True Cost to Own Calculator
The monthly payment is the small part. See what a car actually costs you over the years you own it.
✏️ These numbers were filled in from a shared link — change anything to make it your own.
What actually makes up the cost
Six things, and only one of them is the payment:
- Depreciation — the value the car loses while you own it. Usually the largest cost, and invisible until you sell.
- Fuel — miles ÷ MPG × price per gallon.
- Insurance — varies enormously by driver, vehicle, and state.
- Maintenance & repairs — low early, rising sharply after warranty.
- Registration, taxes & fees — recurring, often overlooked.
- Loan interest — the price of financing, separate from the price of the car.
true cost = depreciation + fuel + insurance + maintenance + fees + interest
Note that the down payment and principal are not costs — that money becomes equity in the car and comes back to you at sale. That is exactly what the "value at sale" figure captures.
Financing it? Check the Auto Loan Calculator. Considering a lease instead? Run Lease vs Buy. Wondering if you should buy at all at this price? Try Car Affordability.
Estimates only — depreciation, insurance, and repair costs vary widely by make, model, condition, location, and driving record. General information, not financial advice.
Frequently asked questions
What is the true cost to own a car?
It is every dollar the car takes from you, not just the payment. The big five are depreciation, fuel, insurance, maintenance and repairs, and loan interest — plus registration, taxes, and fees. Depreciation is usually the largest single cost and the one buyers most often ignore, because you never write a check for it; you just get less back when you sell.
Why is depreciation the biggest cost?
A typical new car loses roughly 15–20% of its value each year, so a $35,000 car can be worth around $15,000 after five years. That $20,000 gap is a real cost you paid, spread silently across the years you owned it. It usually dwarfs fuel and maintenance combined, which is why buying used shifts the math so much — someone else already absorbed the steepest part of the curve.
How much should I budget per mile?
The cost-per-mile figure above divides your total ownership cost by the miles you actually drive. It is the fairest way to compare two very different vehicles, and it is the number to use if you are reimbursed for mileage or deciding whether a cheaper car with worse fuel economy really saves money.
Does a longer loan make a car cheaper?
No — it makes the payment smaller and the car more expensive. Stretching to 72 or 84 months adds interest and keeps you underwater (owing more than the car is worth) far longer. Change the loan term above and watch the total cost move while the monthly payment falls.