How to Calculate a Used Car Price Per Mile

January 27, 2012

When you calculate the used car price per mile of ownership there are several things to take into account. You need to consider gas, tires, insurance, maintenance and little things like a carwash. Although doing the actual math is not difficult once you do it you may be surprised at how much that trip to the mall is actually costing you.

Fuel

The mpg: price estimation can be the easiest thing to figure out or the hardest. It is also the biggest expense most car owners face. The easiest way to figure out your individual mpg is to fill the tank completely with fuel, write the number down and reset the trip meter or write down your odometer reading. Unfortunately to get an accurate reading you will need to almost run it out of fuel four or five times. Once you get five readings you can use an average to figure out what your gas usage is in a month.

Insurance

Just take the amount of your premium and divide it by the number of miles you drive in a year. Most people average about 15,000 miles.

Tires and Maintenance

When calculating tires and maintenance you divide the cost by the mileage. If you have a $100.00 tune up every 30,000 miles, it will cost about $.03 per mile for tune ups. You will need to include car washes, oil changes, etc. to get an accurate figure for maintenance.

Once you get all of the numbers you will be able to calculate your used car price per mile of ownership.

Privacy Policy|Terms of Use|Cookie Policy|Disclaimer
COPYRIGHT 1999-2019 MH Sub I, LLC dba CarsDirect.com