Calculate your true cost per mile for driving or business reimbursement.
Annual Expenses
Value lost per year
Results Title
Total Per Mile$0.57True cost of one mile
Monthly Cost$567Average per month
Annual Total$6800
Depreciation Tip
New cars can lose 20% of their value in the first year. Buying a 3-year-old vehicle significantly lowers your cost-per-mile.
Overview
Cost per mile includes fuel, maintenance, depreciation, insurance, and registration. Essential for business reimbursement, ride-sharing profitability, and personal budgeting. IRS standard rate provides simplified deduction option.
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Pro Tips
The more you drive, the lower your per-mile cost (since fixed costs like insurance are spread out).
Maintain your vehicle regularly to avoid expensive emergency repairs later.
Fun Fact
Did you know? For many owners, the cost of just sitting in the driveway (depreciation + insurance) is higher than the cost of fuel!
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Fun Facts
Formula: Cost/Mile = Total Annual Costs / Total Miles Driven
