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New vs Used Car Calculator

Updated

Compare two vehicles — new and used — across monthly payment, interest, depreciation, and total ownership cost.

New cars usually win on financing rate, warranty coverage, and long horizons. Used cars usually win on depreciation already absorbed, lower insurance premiums, and short horizons. Comparing total cost over your real ownership horizon is the only honest answer.

Estimate only. Estimate only. Not a loan offer, lender quote, dealer quote, lease agreement, retail installment sales contract, DMV estimate, or financial advice. Actual rates, payments, taxes, fees, incentives, residual values, insurance, fuel, and maintenance costs may vary.

New

Used

New

$667.21/mo

  • Total cost: $57,388.15
  • Total interest: $5,932.60
  • Upfront cash: $5,100.00

Used

$417.19/mo

  • Total cost: $45,859.12
  • Total interest: $4,211.40
  • Upfront cash: $3,820.00

Best by category

  • Lowest monthly payment: Used
  • Lowest total interest: Used
  • Lowest upfront cash: Used
  • Lowest total cost: Used

Note

Estimates only

How this is calculated

For each vehicle we compute monthly payment, interest, depreciation, and insurance/fuel/maintenance costs over your ownership horizon.

For when each side tends to win, read new vs used car cost: which wins when.

Frequently asked questions

Is used always cheaper?
Often initial cost and depreciation are lower for used, but financing rates may be higher and repair risk increases with age.

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