Comments on: Calculate Your Car’s Cost Per Mile

By: Sam

Sam — Mon, 24 Aug 2009 19:28:32 +0000

Most helpful!! Thank you!!

By: Jason

Jason — Wed, 12 Aug 2009 22:00:39 +0000

for calculating cost comparisons, eliminate the insurance, registration, and other fixed costs that you have to pay regardless…

The difficulty is determining depreciation, as well as the varying costs of repairs depending upon your specific car.

By: Daniel

Daniel — Mon, 13 Apr 2009 13:14:23 +0000

Insurance should not be included if your calculating the cost of a trip. You will be paying for insurance whether you drive your car or not. Also, what needs to be here but isn’t is the cost of the deprecitiation of your car due to the miles you put on it, which is probably the most significant cost.

By: Scott

Scott — Tue, 25 Mar 2008 13:12:20 +0000

Some people also factor in the loss of a car’s value when doing this calculation, because for every thousand miles you put on your car the value drops some. I’ve heard many quote this around 10 cents per mile ($100 loss for every 1000 miles). This is why it makes sense sometimes to rent a car for driving trips if the price is right and the distance long enough because then you’re just paying for gas and the flat rental rate as opposed to devaluing your car and possibly having to make more frequent oil changes, tire changes, and other maintenance (and for older, or crappier, cars on long trips you save yourself the risk of being stranded on the side of the road).

By: Harrington Brooks

Harrington Brooks — Tue, 25 Mar 2008 07:21:50 +0000

Not as bad as I would have thought, thanks for the maths.

By: Jesse

Jesse — Mon, 24 Mar 2008 23:39:59 +0000

I should add thats an 07 Z, at 17 mpg

By: Jesse

Jesse — Mon, 24 Mar 2008 23:39:33 +0000

Ouch: $1.03 per mile

By: dha

dha — Mon, 24 Mar 2008 22:03:58 +0000

Not bad, but how about a grand total cost-per-mile or per month calculation based on absolutely everything you pay for with a car? Including the car itself? Here’s how I do mine:

Car purchase price: $6000
Miles per year: 14,000
Est. miles left in car at time of purchase: 70,000 (130k start > 200k)
So car will last me: 5 years

Now we just write out the annual numbers

Car acquisition: $6000/5 = $1200
Fuel: 14,000 miles /24.5 mpg = 571 gal * $3.00/gal = $1714
Insurance: $300/6 months = $600
Registration: $150
Maintenance: $1000
———-
Total: $4,664
Per Month: $389
Per Mile: $0.33

I’m half way through my five years, and everything is right on track. And that’s even with a recent $1700 bill from a shattered idler pulley which resulted in a seized timing belt which bent 9 valves!

Curious to see how this would look for a new car.