How to Calculate the Costs of Driving Your Vehicle

Buying a new or used vehicle is a big investment. There’s a lot of things to think about when you’re in the market.

For starters, you know how much money you’re willing to pay for your vehicle, but you may forget to consider how much it will cost to drive and maintain your vehicle. Don’t forget things like fuel, registration, insurance, and maintenance, as these can affect your daily budget in a big way. And, according to Natural Resources Canada, the choices you make about the vehicle you buy and how you drive it have a significant impact on the environment and human health.

Try the CAA Driving Costs Calculator

CAA Driving Costs Calculator

To understand how much it can cost annually to own and operate a vehicle, check out the  CAA Driving Costs Calculator – a free online tool that:

  • Compares fuel costs.
  • Shows the amount of greenhouse gases various vehicle models can emit.
  • Lists the cost of taking public transit in major cities across Canada so you can compare your driving costs.
  • Lists the most fuel efficient vehicles by category to compare with your own vehicle.

Annual Driving Cost Comparison – Car vs Pickup

Using the CAA Driving Costs Calculator, we compared the estimated total annual driving cost based on 20,000 kms driven annually of a popular mid-size car with that of a pickup truck. This also included costs for fuel, insurance, licence and registration, depreciation and maintenance.

Nissan Altima (mid-size)

  • Average consumption: 8.34 L/100km
  • Total annual driving cost: $9,985
  • Total cost per kilometre: $0.50

Ford F150 (pickup truck)

  • Average consumption: 12.66 L/100km
  • Total annual driving cost: $12,998
  • Total cost per kilometre: $0.65

Interested to learn more? AMA offers an Online Fuel-Efficient Driver Course so you can learn more about how fuel efficient driving can help you save money on gas while helping reduce the impact your vehicle has on the environment.

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I am an Online Content Specialist from Edmonton at the AMA. Am happiest when it is gloriously gloomy outside.