📊 Total Cost of Ownership Calculator – Free Online Vehicle Tool
Compare petrol, diesel, and electric running costs side by side. 100% free, no sign-up required.
Petrol
Diesel
Electric
Cheapest Option: —
Savings (Petrol vs Electric): £0.00
How to Use the Total Cost of Ownership Calculator
The Total Cost of Ownership Calculator is a powerful tool designed to help you compare the running costs of petrol, diesel, and electric vehicles side by side. Whether you're choosing your next car or deciding between fuel types, this tool gives you clear, accurate results to inform your decision.
Step 1: Enter your annual mileage and ownership period.
Step 2: Enter petrol, diesel, and electric fuel prices and efficiency.
Step 3: Enter insurance costs for each vehicle type.
Step 4: Enter annual tax, MOT, and service costs.
Step 5: Click "Calculate" and the tool will show you the total cost for each fuel type over your ownership period.
Why Use a Total Cost of Ownership Calculator?
Understanding the total cost of ownership is essential for:
- Choosing a vehicle – compare petrol, diesel, and electric
- Budgeting – know exactly how much your vehicle will cost
- Saving money – identify which fuel type is cheapest for you
- Environmental impact – reduce your carbon footprint
Whether you're a driver, business owner, or fleet manager, this tool is essential for making informed decisions about your vehicle.
Understanding Total Cost of Ownership
Total cost of ownership includes:
- Fuel costs – the main ongoing expense
- Insurance – varies by vehicle type and fuel
- Tax, MOT, and service – fixed annual costs
- Depreciation – not included but important
Typical savings for electric vs petrol over 3 years:
- 10,000 miles/year: Save £1,500-£2,500
- 12,000 miles/year: Save £2,000-£3,000
- 15,000 miles/year: Save £2,500-£4,000
These are estimates – use the calculator for an accurate measurement.
Petrol vs Diesel vs Electric – Which Is Cheapest?
Here are some typical comparisons for UK drivers:
- High mileage (15,000+ miles/year): Electric is cheapest
- Medium mileage (8,000-12,000 miles/year): Diesel and electric are similar
- Low mileage (under 8,000 miles/year): Petrol may be cheaper due to lower upfront costs
Use the calculator to find the best option for your specific driving habits.
Frequently Asked Questions
1. What is total cost of ownership?
Total cost of ownership is the complete cost of owning and running a vehicle, including fuel, insurance, tax, MOT, servicing, and other expenses.
2. Is electric cheaper than petrol over the long term?
Yes, electric vehicles are typically cheaper to run over 3-5 years, especially if you do high mileage and charge at home.
3. How much can I save by switching to electric?
You can save £1,500-£4,000 over 3 years, depending on your mileage and charging habits.
4. Does insurance cost more for electric cars?
Electric cars can cost slightly more to insure, but savings on fuel and tax often outweigh this.
5. What is the best vehicle type for my mileage?
Use our calculator to compare petrol, diesel, and electric for your specific mileage and driving habits.
6. Does this calculator include depreciation?
No, this calculator focuses on running costs. Depreciation varies by vehicle model and should be considered separately.
7. Can I use this calculator for company cars?
Yes, this calculator works for both personal and company vehicles.
8. How often should I review my vehicle costs?
Review your vehicle costs annually or when fuel prices change significantly.
Related Tools
If you found this total cost of ownership calculator useful, you might also like these related vehicle tools:
- Fuel Savings Calculator – compare petrol, diesel, and electric costs
- Annual Vehicle Cost – calculate total yearly running costs
- Running Costs Calculator – calculate cost per mile and yearly running costs
- EV Charging Calculator – calculate electric vehicle charging costs