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Car Cost

Car Cost

Get the financial facts as you consider Car Sharing...

Here's a way for you to think about the true costs of owning a car. This JavaScript form was developed from a BCAA brochure.

Fixed Costs.

To get the annual depreciated value of your car, subtract the projected sale value from the purchase price, and divide by the years you expect to own it.

If you own...

Purchase Price
Taxes	+
Total Financing Charges	+
Sale Value	–

	=
Years You Expect to Own Your Car	÷

Annual Depreciation	=

If you lease...

Monthly Lease Payment
Taxes	+

	=
	x	12 months

Annual Lease Cost	=

Total Ownership Costs	=>
Insurance	+
Licence & Registration	+

1. Total Fixed Costs	=	per year

Associated Costs

These are the costs paid in large blocks, which can be difficult to quantify as a yearly expense. Follow these typical costs for a newer vehicle (owned for about 4 years), or examine your own records.

Maintenance			$250 per year, or
	Oil changes, filters, brakes, lights and warranty servicing.
Tires & Major Repairs		+	$500 per year, or
	Good tires will cost $150 each. Budget $1400 more for repairs and/or deductibles.
Roadside Assistance		+	$50 per year, or
Other Costs		+	$200 per year, or
	BCAA, car washes, wipers, etc.

2. Total Associated Costs		=	$1000 per year, or	per year

Variable Costs

Monthly Kilometres Driven
	Estimate your monthly kilometres driven.
= OR =
Monthly Fuel Bill
	Estimate your monthly gas costs.

Combine Monthly Home & Away Parking

Even if you own your own home, there is a cost for the garage.

12 months

3. Total Variable Costs

per year

Total Car Costs

1. Total Fixed Costs
2. Total Associated Costs	+
3. Total Variable Costs	+

Total Car Cost	=		per year
	÷	12 months

Total Monthly Car Cost	=		per month

For the same amount of driving, your monthly CAN cost could be about:

(rough estimate only -- actual costs will depend on usage)

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