What is the biggest cost of car ownership?

Depreciation is the largest cost — the average new car loses 15-20% of value in year 1 and about 50% over 5 years. A $40,000 car depreciates to approximately $20,000, a $20,000 cost regardless of financing.

How does an EV compare to a gas vehicle in TCO?

EVs typically cost 3-5 cents per mile in energy vs 10-15 cents for gas. Lower maintenance partially offsets higher purchase price and insurance.

What vehicles have the lowest TCO?

Consumer Reports and Kelley Blue Book consistently rank Toyota, Honda, and Mazda among the lowest TCO. Luxury vehicles and American trucks typically have the highest 5-year ownership costs.

Vehicle Total Cost of Ownership Calculator

Calculate the true 5-year cost of vehicle ownership: purchase price, depreciation, fuel, insurance, maintenance, financing, registration, and taxes.

Principal ($)

Annual Rate (%)

Years

Compounding / Year

$ Finance Disclaimer: These calculators are for educational and illustrative purposes only. Results do not constitute financial advice. Consult a licensed financial advisor before making investment or borrowing decisions.

How to Use

Enter the values for the scenario you are assessing. Calculate the true 5-year cost of vehicle ownership: purchase price, depreciation, fuel, insurance, maintenance, financing, registration, and taxes. Use the vehicle tco result to inform your calculation.

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Vehicle Total Cost of Ownership Calculator

How to Use

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Frequently Asked Questions

What is the biggest cost of car ownership?

How does an EV compare to a gas vehicle in TCO?

What vehicles have the lowest TCO?