Cost-Per-Mile Calculator
Calculate true cost per mile across fuel, depreciation, insurance, maintenance, repairs and financing. The result tells you what each mile actually costs to drive — useful for ride-share, delivery, mileage reimbursement and lease-versus-buy decisions.
Cost-per-Mile Tracker
Sum all six cost buckets and divide by annual miles for your true cost per mile.
How It Works
Cost-per-mile aggregates fixed costs (depreciation, insurance, registration, financing) and variable costs (fuel, maintenance, tires, repairs), then divides by annual miles. AAA tracks this across vehicle classes and publishes annual averages.
How to Use This Calculator
- Enter purchase price or current value, expected ownership years and annual miles.
- Fill in fuel economy and fuel price.
- Add insurance, maintenance and financing if applicable.
- Calculator returns cost per mile and breakdown by category.
Worked Example
Reference Table
AAA "Your Driving Costs" averages at 15 000 mi/year. Lower mileage raises CPM (more fixed cost per mile).
| Vehicle class | Avg CPM (US, 2026) |
|---|---|
| Small sedan (Civic, Corolla) | $0.53 |
| Mid-size sedan (Camry, Accord) | $0.65 |
| Compact SUV (RAV4, CR-V) | $0.70 |
| Mid-size SUV (Highlander) | $0.83 |
| Half-ton pickup (F-150) | $0.95 |
| Compact EV (Bolt, Leaf) | $0.45 |
| Mid-size EV (Model Y) | $0.62 |
Frequently Asked Questions
What's the IRS standard mileage rate?
For 2026 the IRS business mileage rate is $0.70/mi. If your actual CPM is below that, claiming the standard rate maximizes your deduction. If it's above, track actual expenses.
Are EVs really cheaper per mile?
On fuel and maintenance, yes — usually 50–70% less than gas. But higher depreciation and insurance often narrow the total CPM gap to 10–20%.
Why does CPM rise as mileage drops?
Fixed costs (depreciation, insurance, registration) don't change with miles driven. Spread over fewer miles, the per-mile share goes up.
