The true cost of your next car
Finance is just the start. Add fuel or electricity, insurance, tax and servicing to see your real monthly cost — and how many pence every mile actually costs.
Illustrative only — not a personalised quote. Your actual rate depends on lender, credit profile and vehicle. WeCarFinance is FCA regulated.
Frequently asked
What does 'total cost of ownership' actually include?
Finance payments, fuel or electricity, insurance, road tax (VED), servicing, tyres and MOT. We don't include depreciation as a cash line because on PCP the balloon captures it, and on HP you keep the car — but expect a used car to lose 10–20% per year in the early years.
Are EVs really cheaper to run?
In fuel and tax, generally yes — home charging at ~7–15p per kWh works out to 2–4p per mile versus 12–18p for a petrol equivalent. Insurance and finance can be higher, and from April 2025 EVs pay standard VED. The tool lets you flip between EV and petrol/diesel to see your numbers.
Where do MPG and mi/kWh figures come from?
Use your car's WLTP combined figure, or your own average from the trip computer. For an EV, mi/kWh (efficiency) is the equivalent of MPG. 3.5–4.5 mi/kWh is typical for a mid-size EV; 40–55 mpg is typical for a modern petrol.
Why is pence-per-mile useful?
It's the great equaliser — it lets you compare a cheap car with high running costs against an expensive car that's cheap to run. Under 30p/mile is efficient; over 60p/mile is expensive and usually means either a big car or big finance.