Car Buying Calculator to Calculate Car Cost and Car Comparisons

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Calculator Preferences

Adjust Calculator Width % Adjust Calculator Width: Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view. Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".	Show/Hide Keypads Show/Hide Popup Keypads: Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.	Stick/Unstick Tools Stick/Unstick Tools: Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position. If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.
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Car Buying Calculator

This calculator will calculate the annual, monthly, and per mile cost to buy and own an automobile. A second column of entry fields allows you to perform side-by-side car buying comparisons, or to see how changes to one cost element effects the overall cost of buying and owning. Results include a printable Purchase and Ownership Cost Report that you can print out and use for comparing with any number of other car buying alternative. The $ecret tab includes:

The price tag is only the tip of the car cost iceberg.
Ownership cost meter needed.
The more you own ...

$ecret$ecret$ecret$ecret

Learn More

DataData recordData recordSelected data record: None

Double?Double?Double scenario?Double scenario?

Double scenario?

RHW:RHW:Real hourly wage:Real hourly wage:

Real hourly wage

Enter Car Cost Variables

Identifying description:Identifying description:Identifying description:Identifying description:

Description #2

Description #1

Total price of the car:Total price of the car:Total price of the car, incl. options:Total price of the car, incl. options:

Total price #2

Total price #1

Sales-tax percentage:Applicable sales-tax percentage:Applicable sales-tax percentage:Applicable sales-tax percentage:

Sales tax percent #2

Sales tax percent #1

Annual cost of licensing:Annual cost of licensing:Annual cost of licensing:Annual cost of licensing:

License cost #2

License cost #1

Extended warranty cost:Extended warranty cost:Extended warranty cost:Extended warranty cost:

Extended warranty #2

Extended warranty #1

Will you be financing?Will you be financing this vehicle?Will you be financing this vehicle?Will you be financing this vehicle?

Financing? #2

Financing? #1

Down payment amount:Down payment amount:Down payment amount:Down payment amount:

Enter the a percentage to compute the down payment amount, expand the description and enter the percentage (without the percent sign) and the calculator will calculate the amount and enter it into the appropriate fields (Total price of car entry is required).

Scenario #1

Scenario #2

Down percent #1

Down percent #2

Amt:

Down payment #2

Down payment #1

Financing percentage rate:Financing percentage rate:Financing percentage rate:Financing percentage rate:

Financing rate #2

Financing rate #1

Number of months financed:Number of months financed:Number of months financed:Number of months financed:

Financing months #2

Financing months #1

Annual insurance premium:

Annual insurance premium #2

Annual insurance premium #1

Annual drive miles:Annual drive miles:Annual drive miles:Annual drive miles:

To convert non-annual miles into annual miles, enter the miles and select the timeframe below.

Miles:

Number of miles

Per:

Down percent #1

Annual Miles:

Annual drive miles #2

Annual drive miles #1

Estimated MPG rating:Vehicle's estimated MPG rating:Vehicle's estimated MPG rating:Vehicle's estimated MPG rating:

MPG #2

MPG #1

Cost per gallon of gas:Cost per gallon of gas:Cost per gallon of gas:Cost per gallon of gas:

Cost per gallon of gas #2

Cost per gallon of gas #1

Age of car in years:Age of car in years:Age of car in years:Age of car in years:

Age of car #2

Age of car #1

Years you expect to own:Years you expect to own:Years you expect to own this car:Years you expect to own this car:

Own years #2

Own years #1

Monthly maint/repair cost:Monthly maint & repair cost:Monthly maint & repair cost:Monthly maint & repair cost:

Enter a percentage to arrive at an estimate of maintenance costs (average is 3% of purchase price per year).

Scenario #1

Scenario #2

Percent:

Maintenance percent #1

Maintenance percent #2

Annual:

Monthly:

Monthly maintenance #2

Monthly maintenance #1

Purchase & Ownership Costs Chart
CostsCostsPurchase & Ownership CostsCalculated Purchase & Ownership Costs	Scenario #1	Scenario #2
Tax, lic, wrty:Tax, lic, warranty:Tax, license, warranty:Tax, license, extended warranty costs:
Depreciation:Depreciation:Depreciation costs:Depreciation costs:
Financing:Financing:Finance costs:Finance costs:
Insurance:Insurance:Insurance costs:Insurance costs:
Fuel costs:Fuel costs:Fuel costs:Fuel costs:
Maint/repair:Maint/repair:Maintenance & repair costs:Maintenance & repair costs:
Total costs:Total costs:Total cost of buying & owning:Total cost of buying & owning the car:
Annual cost:Annual cost:Annual cost to own & operate vehicle:Annual cost to own & operate vehicle:
Monthly cost:Monthly cost:Monthly cost to own & operate:Monthly cost to own & operate vehicle
Car cost/mile:Car cost per mile:Car cost per mile:Car cost per mile:
Ann work hrs:Annual work hoursRequired annual work hours:Required annual work hours:
Ann 40-hr wks:Annual 40-hour weeks:Required annual 40-hour work weeks:Required annual 40-hour work weeks:

