Cost Per Mile to Own Calculator

About this calculator

The cost per mile to own a vehicle divides its total annual ownership cost — depreciation, insurance, fuel, maintenance, repairs, registration, and financing — by the miles driven that year, producing a single figure that captures the true economics of car ownership far more completely than fuel cost alone. A car that looks cheap to fuel can still carry a high cost per mile once depreciation and insurance are folded in, while a higher-mileage driver spreads fixed costs like insurance and registration across more miles, lowering the per-mile figure even if total spending is similar.

This is the same underlying logic behind the IRS standard mileage rate used for business tax deductions and mileage reimbursement, and rideshare and delivery drivers rely on it to understand their real per-mile profit margin after accounting for depreciation and wear, not just the fuel and time they notice day to day. Car shoppers also use it to compare total ownership cost across two different vehicles rather than comparing sticker prices or fuel economy ratings in isolation.