Car Costs Calculator

This tool will help you to calculate the real costs of owning and using a car over the next year. Complete the form with the values for the car you're interested in, and click on the calculate button.

If you're unsure of what values to fill in, an explanation of each field is given at the bottom of this page. You will also find a detailed explanation, and a few examples, in this article: What your car is really costing you.

Explanation of Fields

Loan Interest Rate
The interest rate of the loan, with which the vehicle is, or will be, financed.

Opportunity Rate
The interest rate of your next best investment. If you're not sure what to fill in here, fill in the interest rate of your home-loan, or if you don't have a home-loan, any other loan you have.

Fuel Cost
The current cost for one liter of fuel.

Present Value
The current value of the vehicle, right now, at this moment. A good way to determine the value of 2nd-hand vehicles, are by looking at advertisements in places like the auto-trader website.

Future Value
The estimated value of the vehicle, 12 months from now. Once again, a good way to determine this value, is by looking at advertisements of 2nd-hand vehicles, that are one year older than the vehicle you are interested in.

Here are some rough guidelines for the percentages by which most vehicles will depreciate per year:

New vehicles: 20% - 30%
Vehicles less than 5 years old: 15% - 20%
Vehicles more than 5 years old: 10% - 15%

Loan Amount
The current outstanding amount on the vehicle loan, or in the case of a new vehicle, the amount that you plan to finance.

Insurance Premium
The monthly insurance premium.

Maintenance
The estimated amount that will be spent towards maintenance on the vehicle, in the next 12 months.

Distance
The estimated amount of kilometers that will be traveled, per month.

Fuel Economy
The estimated fuel economy of the vehicle, in kilometers per liter.

Other Ownership Costs
Other miscellaneous costs, over the next 12 months, that you'll have just by owning the vehicle. E.g. vehicle registration, hiring of a garage for overnight parking, etc.

Other Running Costs
Other miscellaneous costs, per month, that you'll have during the use of the vehicle. E.g. car wash, speed fines, parking fees, toll fees, etc.

Financial Freedom

Financial Tools

Economic Indicators