True Car Cost Calculator

Qualogic Tools · Free big-decision calculator

A dealer will quote you a monthly payment. This shows what each choice really costs you per month and per mile, including the car's lost value, interest, fuel, insurance and repairs, and what the difference could grow to if you invested it instead.

Filled in with example figures for a typical US buyer. Replace them with your own numbers.

The verdict

—

Your situation

yrs
mi
$/gal
%
$
Used as your trade-in
%/yr
For the opportunity-cost line
$
Optional. Leave 0 to skip.

Buy new

A brand-new car off the lot

$
$
%
mo
%
mpg
$
$
$

New cars typically lose about half their value in five years. The biggest drop comes in the first year.

Buy used

A 2–4 year old car

$
$
%
mo
%
mpg
$
$
$

Used-car loans usually carry a higher APR than new. Check your credit union's rate before accepting the dealer's.

Keep your car

Drive what you have and pay for repairs

%
mpg
$
$
$

Assumes your current car is paid off. Its value comes from "Your current car's value" above. Be honest about repairs: budget for the tires, brakes and big services coming due.

Results update as you type. The full breakdown is just below.

Side by side

Where the money goes

—

The opportunity cost

Put the difference to work. The Wealth Reset is T. Rose's guide to turning the money you don't spend into lasting wealth: compounding, protecting savings from inflation, and choosing the right vehicles.

See The Wealth Reset

T. Rose's notes on your numbers

Every car is a trade between today's comfort and tomorrow's freedom. Know the full price before you sign. — T. Rose, MBA

Economic education, not personalized financial advice. Results are estimates based on the figures you enter. Loan math assumes a fixed rate and equal monthly payments; resale value assumes the same percentage loss each year.