Car Running Cost Calculator
Understanding the true cost of car ownership goes far beyond the sticker price. Our comprehensive car running cost calculator helps you estimate all expenses associated with owning and operating a vehicle, including fuel costs, insurance premiums, routine maintenance, unexpected repairs, registration fees, and depreciation. Whether you're considering buying a new car, comparing vehicle options, or simply budgeting your current transportation expenses, this tool provides accurate monthly and annual cost breakdowns. By factoring in your specific driving habits, fuel efficiency, and local costs, you can make informed financial decisions and identify opportunities to reduce your vehicle expenses. Start calculating now to gain complete visibility into your car's total cost of ownership and plan your automotive budget with confidence.
Your Monthly Car Costs
Frequently Asked Questions
How do I calculate my car's running costs?
To calculate car running costs, add up your monthly loan payment (using the amortization formula), fuel expenses (miles driven ÷ MPG × gas price), insurance premiums, regular maintenance, and other costs. Our calculator provides instant monthly totals and cost per mile.
What is included in vehicle ownership costs?
Vehicle ownership costs include your monthly loan payment with interest, fuel, insurance, routine maintenance (oil changes, tire rotations), repairs, registration, parking fees, and other expenses. Our calculator includes all these costs in the monthly total.
How much does the average car cost per month?
The average car costs between $500-$1,000 per month including loan payments, insurance ($150-$200), fuel ($150-$300), and maintenance ($50-$100). Costs vary significantly based on vehicle type, age, and driving habits.
What is car depreciation and how does it affect cost?
Car depreciation is the loss in vehicle value over time. New cars lose 20-30% of value in the first year and about 15-20% annually thereafter. This hidden cost significantly impacts total ownership expenses, especially for new vehicles.
How can I reduce my car running costs?
Reduce costs by maintaining proper tire pressure, driving efficiently (avoid rapid acceleration), shopping for better insurance rates, performing regular maintenance to prevent expensive repairs, and considering carpooling or public transit for some trips.