Vehicle Total Cost of Ownership Calculator
Estimate what a vehicle really costs per year and per month by adding fuel, insurance, maintenance, fees, financing, and depreciation.
See also: Gas Mileage Tracker to measure your real-world MPG before entering it here.
Estimate your true vehicle ownership cost
Enter your yearly driving and ownership costs to see the full cost of keeping your vehicle on the road.
$1,396.67 per month
Based on 20,000 km per year and total annual ownership costs of $16,760.53.
How to use this calculator
Enter how far you drive in a normal year, then add your fuel economy and current fuel price. Next, enter your yearly insurance, maintenance, registration, financing or lease cost, and estimated depreciation. The calculator will show your total annual cost, average monthly cost, and cost per kilometre or mile.
Tips for success
- Don't skip depreciation: It is often one of the biggest ownership costs, even though it does not feel like a monthly bill.
- Use real-year spending: A full year of maintenance and repair data gives a more realistic result than estimates.
- Annualize monthly costs: If insurance or registration is paid monthly, multiply by 12 before entering here.
- Average big repairs: For vehicles you plan to keep longer, spread one-time repair bills over several years for a steadier estimate.
- Compare apples to apples: Use the same annual distance and fuel pricing when comparing two vehicles.
Ways to make the estimate more accurate
- Use real numbers from the last 12 months instead of guessing when possible.
- Include tire replacement, brake work, and seasonal maintenance if they are part of normal ownership.
- Do not ignore depreciation just because you are not selling right now. It is still a real cost of ownership.
- If you own the vehicle outright, leave financing at zero but still include maintenance, insurance, fuel, and depreciation.
- For EV or hybrid comparisons, use the same driving distance and update the energy or fuel assumptions appropriately.
FAQ
What is vehicle total cost of ownership?
Total cost of ownership is the full cost of having a vehicle over time, not just the monthly payment. It usually includes fuel, insurance, maintenance, registration, financing or lease costs, and depreciation.
Why is depreciation included?
Depreciation represents the value your vehicle loses each year. Even if you are not writing a cheque for it, it still affects what the vehicle is truly costing you to own.
Should I include repairs in maintenance?
Yes. For a practical estimate, include normal repairs and wear items along with routine service. That gives a more realistic picture of ownership cost over time.
Can I use this calculator for a paid-off vehicle?
Yes. Just enter zero for financing or lease cost. The calculator will still show the cost of fuel, insurance, maintenance, fees, and depreciation.
What if I do not know my annual depreciation?
You can estimate it by comparing the vehicle's current value with what you expect it to be worth one year from now, or by averaging the value loss over a few years. It does not need to be perfect to still be useful.