Monthly Car Ownership Cost Calculator
Enter each of your monthly car expenses to see the total cost of running your vehicle. Use this to budget or compare the total cost of different cars.
Frequently asked questions
What is the average monthly cost of owning a car in the UK?
The RAC estimates the average UK driver spends £350-£500 per month on total car costs including finance, fuel, insurance, VED, servicing, and parking. This varies hugely depending on whether you own the car outright or have finance, and your mileage.
How do I work out my monthly servicing cost?
Take your last annual service bill and divide by 12. If your car is older, add a contingency for unexpected repairs. A good rule of thumb is to budget £30-£50 per month for a mainstream car, £50-£80 for a premium brand, and £15-£25 for an EV.
Should I include depreciation?
This calculator covers out-of-pocket monthly costs. Depreciation is a real cost but not a monthly cash outlay (you experience it when you sell). For a full picture including depreciation, use the True Cost of Ownership calculator.
How much should I budget for parking?
Parking costs vary enormously by location. Many UK drivers pay nothing (driveway or free street parking). In central London, a residential permit can cost £100-£400 per year, and workplace parking £200-£500 per month. Include any regular parking charges you pay.
What percentage of income should go on a car?
A common rule of thumb is that total car costs (including finance) should not exceed 15-20% of your take-home pay. If your monthly car costs are pushing above this, consider a less expensive vehicle or reducing mileage.
These calculations are estimates based on 2026/27 HMRC and DVLA rates. Speak to a lender or qualified financial adviser for a personalised quote.