Scenario tools
True Cost of a Car
Car ownership
Look beyond the payment to estimate what a car could really cost you each month and for every mile you drive.
Use the final price after any incentives you expect to receive.
Include registration, inspection, vehicle property or excise tax, and any EV fee that applies where you live.
Enter the car price, how long you will own it, expected resale value, mileage and operating costs.
A $30,000 cash purchase sold for $18,000 after four years loses $12,000 in value. Add $4,500 a year for insurance, energy, maintenance and other running costs, and total economic cost is $30,000. That is $625 a month or 62.5 cents per mile at 12,000 miles a year.
The example does not include financing. With a loan, interest adds to economic cost; principal repayment is not added again on top of depreciation. The remaining loan balance still matters to the cash you receive or owe when you sell.
Enter the final out-the-door price after any incentive already included in your quote. Do not subtract the same incentive a second time. Use usable trade-in equity, not a vehicle's headline value before its loan is paid.
Try a lower resale value and a higher repair allowance. Fuel and electricity prices, local fees and insurance differ by location and vehicle. The calculator applies your inputs; it does not establish incentive eligibility or forecast resale prices.
Comparing a lease quote with a purchase? Use the lease vs. buy calculator to put both options on the same timeline.
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