When buying a new or used car most people fail to consider many of the expenses that will be generated by their purchase. And because nearly all car buying situations come with different variables (depreciation rates, interest rates, purchase prices, insurance costs, mpg ratings, etc.), it becomes more difficult to compare one buying situation with another. This calculator will not only help you to forecast the estimated cost of buying and owning a car, but it will also help you to more accurately compare the estimated cost of one car buying situation with the estimated cost of a second car buying situation. (Enter 0 in the calculator blanks if necessary, calculate, then enter new data in the #2 column if necessary.)



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The factors included in owner cost estimates are depreciation, fuel, interest on financing, insurance, sales tax, and average maintenance and repair costs etc.

Costs vary among similar models, new and used. Depreciation is the largest cost factor by far. On average, it accounts for an estimated 48 percent of total ownership costs over five years. Fuel costs can really add up, especially for SUVs. Interest is tied directly to vehicle price. Insurance costs vary depending on many factors, including your age, location, and driving record. Maintenance and repair costs make up an estimated 4 percent of ownership costs. Sales tax costs owners about as much as maintenance and repair does.

This calculator is only an rough estimate of car costs. It is not an exact estimate of car costs.