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated

This Form cannot be submitted until the missing fields (labelled below in red) have been filled in
Feedback
Please note that all fields preceded by a red asterisk must be filled in.
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* Reason(s) for grade: Reason(s) for grade: If you gave the calculator less than "A", please help me improve the calculator by telling me what I would need to do for it to earn an "A". Note: If the calculator did not calculate a result, please let me know whether you are using a Mac or Windows computer, and which web browser and version number you are using. If I don't know what your set up is I have no way to find and fix the issue. All calculators have been tested to work with the latest Chrome, Firefox, and Safari web browsers (all are free to download). I gave up trying to support other web browsers because they seem to thumb their noses at widely accepted standards. Reasons for grade Reason(s) I graded less than "A":
Comment, Ask Question Comment, Question, Name, Email: Question, Name, Email: If you have a question about the calculator's operation, please enter your question, your first name, and a valid email address. Note that my expertise is in creating online calculators, not necessarily in all of the subject areas they cover. While I do research each calculator's subject prior to creating and upgrading them, because I don't work in those fields on a regular basis, I eventually forget what I learned during my research. So if you have a question about the calculator's subject, please seek out the help of someone who is an expert in the subject. Question, Name, Email.
Calculator Details * Calculator Title: Calculator Title: This field should already be filled in if you are using a newer web browser with javascript turned on. If it's not filled in, please enter the title of the calculator as listed at the top of the page. Calculator Title * Calculator Web Address: Calculator Web Address: This field should already be filled in if you are using a newer web browser with javascript turned on. If it's not filled in, please enter the web address of the calculator as displayed in the location field at the top of the browser window (www.free-online-calculator-use.com/____.html). Calculator Web Address (www.free-online-calculator-use.com/____.html) Platform, web browser, & data: Platform, web browser, & data: This field should already be filled in if you are using a newer web browser with javascript turned on. If the calculator is not working for you, this information will help me to find and fix the problem. Since this calculator has been tested to work with many setup and entry combinations, I probably won't be able to find and fix the problem without knowing your set-up and the data you entered into the calculator. If you reset the calculator before opening this form, please re-enter the entries that didn't work and click the Get Data button. You can clear this field if you're not comfortable sharing it and/or if the calculator is working properly for you. Platform, Web Browser, & Data

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Step #1:

Indicate whether or not you want to do a side-by-side comparison, or just calculate the purchase and ownership costs of a single vehicle.

Step #2:

If you want the calculator to calculate how many hours you will need to allocate to working in order to cover the purchase and ownership costs, enter your Real Hourly Wage.

Step #3:

Complete all 16 of the purchase and ownership cost related fields. Instructions for each field can be opened by tapping their adjacent "i" icons. Some of entry rows also include expandable mini calculators for determining the values to enter into the main calculator.

Note if you are doing a side-by-side comparison, you can save some time by completing all of the single scenario fields first, and then scrolling back up to the top of the calculator, moving the "Double?" switch to "Yes", and then tapping the "Copy #1 Entries to #2 Fields" button.

Step #4:

Tap the "Calculate Car Buying Cost" button. This will populate the Purchase and Ownership Costs Chart cells with the calculated values, as well as generate a summary and a "Printer Friendly Report" button.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

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Calculator Data

Data Record Title

Backup Data

Click Latest button, copy data to a text-only document, then save to your hard drive.

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Help and Tools

$ecret

The price tag is only the tip of the car cost iceberg.

When you are looking to buy a car do you only consider the monthly payment when deciding whether or not you can afford to purchase the car? If so, then your "personal finance" luxury liner stands a good chance of meeting the same fate as the Titanic.

The moment you sign on the dotted line of an automobile title, you immediately obligate yourself to a host of costs that come attached to the price tag. Let's briefly discuss each cost before we use the car buying calculator to expose and size up the costs that are located beneath the surface of an auto purchase.

Tax, Fees, License, Extended Warranty Costs

In addition to the purchase price of the car, you can also expect to be charged sales tax (if applicable) as well as your initial title transfer and license fees. Sadly, many people simply add these costs to the financing package, meaning they will be paying interest on these upfront fees for years to come.

Depreciation Costs

This is the most important, yet most overlooked and least understood of all costs associated to buying and owning a vehicle -- or any other depreciable asset for that matter.

