Personal Net Worth and Personal Financial Value

Car Cost Comparison Calculator
When buying a car most people fail to consider ALL of the expenses that will be generated by their purchase. And because nearly all car buying scenarios come with different variables (depreciation rates, interest rates, purchase prices, insurance costs, mpg ratings, etc.), it becomes extremely difficult to compare one buying scenario with another...until now that is. 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 more accurately compare the real cost of one car-buying scenario with the real cost of a second car-buying scenario. To calculatete the cost of buying and owning one particular vehicle, click on the "Single Scenario Calculation" radio button, fill in the left-hand column with the vehicle data and then click the "Compute Purchase & Ownership Costs" button. To compare buying and owning one vehicle with another, click on the "Double Scenario Calculation" radio button, fill in the both columns with each vehicle's data and then click the "Compute Purchase & Ownership Costs" button. If both vehicles have similar data, you can fill in the first column with the "Single Scenario Calculation" radio button selected, and then click on the "Copy Scenerio #1 Entries to Scenario #2" button to fill in the right-hand column (be sure to switch to the "Double Scenario Calculation"). Then just change any cells that are different before computing.
Single Scenario Calculation Double Scenario Calculation

Entry Descriptions	Car Buying Scenario #1	Car Buying Scenario #2
Enter the total price of the car, including options:
Enter the applicable sales-tax percentage:
Enter the annual cost of licensing this vehicle:
Enter the cost of the extended warranty, if applicable:
Will you be financing this vehicle?:
Enter the amount of your down-payment:
Enter the financing rate (Annual Percentage Rate):
Enter the number of months financed:
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:

What is the true financial cost of buying a vehicle?

There are a lot of factors to consider more than just the price of the vehicle and maybe the interest costs involved. You have additional factors, which include taxes, licensing, warranty, financing, insurance, miles driven, mileage, fuel cost and maintenance.

The good news is we can offer some free, financial help with a calculator that will put these variables together in a more easily understood format.

Not only can you calculate the projected cost of car ownership; you can also do a side by side comparison between two vehicles.

Have you thought about buying a hybrid or green car? Have you thought about spending more to get a vehicle with a better fuel mileage car and wondered if it would pay?

Keep in mind that there are many government programs that could offer some tax advantages. Check with your dealer for accuracy of your inputs.

Go ahead, give it a test run, and see which one gives you the best financial advice!