Cost per mile calculator gives you an easy way to estimate how much money you spend for each mile you drive your vehicle. It helps users make informed decisions related to car expenditures and plan their budget accordingly.
You don’t need to indulge in manual calculations now, just enter a few inputs and leave the rest to do the tool.
What to Enter?
What will you Get?
“The cost per mile is defined as how much it costs you to travel a certain distance in your vehicle”
Here is the simple cost per mile formula to calculate your cost-per-mile:
$$ \text{CPM} = \frac{\text{CG}}{\text{MPG}} + \frac{\text{CV}}{25000} \cdot 0.03 + 0.05 $$
Where,
We recommend you use the cost per mile calculator for best results. But if you want to calculate it on your own, stick to the following example for manual calculations.
Let's say you have the following values:
You want to calculate the cost per mile to drive, so use the formula:
$$ \text{CPMd} = \frac{\text{CG}}{\text{MPG}} + \frac{\text{CV}}{25000} \cdot 0.03 + 0.05 $$
Now, enter these values into the formula:
$$ \text{CPMd} = \frac{3.50}{25} + \frac{20,000}{25,000} \cdot 0.03 + 0.05 $$
Let's calculate it step by step:
1. Calculate the first part: $$ \frac{3.50}{25} = 0.14 $$
2. Calculate the second part: $$ \frac{20,000}{25,000} \cdot 0.03 = 0.024 $$
3. Add the parts together: $$ 0.14 + 0.024 + 0.05 = 0.214 $$
So, the cost-per-mile to drive (CPM) is approximately $0.214 per mile. This means that for every mile you drive, it costs you approximately 21.4 cents.
There are many ways to reduce your cost per mile. Here are some of the most practical ways:
By following these tips, you can reduce your fuel consumption and save money on your cost per mile.
Cost-per-mile is important because it can help you to:
According to the U.S. Department of Energy, the average cost per mile in the United States is $0.58. This is based on the assumption that you are driving a car that gets 25 miles per gallon and that you are paying $3.50 per gallon of gas.
Wikipedia.org: Car costs, Calculate cost per mile
Keep in touch
Contact Us© Copyright 2025 by calculatored.com