Car Cost Comparison Calculator

by Minnesota Public Radio

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%.

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Description	New car	Current car
New car: Enter the total purchase price of the car, including options, deducting rebates such as "Cash for Clunkers," and other give-backs. Current car: Enter your car loan balance (or "0" if the car is paid off).
New Car Enter the applicable sales-tax percentage (e.g., .065). Current car: Enter "0".
Enter the annual cost of licensing this vehicle:
Enter the cost of the extended warranty, if applicable:
Are you financing this vehicle? ("y" or "n"):
New car: Enter the amount of your down-payment. Current car: Enter ".01".
If applicable, enter the financing rate (Annual Percentage Rate) as a decimal (6.5% = 0.065):
Enter the number of months financed, if applicable:
Enter annual insurance premium:
Enter the number of miles you expect to drive this car per year:
Enter the vehicle's estimated Miles Per Gallon rating:
Enter the local cost of one gallon of gasoline:
How many years old is the car?:
How many years do you expect to own this car?:
Enter an estimated monthly maintenance and repair cost:
Tax, License, and Extended Warranty Costs:
Depreciation Costs:
Finance Costs:
Insurance Costs:
Fuel Costs:
Maintenance & Repair Costs:
Total cost of buying and owning the car:
Annual cost to own and operate this vehicle:
Cost per mile:
Summary:
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