New vs Used Car Cost Calculator — Rex's Toolbox

Rex says

Money math without the spreadsheet headache. Plug in your numbers and I'll show you exactly where the dollars land.

Try a scenario

Click to load — tweak from there.

Inputs

New car price($)

Used car price (3yr old)($)

Loan APR (new vs used avg)(%)

Years you'll own it

New car est. annual repairs($)

Used car est. annual repairs($)

Result

Lower total cost option

Used

New car total cost

$35,227

Used car total cost

$23,402

Savings with the winner

$11,825

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How to use this

1Enter new car price ($).
2Enter used car price (3yr old) ($).
3Enter loan apr (new vs used avg) (%).
4Enter years you'll own it.
5Enter new car est. annual repairs ($).
6Enter used car est. annual repairs ($).
7Read your lower total cost option on the right — it updates as you type.
8Hit Share to keep the scenario or send it to someone.

About this calculator

A new car loses its steepest depreciation in the first three years, while a used car saves you that hit but can carry higher repair costs and a higher interest rate. This calculator models both purchases over your ownership horizon — purchase price, loan interest, depreciation to resale value, and an estimated annual repair/maintenance delta — and totals the real cost of each so you can see which one wins for how long you actually plan to keep the car.

FormulaTotal Cost = Price − Resale Value + Total Loan Interest + (Annual Repairs × Years). Breakeven = the ownership year where cumulative costs cross.

Worked example

Using the values the calculator loads with:

Inputs

New car price: 38000 $
Used car price (3yr old): 24000 $
Loan APR (new vs used avg): 6.5 %
Years you'll own it: 6
New car est. annual repairs: 250 $
Used car est. annual repairs: 900 $

Results

Lower total cost option: Used
New car total cost: $35,227
Used car total cost: $23,402
Savings with the winner: $11,825

What each field means

Inputs

New car price ($): The new car price used in the calculation, measured in $. Starts at 38000 $ so you have a working example on load.
Used car price (3yr old) ($): The used car price (3yr old) used in the calculation, measured in $. Starts at 24000 $ so you have a working example on load.
Loan APR (new vs used avg) (%): The loan apr (new vs used avg) used in the calculation, measured in %. Starts at 6.5 % so you have a working example on load. Accepted range: 0–25 %.
Years you'll own it: The years you'll own it used in the calculation. Starts at 6 so you have a working example on load. Accepted range: 1–15.
New car est. annual repairs ($): The new car est. annual repairs used in the calculation, measured in $. Starts at 250 $ so you have a working example on load.
Used car est. annual repairs ($): The used car est. annual repairs used in the calculation, measured in $. Starts at 900 $ so you have a working example on load.

Results

Lower total cost option: Returned as a plain value and shown as the headline result. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
New car total cost: Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
Used car total cost: Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
Savings with the winner: Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.

FAQ

Does this include insurance?

No — insurance is usually close between a 3-year-old used car and a new one, so it's left out to keep the comparison focused on the costs that actually diverge: depreciation, financing, and repairs.

Why does new sometimes win?

If you hold the car a long time, new-car depreciation slows dramatically after year three while a used car's repair bills climb, so a 8-10 year hold often favors new despite the higher purchase price.

What repair estimate should I use for used?

Check CPO or independent reliability data for the specific model and age; $700-$1,200/year is typical for a 3-5 year old mainstream car once the factory warranty expires.

Accuracy and limitations

Results are estimates before tax, fees, and inflation unless an input explicitly covers them.
Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.
This is educational maths, not financial advice. Check anything contractual with the lender or your accountant.

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Cite this calculator

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APA

RevenueLab. (2026). New vs Used Car Total Cost Calculator. Retrieved from https://www.revenuelab.fyi/toolbox/new-vs-used-car-cost

HTML

<p>Source: <a href="https://www.revenuelab.fyi/toolbox/new-vs-used-car-cost" target="_blank" rel="noopener">New vs Used Car Total Cost Calculator — RevenueLab</a> (2026).</p>

Markdown

Source: [New vs Used Car Total Cost Calculator — RevenueLab](https://www.revenuelab.fyi/toolbox/new-vs-used-car-cost) (2026).