True Cost of Car Ownership

The costs you do not see

Besides gas, a car loses value every year (depreciation), and the money tied up in it stops earning (opportunity cost). These two are often the biggest costs and never show up on a bill.

Example

A $30,000 car driven 1,000 miles a month costs about $989 a month ($11,871 a year), or $0.99 per mile. Depreciation alone is $375 a month.

Results are estimates for information only and are not financial, legal or medical advice. Rates, taxes and fees vary — confirm with a professional or your lender.