This is a tool that calculates the cost of owning a car on an annualised and monthly basis, as well as over the specified cost period. The tool does not include the running (fuel) costs of the car - see the Cost of Running a Car tool for those.

For the car owning cost calculation, it is necessary to supply the following information:

• The car price.
• The annual cost of finance. If the car purchase is financed by a loan then the cost of finance is the simple interest charged on the loan, specified as a yearly rate. If, on the other hand, the car is paid for in cash, the cost of finance is equivalent to the opportunity cost of capital. This is usually expressed in percentage terms (unless the formatting is explicitly set to express it as a decimal).
• The depreciation of the car value, which can either be entered as the depreciation over the entire cost period or as a yearly rate, and is applied using simple interest. Typically the value of the car depreciates/falls but if it actually appreciates/rises over time, enter a negative depreciation rate here. The depreciation is usually expressed in percentage terms (unless the formatting is explicitly set to express it as a decimal).
• The cost period in years or months.
• The road taxes as a yearly (default), quarterly, or monthly amount.
• The cost of servicing and maintenance as a yearly (default), quarterly, or monthly amount.
• The insurance as a yearly (default), quarterly, or monthly amount.
• The cost of garaging and/or parking as a yearly (default), quarterly, or monthly amount. This amount is defaulted to 0 as it is expected that it is not always a factor in the cost calculation.

Associated tool link: http://www.coggit.com/tools/cost_of_owning_a_car.html