no loan?
Set the down payment equal to the car's price. The loan payment will be calculated as zero, leaving only insurance, tax, maintenance, and fuel in the monthly cost.
Does this include vehicle inspection costs?
There's no dedicated field for inspection costs, but since inspections typically recur every year or two, you can add an annualized inspection cost into the "annual maintenance" field to include it in the estimate.