In case you don't know what "depreciation" is, depreciation can be defined as the amount by which an asset wears out (or progresses toward becoming obsolete) for a given period of time.

Or to put it another way, depreciation is the drop in resale value (what you can sell the asset for) for a given period of time. Typically an asset depreciates at a faster rate when it's newer, and at a slower rate as it becomes older.

As it relates to an auto purchase, the value of the monthly depreciation of a vehicle is equal to the amount you should be setting aside in order to replace the vehicle once it has reached the end of its useful life.

If you're not setting aside a vehicle's depreciation as it occurs (which is over above any auto loan payment you're already making), guess what you will have to do when it's time to replace the vehicle? Yep, you're going to have to continue to pad the huge bonus checks being paid to the lending institution executives.

But wait! It's not enough to know what depreciation is, you must also understand the difference between two types of depreciation. In addition to normal depreciation that occurs as an asset wears out or becomes obsolete, there is also a type of depreciation I refer to as Warp Speed Depreciation.

Warp speed depreciation is the type of depreciation that occurs the moment something goes from being "new" to being "used." The instant you sign the papers to become the proud owner of a brand new car, the brand new car becomes a "used" car and the resale value plummets by as much as 20% of the purchase price!

This means that the absolute worst thing you can do is to buy a brand new vehicle every 1-2 years. That's because your average annual cost of depreciation will likely run in the 20% range, whereas buying a new car every ten years, or a two-year-old car every two years, may lower your average annual cost of depreciation to under 10%.

If you want to see for yourself just how drastic of an effect depreciation can have on your potential future wealth, be sure to experiment with various new and used car buying scenarios using the Car Depreciation Calculator.

Finance Costs

If you finance a car purchase, you will increase the cost of the car by the amount of the interest charges and loan fees that will be tacked on to the principal borrowed.

Insurance Costs

Of course you will also need to make insurance premiums on your car. Typically the more expensive and more sporty the car, the higher your insurance premiums will be. Even higher if you are forced to purchase full coverage in order to qualify for financing.

Fuel Costs

The more you drive your car, the more it will cost you to fuel the vehicle. If you want to calculate MPG and compare car gas mileage expenses, be sure to try out the Fuel Mileage Calculator.

Maintenance & Repair Costs

On average you can expect to pay 3% of the purchase price per year to repair and maintain your car (less in early years, more in later later years). If you do the repairs and maintenance yourself, the cost would be what your time is worth if you had instead used that time to earn an income.

Storage Costs

If you park your car in a garage, any utilities attributable to the garage -- along with the depreciation of the garage structure and fixtures -- is all part of the cost of owning the automobile.

Ownership Cost Meter Needed

Everything you own that can wear out or become obsolete, is doing so at this very moment. If it were possible to install a cost of ownership meter on your life, you would be shocked at how much value the whole of your possessions loses on a daily basis. Unfortunately these costs accrue without a meter to track them, and often only come into light as each asset needs replacing.

When it comes to buying and owning assets that wear out or become obsolete, the bottom line is that if you are not setting aside money to replace these items as they wear out, your financial net worth is likely losing ground, not gaining ground.

Finally, once you become fully aware of the costs associated to buying and owning depreciable assets, you also need to realize that in order to pay for these costs, you must trade free time for work time. In other words ...

The more things you own, the more the things you own ... OWN YOU!

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Car Buying Calculator

Car Buying Calculator

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About

Instructions

Step #1:

Step #2:

Step #3:

Step #4:

Saving Entries:

Numbers and Decimals:

Popup Tool Tips:

Disclaimer:

Scrolling & Shrinking:

Disclaimer:

Glossary

Pocket Calculator

Data Management

Favorites

About the Redesign

Car Buying Calculator

Selected Data Record:

Double scenario?

Copy #1 Entries to #2 Fields:

Real hourly wage:

Enter Purchase and Ownership Cost Variables:

Identifying description:

Total price of the car, including options:

Applicable sales-tax percentage:

Annual cost of licensing this vehicle:

Extended warranty cost, if applicable:

Will you be financing this vehicle?

Down payment amount:

Financing percentage rate:

Number of months financed:

Annual insurance premium:

Miles you expect to drive car per year:

Vehicle's estimated MPG rating:

Local cost of one gallon of gasoline:

Age of car in years:

Years you expect to own this car:

Monthly maintenance and repair cost:

Monthly "What's New" Email Update:

About

Instructions

Step #1:

Step #2:

Step #3:

Step #4:

Saving Entries:

Numbers and Decimals:

Popup Tool Tips:

Disclaimer:

Scrolling & Shrinking:

Disclaimer:

Glossary

Pocket Calculator

Data Management

Calculator Data:

My Note:

Help and Tools:

Favorites