Purchasing a vehicle can feel overwhelming just with searching inventory alone. In additional to the purchase price of the vehicle there are numerous other factors that play into your monthly "true" cost of ownership. Check out our calculator below!
Estimate your monthly vehicle ownership costs based on your location and vehicle details. Please note that this calculator is using state-level estimates and will not be 100% accurate.
Monthly Vehicle Payment: $0.00
Total Monthly Cost (with extras): $0.00
The average transaction price for a new car in 2024 was $48,401, and used cars averaged $25,251. Financing costs depend on the loan amount, interest rate, and term length which can vary substantially depending on credit history and if the car is being purchased new or used.
Car insurance premiums very by state and coverage level. The average annual cost of insurance is an important factor to consider when purchasing a car, and ca range widely depending on driving history and location.
Routine maintenance (e.g., oil changes, tire rotations) averages $126 per month for new vehicles. Repairs outside of warranty coverage can add significant costs.
These include sales tax at purchase, annual registration fees, and other state-specific charges. For example, sales tax can add thousands to the upfront cost depending on the state.
The average annual cost of car ownership in 2023 was $12,182 ($1,015 per month), marking a 13% increase from 2022 due to rising fuel prices, insurance premiums and maintenance costs.
Please note that vehicle cost calculators are not 100% accurate. While we do our best to provide you with general estimates, please note that your mileage will vary.