Use this tool to compare the cost of buying a new car versus keeping your current car. We calculate the total cost of ownership over a set number of years, considering factors such as:
By inputting details about your current car and the potential new car, you'll get a comprehensive breakdown of costs to help you make an informed decision.
Looking for a lease comparison calculator?
Try our lease calculator to compare the cost of leasing a new car versus keeping your current car.
Enter the estimated amount you could sell your current car for. This will be used to calculate depreciation and will be automatically added to the cash payment for the new car.
Total Annual Maintenance Cost: £754.00
Projected vehicle details after years:
Value: £0.00
Age: 5 years
Mileage: 50,000.00 miles
Enter an amount up to £0.00.
This is automatically calculated as (Cash Payment from Current Car Sale + Additional Cash Contribution).
Total Annual Maintenance Cost: £554.00
Projected vehicle details after years:
Value: £0.00 (depreciated NaN%)
Age: 0 years
Mileage: 0.00 miles
Deciding whether to keep your current car or buy a new one is a significant financial decision. This car cost comparison tool helps you make an informed choice by considering various factors such as fuel efficiency, maintenance costs, insurance, depreciation, and more.
By inputting details about your current car and a potential new car, you can see a side-by-side comparison of the total cost of ownership over time. This allows you to determine which option is more cost-effective in the long run.
Remember, while cost is an important factor, it's not the only consideration when choosing a car. Safety features, reliability, comfort, and personal preferences should also play a role in your decision-making process.
This tool takes into account various factors including purchase price, fuel efficiency, maintenance costs, insurance premiums, road tax, depreciation, and financing costs (if applicable).
The depreciation calculation is based on average UK figures and considers factors such as the car's age, mileage, and initial value. While it provides a good estimate, actual depreciation can vary based on market conditions and specific car models.
Currently, this tool allows you to compare your current car with one potential new car. For comparing multiple new cars, you can run the comparison multiple times, changing the new car details each time.
For electric vehicles, the tool adjusts the fuel efficiency calculation to use kWh/mile instead of MPG. It also considers the typically lower maintenance costs and different road tax rates associated with electric vehicles.