When buying a car most people do not consider ALL of the expenses that will be incurred in owning a car. And because nearly all car buying scenarios come with different variables (depreciation rates, interest rates,
purchase prices, insurance costs, mpg ratings, etc.), it is very difficult to compare one buying scenario with another. This calculator will not only help you to forecast the REAL COST of buying and owning a car, but it will also help you to compare the real cost of buying a new car with the real cost of a buying second car. Depreciation on a used vehicle is much lower than a new car.
Shortcut: Fill in all the blanks in the Scenario No.1 column and then click on "Compute Purchase & Ownership Costs." This will automatically copy Scenario No.1 values into the Scenario No.2 column