🔧 Vehicle Depreciation and Cost Per Mile Calculator
Calculate the true per-mile cost of driving your vehicle including depreciation, maintenance, and insurance.
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📘 Complete Guide: Vehicle Depreciation and Cost Per Mile Calculator
Use this free calculator to instantly estimate your numbers. All calculations happen in your browser — no data is stored.
What is the true cost per mile to drive?
AAA calculates the average cost per mile for a medium sedan at $0.60-$0.80 when accounting for depreciation, fuel, insurance, maintenance, and financing. Electric vehicles run $0.40-$0.65/mile.
How does depreciation affect gig worker profitability?
A $30,000 vehicle depreciating 15% annually loses $4,500/year. At 15,000 miles/year, that's $0.30/mile in depreciation alone. Ignoring this makes gig work appear more profitable than it is.
How to minimize vehicle costs as a gig worker?
Drive a reliable high-MPG car purchased outright. Regular maintenance prevents expensive repairs. Compare insurance quotes annually. Consider an EV for fuel savings, especially in states with charging infrastructure.