Calculate total car ownership costs including loan payments, insurance, fuel, maintenance, depreciation, and registration over time.
Add up what a car actually costs and the sticker price is usually less than half of the five-year total. This calculator assembles a per-year and per-month budget from six lines: the loan payment, insurance, fuel, maintenance, depreciation, and registration. The loan and fuel figures follow directly from your inputs; depreciation is estimated from the purchase price and the holding period. The part that surprises most people is where the money goes: depreciation, not fuel, is typically the largest non-financing cost, and the all-in monthly figure is usually two to three times the loan payment alone.
A concrete input and expected output from the current implementation.
Input
Car price $30,000; down payment $6,000; 5-year loan at 6% APR; 12,000 miles/year at 25 mpg and $3.50/gal; insurance $1,800/year; maintenance $1,000/year; registration $400/year; 5-year holding period.
Expected output
Monthly loan payment: $463.99 (total interest over the term: $3,839.40). Annual costs: loan $5,567.88; insurance $1,800.00; fuel $1,680.00; maintenance $1,000.00; registration $400.00; depreciation (estimated at 50% of purchase price over 5 years) $3,000.00. Total annual cost of ownership: $13,447.88, which is $1,120.66 per month and $1.12 per mile. Five-year total: $67,239.40.
The loan figure is the standard amortization of $24,000 financed at 6% APR over 60 months, so it is deterministic. Every other line is a stated input except depreciation, which the tool estimates - here assumed 50% of purchase price lost over five years - so the total is only as good as that assumption.
The amount financed is the price minus the down payment, repaid at the stated APR with interest compounding monthly. Because each fixed payment covers that month's interest first, early payments go mostly to interest and the principal share grows over time. Total interest over the term is the sum of all payments minus the amount financed, so a longer term lowers the payment but raises total interest.
Depreciation is the difference between the purchase price and the car's estimated resale value at the end of the holding period, spread across the years you own it. It is the one line the calculator must estimate rather than take from your inputs, and for a new car it is usually the largest non-financing cost. Resale values vary by make, model, condition, and market, so treat this line as a planning assumption rather than a fact.
No. The payment is only the loan line. In the example above, insurance, fuel, maintenance, registration, and depreciation add about $657 a month, bringing the all-in figure to roughly $1,121. Dealers and lenders quote only the payment, which is exactly why this tool exists; budget against the all-in number instead.
Because a new car loses value whether you pay for it or not. In the example, a $30,000 car is worth about $15,000 after five years, and that lost $15,000 is money you will not get back at trade-in or resale. If you do sell, the cash you recover is the same estimate seen from the other side - another reason to scrutinize that line.
The example and behavioral notes were checked against the browser implementation. Standards and primary references below define the relevant format, formula, or platform behavior.
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