Cost of Motoring

Calculate a new car's total cost, compare up to three new cars' costs or compare a new and used car to see which is best for value.

How is the cost of motoring calculated?

Several factors go into calculating the cost of motoring and finding out the total cost of buying/owning a car.
Roll your mouse over the headings below for more information about each one.

Depreciation

Age and miles cause depreciation. It’s the biggest hidden cost because its full impact is often only felt when the car is sold. Some cars depreciate quickly, others hold their value better. Depreciation is calculated from the Parkers Target Price (an easily negotiated discount off the new on-the-road price) and deducting the car’s future value. You can calculate depreciation for any car up to 6 years old, and can project the costs over 1 to 7 years.

Loan repayments

The cost of a loan, lease type deal or even paying cash (as it’s not earning interest in a savings account). The cost of motoring defaults to a 25% deposit and an average rate of 9 % APR. You can enter your own deposit amount and loan rate for a bespoke calculation.

Showroom tax and 1st registration fee

The first year tax (or ‘Showroom Tax’) charge that varies depending on the car’s CO2 emissions. The less polluting cars pay less (or even nothing) and the more polluting cars attracting higher charges. Registration fees are for putting the car on the road including number plates.

Service and repair costs

Includes all servicing and repair costs over the period and mileage chosen. Servicing, tyres, brakes and other components have been priced in. Service and repair costs are based on Main Dealer labour rates and parts prices. Labour rates can vary depending on type of dealer.

Road tax

This is the Vehicle Excise Duty (VED) or car tax disc due every year. For cars registered after March 1st 2001 the amount charged depends on the car’s CO2 emissions – the lower the emissions, the lower the charge.

Fuel

Another big cost and the more frugal a car the lower its fuel costs. Fuel prices are checked daily, and diesel, petrol, hybrid and electric cars are included.

Insurance cover

You have the option of including you annual insurance premium. You may also want to get quotes on the cars you are thinking of buying to add the premium in to the total cost of ownership.

Breakdown cover

This is the typical charge for standard breakdown cover payable annually. It also takes into account any free cover included in the manufacturer’s warranty in the first, or first three years, of the vehicle’s life.

Cost of a used car

Find out the total cost associated with buying and owning of a used car.

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Compare costs of used cars

Compare your current car (or any used car) to another used one to find out how much more or less a new used car would cost you.

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Compare cost of a used car versus new car

Compare your current car (or any used car) to a new one to find out how much more or less a new car would cost you.

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Cost of a new car

Find out the total cost associated with buying and owning of a new car.

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Compare costs of a new car

Select up to three new cars to see how their costs compare and which is best for value.

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