What Does Your Car Really Cost Per Mile?

Q: How do I estimate depreciation without a formula?

A simple approach: take what you could sell the car for today, subtract what you expect it to be worth in three years, and divide by three. Listings for your model and year on any major used-car site give you both numbers. It is an estimate, but it is far better than leaving depreciation out.

Q: Why is my cost per mile so high?

Usually because you drive less than you think. Fixed costs — insurance, registration, depreciation, parking — stay the same no matter how little you drive, so at low mileage every mile carries a large share of them. That is exactly the situation where comparing against rideshare is worth doing.

Gas is the cost everyone remembers, and it is usually the smallest one. Insurance, registration, maintenance, depreciation and parking quietly add up whether you drive or not. Enter your numbers below to see your true annual cost, your cost per mile, and how much of it is fixed. Everything runs in your browser — no sign-up, and nothing you type is sent to a server.

Updated: August 2026

The short version

Your real cost per mile is total annual cost ÷ miles driven — not the price of gas
Fixed costs don't shrink when you drive less, so low mileage means expensive miles
Depreciation is usually the biggest number people forget — estimate it from used-car listings for your model
Once you know your number, compare it against rideshare and transit

Your numbers

Insurance (per year) $

Your actual premium — check your policy or last renewal notice.

Registration, inspection, taxes (per year) $

Maintenance and tires (per year) $

Depreciation or loan payments (per year) $

Simple estimate: (what your car would sell for today − its likely value in 3 years) ÷ 3. If you are still making payments, you can enter those instead — see the FAQ about double-counting.

Parking (per month) $

Enter 0 if you park free at home and at work.

Miles driven per year miles

Fuel economy MPG

Gas price $ / gallon

Why the per-mile number matters

Two drivers can own the identical car with identical bills and have completely different costs per mile. The one driving 15,000 miles a year spreads the fixed costs thin; the one driving 3,000 miles pays the same bills for a car that mostly sits. The per-mile figure is what tells you whether your car is earning its keep — and it is the number you need for any honest comparison with rideshare or transit.

The cost everyone forgets

Depreciation never shows up on a bill, which is why it gets left out of most mental math. But it is real money: the difference between what your car was worth when you got it and what it will be worth when you let it go. For many cars it is the single largest ownership cost. You do not need a formula — used-car listings for your model and year, now and for three-year-older examples, give you a perfectly usable estimate.

Common questions

How do I estimate depreciation without a formula?

Take what you could sell the car for today, subtract what you expect it to be worth in three years, and divide by three. Listings for your model and year on any major used-car site give you both numbers. It is an estimate, but far better than leaving depreciation out.

Should I include my loan payment?

If you are still paying off the car, include the payments — they are money the car costs you every month. Just avoid double-counting: the loan pays for the car's value, which overlaps with depreciation. Either count payments and skip depreciation, or count depreciation and skip the principal part of your payments.

Why is my cost per mile so high?

Usually because you drive less than you think. Fixed costs stay the same no matter how little you drive, so at low mileage every mile carries a large share of them. That is exactly the situation where comparing against rideshare is worth doing.

What costs does this calculator leave out?

Tolls, parking tickets, car washes, accessories, and the value of your time. It also does not model loan interest separately — include it in your fixed costs if you want it counted.

About this page

Last reviewed: August 2026
What the result is: An estimate based on the figures you enter. Actual costs vary by state, vehicle, driving record and local prices.
Your data: All calculation happens in your browser. Nothing you enter is sent to a server or stored. We use Google Analytics for anonymous page-view statistics only — see the privacy policy.

How the calculation works

Total annual cost: insurance + registration + maintenance + depreciation (or payments) + (monthly parking × 12) + (miles ÷ MPG × gas price)
Cost per mile: total annual cost ÷ miles per year
Fixed share: everything except fuel, shown so you can see how much of your cost does not change with driving
Not included: tolls, tickets, washes, accessories, loan interest as a separate line, and the value of your time
Default values are editable starting points, not recommendations. Replace them with your own figures.