The price on the window is only the down payment on what a car really costs. This calculator rolls in the four numbers buyers usually ignore — depreciation, loan interest, sales tax, and years of fuel, insurance, and maintenance — to show the all-in true cost of ownership, then breaks it down to a clear cost per year and cost per mile. Compare two cars honestly, or find out whether the one in your driveway is quietly draining you.
Purchase
$
$
$
%
Loan
%
months
Ownership costs
yrs
$
mi
$
$
$
Loan payment / mo
$643
principal + interest
True cost to own
$52,053
all-in over the years you keep it
Cost per year
$10,411
true cost ÷ years owned
The numbers
Total interest
$6,103
Depreciation
$20,000
Cost per mile
$0.87
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Depreciation — the biggest hidden cost — is your vehicle price minus the resale value you expect when you sell.
Loan interest is computed from your APR, term, and the amount financed (price + sales tax − down payment − trade-in), so financing cost is counted, not just the payment.
Sales tax is applied to the price after any trade-in credit, matching how most US states and Canadian provinces tax a vehicle.
Operating cost = (fuel + insurance + maintenance) × the years you own it; everything is summed into a true cost, then divided by years and annual miles for cost per year and cost per mile.
For most newer vehicles it's depreciation — the value lost between what you pay and what you sell it for — not fuel or repairs. This calculator surfaces depreciation as its own line so you can see it next to interest, tax, and operating costs.
Does it include loan interest?
Yes. It calculates the monthly payment and total interest from your APR, term, and amount financed (price plus sales tax, minus your down payment and trade-in), and folds that interest into the true cost of ownership.
Does it work for Canada?
Yes. Choose Canada and figures are shown in CAD. Enter your provincial sales tax rate (for example 13% HST in Ontario) and the calculator applies it to the price after your trade-in credit.
What is a good cost per mile?
It varies widely by vehicle and how much you drive, but many owners land somewhere around 50 to 90 cents per mile once depreciation and financing are included. Driving more miles spreads the fixed costs and lowers the per-mile figure.