Tools

True cost of a car

Payment plus depreciation, insurance, fuel, and maintenance.

Price Down Rate % Loan years Years owned Insurance / yr Fuel / mo Residual

True cost is depreciation (price − resale) plus interest while you own the car, insurance, and fuel. Selling before the loan ends adds the remaining balance and subtracts resale, so principal is not counted twice. The rate is whatever you type — 7.2% is an example, not a lender sheet. Educational only.