Fuel is one of the more obvious costs. Experiment here to see how much a more fuel efficient mode of
transportation could save you.
Something else to consider is the cost of your vehicle. Cars tend to be consumable. IE: They have a lifespan
after which they are used up. So one way at looking at a luxery car versus an economy model is by cost per mile. To
determine cost per mile, this calculator includes four components: The initial cost of the vehicle, the
cost to finance the vehicle (if the purchase was financed), the cost to insure the vehicle, and finally the
cost to maintain the vehicle.
Complete coverage of the many ways of financing a car are beyond the scope of this calculator. The calculation
below will show you how much financing your vehicle costs per mile if you have a typical simple-interest loan.
Insurance is a huge variable as there are many different types and levels of auto insurance. Also, since
insurance usually is billed monthly, semiannually or annually and we wish to calculate the cost per mile, we
must have an estimate of the number of miles traveled each year.
Routine and preventative maintenance should also be included in any calculation of total cost of ownership for
a vehicle. The list below is not all-inclusive. It was taken from the owner's manual of a 2005 Dodge Neon but
the PMs listed and the reletive intervals and costs should be in the ball-park for all but the most expensive of
cars.
If you've entered values in for all the fields above, then here you'll see how much that drive to work really costs.
The next time you're tempted to take a long trip, try using this calculator to compare the cost of driving with that
of flying or of taking the train.
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Total cost of trip:
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Total cost per mile:
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Note: This calculator is just for fun. I'm not an accountant, so don't use these numbers on your taxes.