Car Total Cost of Ownership Calculator

Car Total Cost of Ownership is evaluated from Car Purchase Price, Down Payment and Loan APR. The calculation reports Monthly Loan Payment, Total Loan Cost and 5-Year Fuel Cost.

Results

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About the Car Total Cost of Ownership Calculator

Car Total Cost of Ownership is treated here as a quantitative relation between Car Purchase Price, Down Payment, Loan APR and Loan Term and Monthly Loan Payment, Total Loan Cost, 5-Year Fuel Cost and 5-Year Insurance Cost.

The calculator uses a multi formula configuration. Each reported value is read as a direct evaluation of the stored rules with the declared field formats and units.

Formula basis:
Monthly payment = P x r x (1+r)^n / ((1+r)^n - 1) where P = principal, r = monthly rate, n = months
Total loan cost = down payment + monthly payment x loan term
5-year fuel = (annual miles / MPG) x gas price x 5
5-year insurance = annual insurance x 5
5-year maintenance = annual maintenance x 5
Depreciation loss = car price x 5-year depreciation%
Total TCO = loan + fuel + insurance + maintenance + depreciation
Cost per mile = total TCO / (annual miles x 5)

Interpret the outputs in the order shown by the result fields. Optional inputs affect only the outputs that depend on those variables.

Formula & How It Works

The calculation applies the following relations exactly as recorded in the metadata:

Monthly payment = P x r x (1+r)^n / ((1+r)^n - 1) where P = principal, r = monthly rate, n = months
Total loan cost = down payment + monthly payment x loan term
5-year fuel = (annual miles / MPG) x gas price x 5
5-year insurance = annual insurance x 5
5-year maintenance = annual maintenance x 5
Depreciation loss = car price x 5-year depreciation%
Total TCO = loan + fuel + insurance + maintenance + depreciation
Cost per mile = total TCO / (annual miles x 5)

Each output field is produced by substituting the supplied inputs into the relevant relation and then applying the declared rounding or text format.

Worked Examples

Example 1: 2024 Toyota Camry XSE V6: $35,000 purchase, 7% APR 60 months

Inputs

car_price: 35000 down_payment: 5000 interest_rate: 7 loan_term: 60 months annual_miles: 12000 mpg: 32 gas_price: 3.5 annual_insurance: 1700 annual_maint: 700 depreciation_yr5: 40
Monthly Loan Payment: $594/mo. Total Loan Cost: $40,642. 5-Year Fuel Cost: $6,563. 5-Year Insurance Cost: $8,500. 5-Year Maintenance Cost: $3,500. 5-Year Depreciation Loss: $14,000. Total 5-Year Ownership Cost: $73,205. Total Cost Per Mile: $1.22/mile

With Car Purchase Price = 35,000, Down Payment = 5,000, Loan APR = 7 and Loan Term = 60 months as the stated inputs, the result is Monthly Loan Payment = $594/mo, Total Loan Cost = $40,642 and 5-Year Fuel Cost = $6,563. Each value corresponds to the declared output fields.

Example 2: 2024 Tesla Model 3 RWD: $42,000 purchase, 6.5% APR 72 months

Inputs

car_price: 42000 down_payment: 7500 interest_rate: 6.5 loan_term: 72 months annual_miles: 12000 mpg: 130 gas_price: 0.04 annual_insurance: 2200 annual_maint: 400 depreciation_yr5: 48
Monthly Loan Payment: $580/mo. Total Loan Cost: $49,256. 5-Year Fuel Cost: $18. 5-Year Insurance Cost: $11,000. 5-Year Maintenance Cost: $2,000. 5-Year Depreciation Loss: $20,160. Total 5-Year Ownership Cost: $82,434. Total Cost Per Mile: $1.37/mile

With Car Purchase Price = 42,000, Down Payment = 7,500, Loan APR = 6.5 and Loan Term = 72 months as the stated inputs, the result is Monthly Loan Payment = $580/mo, Total Loan Cost = $49,256 and 5-Year Fuel Cost = $18. Each value corresponds to the declared output fields.

Example 3: 2024 Ford F-150 XLT 3.5L EcoBoost: $52,000 purchase, 7.5% APR 72 months

Inputs

car_price: 52000 down_payment: 8000 interest_rate: 7.5 loan_term: 72 months annual_miles: 15000 mpg: 20 gas_price: 3.5 annual_insurance: 2000 annual_maint: 1000 depreciation_yr5: 45
Monthly Loan Payment: $761/mo. Total Loan Cost: $62,775. 5-Year Fuel Cost: $13,125. 5-Year Insurance Cost: $10,000. 5-Year Maintenance Cost: $5,000. 5-Year Depreciation Loss: $23,400. Total 5-Year Ownership Cost: $114,300. Total Cost Per Mile: $1.52/mile

With Car Purchase Price = 52,000, Down Payment = 8,000, Loan APR = 7.5 and Loan Term = 72 months as the stated inputs, the result is Monthly Loan Payment = $761/mo, Total Loan Cost = $62,775 and 5-Year Fuel Cost = $13,125. Each value corresponds to the declared output fields.

Example 4: 2024 Kia Rio economy car: $18,000 purchase, 9% APR 48 months, low miles

Inputs

car_price: 18000 down_payment: 2000 interest_rate: 9 loan_term: 48 months annual_miles: 10000 mpg: 35 gas_price: 3.5 annual_insurance: 1400 annual_maint: 600 depreciation_yr5: 55
Monthly Loan Payment: $398/mo. Total Loan Cost: $21,112. 5-Year Fuel Cost: $5,000. 5-Year Insurance Cost: $7,000. 5-Year Maintenance Cost: $3,000. 5-Year Depreciation Loss: $9,900. Total 5-Year Ownership Cost: $46,012. Total Cost Per Mile: $0.92/mile

With Car Purchase Price = 18,000, Down Payment = 2,000, Loan APR = 9 and Loan Term = 48 months as the stated inputs, the result is Monthly Loan Payment = $398/mo, Total Loan Cost = $21,112 and 5-Year Fuel Cost = $5,000. Each value corresponds to the declared output fields.

Common Use Cases

  • Calculate the true 5-year cost of owning a new car
  • Compare total ownership cost between two vehicles
  • Determine cost per mile for a vehicle