New vs. Old Car Costs: A Comprehensive Cost Comparison
Compare the total cost of owning a new car versus an old car, including purchase price, maintenance, fuel efficiency, insurance, and depreciation. Use our detailed breakdown to make an informed financial decision before buying the next vehicle.
How to Use This Calculator
Modify the following values for your specific vehicles:
- Purchase Price: Add estimated sales value for the old car and buying cost for the new one. If leasing, set to zero and add leasing costs in appropriate years
- Depreciation: Varies by car make, model and age. Typical values range 10-20% per year
- Financing Costs: When savings are used, interest lost should be handled as a cost
- Insurance Costs: Annual insurance premiums
- Road Taxes: Annual road/registration taxes
- Expected Mileage & Fuel Costs: Based on consumption and fuel prices
- Service Costs: Scheduled maintenance and servicing
- Regular Maintenance: Tires, brake pads, etc.
- Unexpected Repairs: Budget for unforeseen repair costs
- Other Costs: Supplementary equipment typically needed for a new car
Key Decision Points
Use this calculator to:
- Decide when to replace an old car
- Decide between different cars
- Decide between buying or leasing a car
- Compare similar investments like machinery