Keep Old vs. Buy a New Car Calculator

The Used vs New car financial calculator is a helpful tool that allows you to decide whether to keep driving your old car or buy a new one.

General Assumptions

Months:

Sales Tax:

Gas Assumptions

Kilometres or Miles

Kilometers Per Year:

Price of Gas:

Old Car Liters per 100 km:

New Car Liters per 100 km:

Miles Per Year:

Price of Gas:

Old Car Miles per Galon:

New Car Miles per Galon:

Current Car Questions

Average Price for Similar Car:

Amount Owing: Check your auto loan statement to determine the outstanding balance. You will need this number to calculate how much of the car you actually own.

Trade in or Private Sale: Using the trade-in offer is less of a hassle. You can use the car’s equity to offset the sales tax owed. However, the trade-in offer is usually less than what you would receive from a private sale.

Depreciation: The decrease in the car’s value over time.

Current Insurance per Year:

Regular Maintanance per Year:

Extended Warranty Cost: This purchases an additional protection package for your vehicle. Finding an extended warranty that gives you the benefits that you need takes a little effort. Before you purchase one, read the fine print very carefully.

New Car Questions

Additional Down Payment:

Purchase Price:

Finance Rate:

New Insurance per Year:

Regular Maintanance per Year:

Depreciation:

Results

	Keep Old Car	Cash	Finance
Purchase Price	0	0	0
Trade In Value	-	0	0
Down Payment (if sell privately)	-	0	0
Additional Down Payment:	-	1000	1000
Sales Tax	-	0	0
Total Cost	-	0	0
Additional Cash Needed	-	26346	26346
Payment if Financed or Leased The monthly payment to finance the car	-	-	595
Total Interest Cost	-	-	2202
Maintanance Cost	8000	2000	2000
Extented Warranty	0	-	-
Gas	18462	13333	13333
Insurance	7200	7200	7200
Total Cost of Ownership	0	0	0
Remaining Equity if Any	0	0	0
Expenses per Month	0	0	0
Difference per Month	-	0	0