This mileage calculator can be used to calculate the cost of driving your car or the cost of owning a car. If you plan on owning your car a long time, you will probably notice that the cost it calculates is significantly less than other estimates you find for ownership costs on the internet. That is because this calculator calculates the average cost of owning your car over the entire time you own a car while most of the other estimates you will find make assumptions that you will only own your car for a year or two when depreciation costs are significantly higher than in the last several years of your cars life.
If you don’t have the benefit of a time machine, this calculator will require you to make many estimates and guesses. The good news is that there is a mathematical principal that says when making an estimate the more small estimates you have to make in your calculation, the more accurate your final answer will be because some of your guesses are likely to be high, some are likely to be low, and they should balance each other out. Just take a reasonable guess. To help you out, I have pre-filed the form out with some reasonable guesses
Cool. So what can I do with this mileage calculator?
The original idea of this calculator was to compare 2 cars you are considering purchasing or deciding whether to keep your old car or get a new one. Over the years several articles have been written on other decisions you can make with this calculator.
Fly or drive calculator– Decide if you should fly or drive on your next vacation.
Should you drive further for cheap gas?– Does it make sense to burn gas driving further to get a better price on gas? Maybe. Find out here.
Should you rent a car for your next road trip?– Here is one you might not have thought about before. The biggest cost in running your car isn’t gas, it is depreciation. Every mile you drive uses your car up a little bit and makes it less valuable. So if you are going on a long road trip maybe it makes sense to rent a car instead of putting all those miles on your car. It depends on a lot of different things, so use this calculator to figure it all out.
The Prius no longer makes sense. Should I get rid of mine? Hybrids are a great economic choice when gas prices are high and a bad one when gas prices are low. So what do you do in a world where gas prices are always up and down?
How much money can you make driving for Uber and 3 bad money ideas from twitter– If you are thinking about driving for Uber you won’t make as much money as Uber says you will. Remember that the cost of all those miles you put on your car needs to be subtracted from what Uber pays you to know how much you are really making.