This calculator allows you to add up nearly all of the expenses of your current car and compare them to the cost of a new car you're thinking about buying, perhaps using the Cash for Clunkers rebate program. The calculator factors in expenses such as gas mileage, depreciation, financing, insurance and maintenance. Click here to see if your car is eligible for the Cash for Clunkers program.
Instructions: For the first car you want to purchase, fill in ALL the blanks in the new car column. Do the same for your current car and click on "Compute Purchase & Ownership Costs." You'll see the two separate analyses side-by-side in the two columns.
Tip: The calculator does not accept punctuation, except decimal points. Eliminate commas and dollar signs, and enter percentages using decimals, not the % character. For example, .065 instead of 6.5%.