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What does this car actually cost to own — per year, per month, per mile?

Find out what your car actually costs per year and per mile. Seven-category breakdown: depreciation, insurance, fuel, maintenance, registration, repairs, and loan interest.

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Vehicle

Vehicle class
5
12000

Financing

How are you paying?
60

5-Year True Cost of Ownership

Total cost

$53,755

Per month

$896

Per mile

$0.90

Estimated resale value after 5 years: $16,219 — already subtracted from the total above.

Cost Breakdown

Depreciation$21,23139.5%
Loan Interest$5,92411.0%
Insurance$8,50015.8%
Fuel$9,00016.7%
Maintenance$5,50010.2%
Registration$1,1002.0%
Repairs$2,5004.7%

Your biggest cost is depreciation at 39% of the total. Financing adds $5,924 in interest over 5 years. At 12,000 miles/year you're paying $0.90/mile to own this vehicle. If you park savings in a HYSA at 4.5% APY, the opportunity cost of the down payment alone is roughly $862 over 5 years — a hidden cost most buyers never count.
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How it works

We apply an industry-standard depreciation curve to your vehicle price (20% year one, 15% year two, 12% years three through five) then add five recurring ownership costs from AAA's annual survey data, indexed by vehicle class. If you're financing, we compute the exact interest paid within your hold window using a full amortization schedule — not an estimate.

The result is a seven-slice breakdown showing where every dollar goes. The $/mile figure divides your total cost by total miles driven over the hold window — the most comparable metric across different vehicles and usage patterns.

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→ The True Cost of Owning a Car in 2026

Frequently Asked Questions

What does 'true cost of ownership' actually include?
Seven cost categories: depreciation (the biggest one most people ignore), loan interest if you're financing, insurance, fuel, maintenance, registration fees, and repairs. The sticker price is just your entry ticket — these are the recurring costs that determine what you actually pay per mile.
Why is depreciation the biggest cost?
A new car loses roughly 20% of its value in the first year alone, then 15% in year two. After five years you've typically lost 45-55% of the purchase price. That wealth destruction happens whether you drive the car or not. It dwarfs fuel costs for most people yet almost nobody factors it in when shopping.
How accurate are the default cost estimates?
They're based on AAA's 2025 'Your Driving Costs' study and DOE fuel-cost data, averaged by vehicle class. They're directionally accurate but your actual costs depend on your location, driving habits, insurer, and vehicle age. Use the Advanced settings to override any line item.
Should I choose cash or financing?
The calculator shows you the finance-interest cost in dollars and as a share of total ownership cost. Compare that to what your cash would earn sitting in a HYSA. Our Lease vs Finance vs Cash tool models that opportunity-cost comparison in full if you want the deeper answer.
Why does the EV class show higher depreciation?
EVs depreciate faster in year one (roughly 28% vs 20% for ICE vehicles) due to battery-anxiety discounts in the used-car market. Battery technology is improving fast, so buyers discount used EVs aggressively. This may change as the technology matures.
What does $/mile tell me?
It's the all-in cost of every mile you drive, including capital costs. It's the most honest number for comparing vehicles because it normalises for how much you drive. The average American pays $0.55–$0.85/mile to own a vehicle. EVs often come out cheaper per mile despite higher purchase price.