Cost Per Mile Tool Calculator
Frequently Asked Questions
What's included in cost per mile?
Cost per mile includes: fuel costs, maintenance (oil changes, tires, repairs), insurance premiums, registration fees, and depreciation (value loss over time). It represents the true total cost of owning and operating your vehicle.
Why is cost per mile higher than just fuel cost?
Cost per mile includes many fixed and variable costs beyond fuel: maintenance, insurance, registration, and depreciation. These costs are often 2-3x higher than fuel alone, especially on new vehicles where depreciation is significant.
How does mileage affect cost per mile?
Higher annual mileage spreads fixed costs (insurance, registration) over more miles, reducing per-mile costs for those items. However, variable costs (fuel, maintenance) increase proportionally with mileage. The optimal balance depends on your driving patterns.
What's a typical cost per mile?
Typical cost per mile ranges from $0.50-$0.80 for most vehicles, with fuel accounting for $0.10-$0.20 per mile. Luxury vehicles and trucks may cost $0.80-$1.20 per mile due to higher depreciation, insurance, and fuel costs. Older vehicles typically cost less per mile (less depreciation).
