Cost Per Mile Calculator
Add up every running cost to find what each mile really costs you.
Please note: Estimates for planning only. Real fuel economy, depreciation, insurance and lease terms vary widely by vehicle, region and driving style. Confirm figures against a dealer quote or your own records before relying on them.
What the Cost Per Mile Calculator does
The real cost of driving is far more than fuel. Adding depreciation, insurance, maintenance, interest and tax, then dividing by annual distance, gives a per-mile figure that is typically three to five times the fuel cost alone — the number that matters when deciding whether a journey is worth taking by car.
Formula
Litres per year = Distance ÷ 100 × L/100kmFuel cost = Litres × Price per litreTotal annual cost = Fuel + Depreciation + Insurance + Maintenance + Interest + Tax + TyresCost per mile = Total annual cost ÷ Miles per year
Inputs explained
| Input | Unit | Required | Notes |
|---|---|---|---|
| Distance driven per year | number | Yes | Accepts more than 0. |
| Distance unit | one of 2 options | Yes | — |
| Fuel economy | number | Yes | Accepts more than 0. |
| Fuel economy measured in | one of 4 options | Yes | — |
| Fuel price per unit | selected currency | Yes | Accepts more than 0. |
| Fuel priced per | one of 3 options | Yes | — |
| Insurance per year | selected currency | Optional | Accepts 0 or more. |
| Maintenance and repairs per year | selected currency | Optional | Accepts 0 or more. |
| Tyres per year | selected currency | Optional | Accepts 0 or more. |
| Tax, registration and inspection per year | selected currency | Optional | Accepts 0 or more. |
| Depreciation per year | selected currency | Optional | Accepts 0 or more. |
| Loan interest per year | selected currency | Optional | Accepts 0 or more. |
| Parking and tolls per year | selected currency | Optional | Accepts 0 or more. |
| Currency | one of 10 options | Optional | — |
How to use it
- Choose Distance unit and Fuel economy measured in.
- Enter Distance driven per year, Fuel economy and Fuel price per unit.
- Optionally add Insurance per year, Maintenance and repairs per year and Tyres per year.
- Select Calculate.
Worked example
12,000 miles a year at 30 mpg with $3.50 fuel, plus $3,500 depreciation, $1,200 insurance, $800 maintenance, $600 interest, $200 tax and $200 tyres.
- Distance
- 12,000 mi
- Economy
- 30 mpg
- Fuel
- $3.50/gal
Fuel is 400 gallons at $1,400. Total annual cost $7,900, which is $0.658 per mile — fuel is only 18% of it.
Frequently asked questions
Why is my cost per mile so much higher than the fuel cost?
Because fuel is typically only a fifth of the total. Depreciation, insurance and maintenance dominate, and they are all easy to forget because they are not paid at the pump.
Should I include depreciation if I am not selling?
Yes. It is a real cost you incur whether or not you realise it, and ignoring it makes the car look far cheaper to run than it is.