Car Total Cost of Ownership Calculator (Monthly)
Add up the real monthly cost of owning a car — loan payment, insurance, fuel, and maintenance — with annual and per-mile totals. Educational. Runs in your browser.
AAA estimates ~$0.09/mile averaged.
Total cost of ownership sums the fixed monthly costs (payment, insurance) and the variable ones (fuel = miles ÷ MPG × price, plus maintenance). It excludes depreciation, registration/taxes, parking, and tolls — add those for a complete picture. AAA’s annual “Your Driving Costs” study is a good benchmark for maintenance and total averages. Educational; everything runs in your browser.
About this tool
The sticker price and the monthly loan payment are only part of what a car actually costs — fuel, insurance, and maintenance often add up to as much as the payment itself, and ignoring them is how people end up house-poor on wheels. This calculator totals the recurring monthly cost of ownership so you can budget realistically or compare vehicles on a true cost basis. It sums four components: the loan or lease payment, the insurance premium (converted to monthly), maintenance and repairs, and fuel. Fuel is computed from the inputs that drive it — miles driven per month divided by the car's fuel economy (MPG) gives gallons used, multiplied by the price per gallon — so you can see how mileage, efficiency, and gas prices interact. The tool then shows the monthly total, the annualized figure, and the cost per mile, which is the single most useful number for comparing vehicles or deciding whether a trip is worth driving. A more efficient car or a shorter commute visibly lowers the fuel line; a cheaper insurance quote or a paid-off loan drops the fixed costs. For maintenance, AAA's long-running 'Your Driving Costs' study is a good benchmark — it pegs average maintenance and repair at roughly nine cents per mile across vehicle types, which you can translate to a monthly figure. The estimate deliberately covers the recurring out-of-pocket costs and leaves out depreciation (the largest hidden cost of a new car), registration and taxes, parking, and tolls; add those separately for a complete total-cost-of-ownership picture. Educational; everything runs in your browser; nothing is uploaded.
How to use it
- Enter your monthly loan or lease payment.
- Enter monthly insurance and a maintenance/repair estimate.
- Enter miles driven per month, the car's MPG, and the gas price.
- Read the total monthly cost, the annual figure, and the cost per mile.
Frequently asked questions
- What does it really cost to own a car per month?
- Add the loan/lease payment, insurance, maintenance, and fuel. Fuel = miles ÷ MPG × gas price. This calculator sums them into a monthly total, plus annual and per-mile figures. Real averages often rival or exceed the payment itself.
- How is the fuel cost calculated?
- Miles driven per month ÷ fuel economy (MPG) = gallons used, then × price per gallon. For 1,000 miles at 28 MPG and $3.50/gal, that is about $125 per month.
- What costs are not included?
- Depreciation (often the biggest cost of a newer car), registration and taxes, parking, and tolls are excluded. Add them for a full total-cost-of-ownership figure; this tool covers recurring payment, insurance, fuel, and maintenance.
- What should I budget for maintenance?
- AAA's "Your Driving Costs" study estimates roughly $0.09 per mile for maintenance and repairs on average. At 1,000 miles/month that is about $90; older or luxury vehicles run higher.
- Why is cost per mile useful?
- It normalizes total cost by how much you drive, making it the best metric for comparing vehicles or deciding if a trip is worth the cost. Driving less lowers per-mile fixed-cost efficiency but reduces total spend.
- Is anything uploaded?
- No. All calculations run entirely in your browser.