Auto
Why Your Vehicle’s Age Changes Insurance Costs
Your car’s age affects safety, repair costs, and depreciation; key factors that shape your insurance rate. Learn how vehicle age influences premiums and savings.
True Car Cost Tool
Most people only think about their car payment. The real cost is much higher.
Your Vehicle
3 yr
0 yr15 yr
12,000 mi
3,000 mi40,000 mi
Your Costs
$150
$0$500
$0
$0$1,500
$5,916
per year — that's $493/month
Cost Breakdown
Fuel / Energy
24%$1,400
Maintenance
18%$1,040
Depreciation
28%$1,676
Insurance
30%$1,800
Loan Payment
0%$0
Estimates for educational purposes only. Actual rates vary by carrier and individual factors.
How This Tool Works
Your monthly car payment is only part of the story. The true cost of owning a car includes fuel, insurance premiums, maintenance, depreciation, and financing costs. This tool breaks down all these expenses so you can see the full picture and make smarter decisions about your vehicle budget.
Understanding your total ownership cost can also help you decide whether to raise or lower your insurance coverage.
Compare insurance quotes to see if you're overpaying on one of your biggest car expenses
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