What This Tool Does
The tool is designed to give you a clear picture of your vehicle's operating costs. Just enter a few details like your car's make, model, and annual mileage, and it crunches the numbers for you. What I find most useful is how it breaks down the different cost factors - things like fuel, maintenance, insurance, and depreciation. Seeing it all laid out in one place really helps me understand where my money is going.
How to Use It
When you use the Cost Per Mile Tool, for example, I was surprised to see how much my car's depreciation was costing me each year. Using the tool for my daily driver, a Honda Civic, I get a cost per mile of about $0. 45. That's helpful when I'm budgeting or comparing the economics of different vehicle options. It's a simple but powerful way to get a handle on your car's true ownership costs.
