Cost Per Mile Calculator — Calculate Your True Driving Cost

Annual Fuel Cost ($)

Annual Insurance ($)

Annual Maintenance/Repairs ($)

Annual Depreciation ($)

Other Annual Costs ($)

Annual Miles DrivenEnter valid annual miles.

Cost Per Mile

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Total Annual Cost

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How to Use This Tool

Enter your annual vehicle costs: fuel, insurance, maintenance, depreciation, and other expenses.
Enter your annual miles driven.
Click Calculate for your true cost per mile.

The Cost Per Mile Formula

Cost Per Mile = Total Annual Vehicle Costs ÷ Annual Miles Driven

Why Include Depreciation

Depreciation is often the largest — and most overlooked — cost of vehicle ownership. Including it gives you a true "all-in" cost per mile, rather than just out-of-pocket cash expenses, which is important for comparing against mileage reimbursement rates or ride-share earnings.

Comparing to the IRS Standard Mileage Rate

The IRS publishes an annual standard mileage rate (used for tax deductions and often referenced for reimbursement) that estimates the average all-in cost per mile for a typical vehicle — comparing your own calculated cost per mile against this rate can reveal whether your specific vehicle costs more or less than average to operate.

Uses for This Calculation

Deciding if a mileage reimbursement rate from an employer is fair
Evaluating whether ride-share or delivery driving is actually profitable after vehicle costs
Comparing the true cost of driving versus other transportation options

Frequently Asked Questions

Why does this include depreciation as a "cost"?

Depreciation represents real economic value lost as the vehicle ages and accumulates miles, even though it's not a cash expense you pay directly — including it gives a complete, accurate picture of what driving actually costs you.

How does this compare to the IRS standard mileage rate?

The IRS publishes an annual per-mile rate meant to approximate average all-in vehicle costs for tax and reimbursement purposes — your own calculated cost per mile may be higher or lower depending on your specific vehicle, driving habits, and location.

This calculator is provided for general informational and estimation purposes only. Results should not be treated as professional financial, tax, legal, medical, or engineering advice. Always verify critical calculations with a qualified professional or official source before making decisions.