True Cost Per Mile
All-in cost of driving, including depreciation.
All-in cost per mile
$0.568
$6820/yr · 84,000 total miles
Where the cost goes
Depreciation (60% over hold)$21000
Gas total$9800
Insurance + maintenance + registration$16940
AAA's 2024 average is about $0.72/mile for a new car driven 15,000 miles a year. Used cars at $0.30–$0.50 are much cheaper. The IRS standard mileage rate of $0.67 is a tax-deduction figure that bakes in average cost; use this tool for your actual numbers.
About
Enter purchase price, hold years, miles per year, MPG, and recurring costs (insurance, maintenance, registration). Get the true per-mile cost. Most people forget depreciation; AAA's average is around $0.72/mile for new cars.
How to use
- Enter car price and hold years.
- Enter miles per year and MPG.
- Enter recurring costs.
FAQ
Why is depreciation 60%?+
Average across mainstream cars over a typical 5–7 year hold. Trucks and Toyotas drop less; luxury and EVs drop more. Adjust by changing the hold years.