True Cost Per Mile Calculator — All-In Cost of Driving

Fuel is only part of what a mile costs. Add your yearly depreciation, fuel, insurance, and maintenance, plus your annual mileage, to see the true all-in cost per mile, per month, and per year.

How this calculator works

We add your four big yearly costs — depreciation, fuel, insurance, and maintenance — into a total, then divide by your annual mileage for the true cost of each mile. The bar shows which cost dominates; for most newer cars it’s depreciation, not fuel, which is why the all-in figure surprises people.

What changes the number

Depreciation is usually the largest slice — often more than fuel and maintenance combined on a newer car.
Drive more miles and the per-mile cost falls (fixed costs spread out); drive very little and each mile is expensive.
Pull depreciation from the depreciation calculator and fuel from cost-per-mile for realistic inputs.

Frequently asked questions

Why is my true cost per mile so high?

Because it includes costs you don’t feel at the pump — mainly depreciation, plus insurance and maintenance. The IRS pegs the all-in cost around 60–70 cents a mile for a reason.

What about loan interest?

If you finance, fold the yearly interest into one of the buckets (or add it to depreciation). Cash buyers can leave it out.

How do I get the depreciation figure?

Use the depreciation calculator: take the value lost over your ownership period and divide by the years for a yearly figure.