Car Cost Per Mile Calculator
Fuel is only part of what a car costs. Add your yearly insurance, maintenance, depreciation and other costs to see the real cost of every mile you drive.
Cost per mile formula
Fuel per year = miles ÷ MPG × gas price
Total per year = fuel + insurance + maintenance + depreciation + registration + loan interest + parking
Cost per mile = total per year ÷ miles per year
What goes into the cost of driving?
- Depreciation — the value your car loses each year. New cars often lose a large share of their value in the first few years.
- Insurance — depends on your age, record, location and car.
- Fuel — the most visible cost, but often less than depreciation plus insurance.
- Maintenance and tires — oil changes, brakes, tires and repairs grow as the car ages.
- Financing — the interest part of your loan payment (not the principal).
Why cost per mile matters
Knowing your true cost per mile helps you decide whether a longer commute is worth it, compare driving with transit or ride-share, and price your time if you drive for work or gig apps.
Frequently asked questions
How do I calculate my car's cost per mile?
Add up everything you spend on the car in a year — fuel, insurance, maintenance, depreciation, registration, loan interest and parking — and divide by the miles you drove that year.
What is a typical cost per mile to own a car?
Including depreciation and insurance, many new cars cost well over 50 cents per mile to own and drive. Older, paid-off cars with low depreciation cost much less.
Should I include my car payment?
Include only the interest part and depreciation, not the full payment. The principal you repay is offset by owning the car; depreciation captures the value lost.