Once you’ve bought a car, your expenses as an owner don’t stop there. After all, vehicles require regular maintenance and insurance. Depending on how you use your car, the list of expenses can be quite long.
Enter the necessary data, and our calculator will determine your annual car ownership costs, even if you’re just planning to buy one.
Car Ownership Cost Calculator
Estimate your total annual and monthly cost of owning a vehicle.
* Depreciation is calculated using the declining balance method: Resale Value = Price × (1 − Rate)^Years. Annual depreciation cost = (Price − Resale Value) ÷ Years. Loan repayment uses the standard amortisation formula. All figures are estimates — actual costs vary by vehicle, region, and usage.
Of course, some costs are individual, such as dry cleaning or car washes. Overall, though, the figures are quite accurate. The more data you enter, the more accurate the results our car ownership cost calculator will provide.
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Formulas used:
Loan repayment — standard amortisation:
Monthly payment = P × r(1+r)ⁿ / ((1+r)ⁿ − 1)
where P = principal (price − down payment), r = monthly rate, n = term in months. If 0% / cash, the principal is simply spread over the ownership period.
Depreciation — declining balance method:
Resale Value = Price × (1 − rate)^years
Annual depreciation cost = (Price − Resale Value) ÷ Years
This mirrors how real-world car values fall (steepest in year 1, flattening over time), rather than a flat straight-line drop.
Total cost = annual loan repayment + annual depreciation + all running costs (fuel, insurance, servicing, tax, parking, other). Divided by 12 for the monthly figure.