Total Cost of Ownership Calculator
See what a vehicle really costs over time — not just the sticker price.
Frequently Asked Questions
What is total cost of ownership?
Total cost of ownership (TCO) is the complete expense of owning a vehicle over a set period, including the purchase price, depreciation, insurance, fuel or electricity, maintenance, registration fees, and financing costs. TCO often reveals that a cheaper purchase price does not always mean a cheaper vehicle to own.
Are EVs cheaper to own than gas cars?
EVs typically cost 30-40% less in fuel and maintenance over 5 years. However, EVs depreciate faster (57% over 5 years vs 49% for gas cars) and insurance costs are 15% higher on average. Total cost depends on your annual mileage and local electricity rates.
How much does car insurance cost per year?
The national average is approximately $1,800 per year for full coverage. Luxury vehicles cost 40% more, economy cars 20% less, and EVs about 15% more than equivalent gas models. Your actual rate depends on driving record, location, age, and coverage level.