How much does it cost to own a car each month?
The cost goes far beyond fuel. Insurance, tax, maintenance, car finance payments and small everyday expenses add up each month. Get an estimate here and track the actual cost in Drivvo.
- Monthly cost calculator, no sign-up
- Car finance and insurance spread month by month
- Cost per day and per mile in the app's reports
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Vehicle cost calculator
Enter what you spend. Annual costs are divided by 12 and added to your monthly costs. Leave anything that does not apply blank.
Result
Enter at least one cost to see the total.
This is an estimate based on the figures you entered. In Drivvo, the actual cost comes from your records, month by month.
What goes into the cost of owning a car
A car's costs fall into three groups. If you only add up fuel, you'll think the car costs much less than it does.
Fixed costs
Insurance, vehicle tax and fees, loan repayments and parking at home. You pay them even if the car stays parked.
Variable costs
Fuel, maintenance, tyres, parking, tolls, car washes and fines. They rise the more you drive.
Loss of value
The car is worth less each year. You don't pay this cost each month, but you feel it when you sell.
How to calculate your car's monthly cost
- Add up the costs you pay once a year, such as insurance and tax, and divide by 12.
- Add up the costs of a typical month: fuel, loan repayments, parking and everything else.
- Add the two amounts together. That's your monthly cost.
- For the cost per mile, divide the cost for the period by the distance driven in that period.
Always use the same period. A month with a service or new tyres costs more; the annual average shows the true cost.
How to log your costs in Drivvo
Log each cost as it happens, on your phone or computer. The app adds everything up and breaks it down by type.
Log the expense
In Expense, choose one or more expense types, each with its own amount. The Total cost adds up automatically. The discount, payment method and location help keep things organised.
Split it into instalments
For a car loan or insurance, enter the total amount, the Instalments and the Period. Each instalment counts in the month it's due, and the app shows how much you've paid and how much is left.
See where your money goes
In Reports, the Expense tab shows the total, the amount per day and per mile, and a chart for each month.
Car loan, insurance and taxes in instalments
Paying for insurance in 6 instalments shouldn't make the first month look more expensive than the others. In Drivvo, the total is split into up to 99 instalments, weekly, fortnightly or monthly, and each one counts in the month it's due.
- Each month's cost is accurate, with no spike in the month you paid
- The expense screen shows the instalments paid and those still due
- It also works on the Free plan
- To remember to renew, create a reminder that repeats every year
Where your vehicle's money goes
The app's reports answer questions a calculator can't, using your real figures.
- How much your vehicle cost over a month, a year or any period you choose
- The share of fuel, expenses and services in the total
- Each month's cost, side by side with previous months
- The biggest expenses, such as insurance or parking
- The cost per day and per mile
Cost per mile: compare months and vehicles
Your total cost changes as you drive more or less. Cost per mile shows how much each mile driven costs, so you can compare months or vehicles. Drivvo calculates it automatically from the odometer readings in your records.
Car expense spreadsheet or app
Prefer to write it down? Print the template, note every cost for the month and add them up at the end. It already has the columns and monthly summary.
A spreadsheet only adds up what someone enters later. In the app, you record each cost as it happens, and the cost per month, per day and per mile appears automatically. If you already have a spreadsheet, Drivvo support can import the data into the app. Exporting your records to a spreadsheet is available on paid plans.
Frequently asked questions
How much does it cost to own a car each month?
There is no single figure: it depends on the car, how much you drive, and the insurance and taxes where you live. Add the annual costs divided by 12 to the costs of a typical month. The calculator on this page does the maths, and Drivvo shows the actual figure from your records.
What are the costs of owning a car?
Fixed costs, such as insurance, taxes, finance payments and parking at home; variable costs, such as fuel, maintenance, tyres, parking, tolls and fines; and the car's loss of value over time.
What do you pay for a car each year?
Usually insurance and vehicle taxes and fees, which vary by country, plus scheduled servicing. Divide the total by 12 to see how much to set aside each month, and create a reminder so you do not miss the date.
How do I calculate my car's cost per mile?
Divide the cost for the period by the distance driven in the same period. In Drivvo, the cost per mile appears in reports, calculated from the odometer readings in your records.
How much do I need to earn to own a car?
It depends on what your car costs. Start with the actual monthly cost, including the annual costs divided by 12, and see how much of your income it takes up.
Is owning a car worth it?
Compare the car's monthly cost with alternatives such as public transport, ride-hailing apps or hiring a car. The calculator gives you the figure, and the app tracks it month by month.
How do I log a car loan or insurance in instalments?
Create an expense for the total amount and enter the instalments, the period and the first instalment. Each instalment counts in the month it is due. This also works on the Free plan.
How do I see how much I've spent on my car this month?
In Reports, choose the current month in the period filter. In History, each month has a summary of spending, distance and average.
Can I track my car expenses in a spreadsheet?
Yes. The template on this page can be printed or saved as a PDF. In the app, the calculations are done for you. If you already use a spreadsheet, Drivvo support can import the data; exporting to a spreadsheet is part of the paid plans.
Which app tracks vehicle costs?
Drivvo brings expenses, refuelling and services together in one account and shows the cost per month, per day and per mile. It works for cars, motorbikes and lorries, on Android, iPhone and the web.
Is Drivvo free?
The Free plan lets you log unlimited expenses, refuelling and services, with instalments and reports, for up to 2 active vehicles, with ads. Paid plans remove ads and unlock more vehicles, data exports and attachments.
Can I see the costs of two cars together?
In the app, reports show one vehicle at a time. On the web, the All option totals the costs for the vehicles and shows them side by side.
Start with your next expense
Download Drivvo, log your vehicle's costs and see what it really costs, month by month.
Want to track fuel consumption and maintenance too? See everything Drivvo does for personal use