Using proprietary formulas, we calculate the five-year costs for the seven cost categories that make up the TCO ® (depreciation, insurance, financing, taxes & fees, fuel, maintenance and repairs). You are making a 10% down payment on the vehicle at purchase.You have an above-average credit rating for the purpose of determining your finance rate.You are financing the vehicle using traditional financing, not lease financing.Ownership expenses are estimated for a five-year period.
The True Cost to Own ® calculations use the following set of assumptions: Note that TCO ® is a comparative tool, not a predictive tool - your actual five-year cost of owning a particular vehicle will vary depending on your personal circumstances, such as your driving history and the number of miles you drive. For a used vehicle, we calculate the years the vehicle has been driven using the nominal difference between the current calendar year and the vehicle's model year, and assume that it was driven 15,000 miles during each of those years. In order to estimate certain mileage-dependent costs, we assume that vehicles will be driven 15,000 miles per year. The components of TCO ® are depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, repairs and any federal tax credit that may be available.
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