1. What is Car Wear And Tear Cost Per Mile?

Car wear and tear cost per mile represents the average expense of vehicle depreciation and maintenance for each mile driven. This calculation helps vehicle owners understand the true cost of operating their car beyond just fuel expenses.

2. How Does the Calculator Work?

The calculator uses the wear per mile formula:

Where:

• \( \text{Depreciation} \) — The decrease in your vehicle's value over time ($)
• \( \text{Maintenance} \) — Total cost of repairs, oil changes, tires, and other maintenance ($)
• \( \text{Miles} \) — Total miles driven over the period being calculated

Explanation: This formula calculates the average cost of wear and tear for each mile you drive, helping you understand the true cost of vehicle ownership.

3. Importance of Calculating Wear Per Mile

Details: Knowing your wear per mile cost is essential for budgeting vehicle expenses, determining fair reimbursement rates for business use, and making informed decisions about vehicle replacement or maintenance investments.

4. Using the Calculator

Tips: Enter total depreciation cost in dollars, total maintenance cost in dollars, and total miles driven. All values must be positive numbers, with miles greater than zero.

5. Frequently Asked Questions (FAQ)

Q1: What should be included in depreciation?
A: Include the difference between your car's purchase price and its current market value, or use standard depreciation rates if exact values aren't available.

Q2: What maintenance costs should I include?
A: Include all repair costs, oil changes, tire replacements, brake work, and other routine maintenance expenses.

Q3: Over what period should I calculate these costs?
A: Typically calculate over a year or the entire ownership period for the most accurate per-mile cost.

Q4: How does this differ from the IRS mileage rate?
A: The IRS rate includes all vehicle costs (fuel, insurance, etc.), while this calculation focuses specifically on wear and tear components.

Q5: Should I include insurance and fuel costs?
A: No, this calculator specifically focuses on wear and tear costs (depreciation and maintenance). For total cost per mile, you would need to add fuel, insurance, and other expenses.