Calculating the true cost of driving your vehicle is essential for budgeting and understanding the total financial impact of your transportation. This calculator breaks down your expenses into several key components: fuel, maintenance, tires, depreciation, and insurance.
How the Calculation Works:
The calculator uses the following formulas to estimate your total driving cost over the specified distance:
Fuel Cost:
First, we determine the total gallons of fuel needed by dividing the total distance by the vehicle's fuel efficiency (Miles Per Gallon). Then, we multiply the total gallons by the price per gallon.
Formula: (Total Distance / Fuel Efficiency) * Fuel Price per Gallon
Maintenance Cost:
This is calculated by multiplying the total distance driven by the cost of maintenance per mile.
Formula: Total Distance * Maintenance Cost per Mile
Tire Cost:
Similar to maintenance, this is calculated by multiplying the total distance driven by the tire cost per mile.
Formula: Total Distance * Tire Cost per Mile
Depreciation Cost:
This estimates the loss in value of your vehicle due to mileage. It's calculated by multiplying the total distance driven by the depreciation rate per mile.
Formula: Total Distance * Depreciation Rate per Mile
Insurance Cost Component:
Your annual insurance cost is divided by the estimated annual miles driven to get a per-mile insurance cost. This is then multiplied by the total distance driven to attribute a portion of the annual insurance to this specific trip.
Formula: (Insurance Cost per Year / Estimated Annual Miles Driven) * Total Distance
Total Drive Cost:
All the above costs are summed up to provide the total estimated cost for the specified distance.
Formula: Fuel Cost + Maintenance Cost + Tire Cost + Depreciation Cost + Insurance Cost Component
Why Use a Drive Cost Calculator?
Budgeting: Accurately estimate expenses for road trips or regular travel.
Decision Making: Compare the cost of driving versus other modes of transport (e.g., public transit, ride-sharing).
Vehicle Comparison: Understand the running costs of different vehicles before purchasing.
Business Reimbursement: Determine fair mileage reimbursement rates.
Financial Awareness: Gain insight into the true total cost of car ownership beyond just the purchase price and loan payments.
By inputting your vehicle's specific details and your driving habits, you get a clear picture of your driving expenses.
function calculateDriveCost() {
var distance = parseFloat(document.getElementById("distance").value);
var fuelEfficiency = parseFloat(document.getElementById("fuelEfficiency").value);
var fuelPrice = parseFloat(document.getElementById("fuelPrice").value);
var maintenanceCost = parseFloat(document.getElementById("maintenanceCost").value);
var tireCost = parseFloat(document.getElementById("tireCost").value);
var depreciationRate = parseFloat(document.getElementById("depreciationRate").value);
var insuranceCost = parseFloat(document.getElementById("insuranceCost").value);
var annualMiles = parseFloat(document.getElementById("annualMiles").value);
var totalCost = 0;
var fuelCost = 0;
var calculatedMaintenanceCost = 0;
var calculatedTireCost = 0;
var calculatedDepreciationCost = 0;
var calculatedInsuranceCostComponent = 0;
// Validate inputs
if (isNaN(distance) || distance <= 0 ||
isNaN(fuelEfficiency) || fuelEfficiency <= 0 ||
isNaN(fuelPrice) || fuelPrice < 0 ||
isNaN(maintenanceCost) || maintenanceCost < 0 ||
isNaN(tireCost) || tireCost < 0 ||
isNaN(depreciationRate) || depreciationRate < 0 ||
isNaN(insuranceCost) || insuranceCost < 0 ||
isNaN(annualMiles) || annualMiles <= 0) {
document.getElementById("result").innerHTML = "Please enter valid positive numbers for all fields.";
return;
}
// Calculate fuel cost
var gallonsNeeded = distance / fuelEfficiency;
fuelCost = gallonsNeeded * fuelPrice;
// Calculate maintenance cost
calculatedMaintenanceCost = distance * maintenanceCost;
// Calculate tire cost
calculatedTireCost = distance * tireCost;
// Calculate depreciation cost
calculatedDepreciationCost = distance * depreciationRate;
// Calculate insurance cost component per mile and total for the distance
var insurancePerMile = insuranceCost / annualMiles;
calculatedInsuranceCostComponent = distance * insurancePerMile;
// Calculate total cost
totalCost = fuelCost + calculatedMaintenanceCost + calculatedTireCost + calculatedDepreciationCost + calculatedInsuranceCostComponent;
document.getElementById("result").innerHTML =
"Total Estimated Drive Cost: $" + totalCost.toFixed(2) +
"(Fuel: $" + fuelCost.toFixed(2) +
", Maintenance: $" + calculatedMaintenanceCost.toFixed(2) +
", Tires: $" + calculatedTireCost.toFixed(2) +
", Depreciation: $" + calculatedDepreciationCost.toFixed(2) +
", Insurance Component: $" + calculatedInsuranceCostComponent.toFixed(2) + ")";
}