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1. Set the ownership period and mileage
Choose a timeframe that matches your plan—for example, the number of years you expect to keep the SUV—and estimate your annual miles. Use the same timeframe and mileage for every SUV you compare. These assumptions affect resale value, fuel use, maintenance, and the timing of repairs.
Edmunds’ used-vehicle True Cost to Own methodology assumes 15,000 miles per year from the model year through the current calendar year. That is a calculator assumption, not a measured average for all used-SUV owners. Edmunds also cautions that its TCO is a comparative tool, not a prediction of an individual owner’s costs. Edmunds’ TCO methodology
2. Estimate depreciation from your price and likely resale
Use a realistic purchase price
Use the price you expect to pay for the specific SUV, not an advertised price that excludes negotiated changes or a broad model-level average. Record whether your calculation includes sales tax, title, registration, or dealer charges. Keeping these costs separate makes the depreciation figure easier to compare.
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Find comparable resale values
Estimate what the SUV could sell for at the end of your ownership period. Look for current local comparables with similar model year, trim, mileage, condition, and accident or title history. Consider the channel you are likely to use—private-party sale, trade-in, or another route—because the proceeds can differ.
Edmunds’ documented resale calculation uses a vehicle in “clean” condition, 15,000 miles per year, and a private-party sale. Those are model assumptions, not guarantees for your SUV. Its used-vehicle TCO purchase basis is the total cash price excluding taxes and fees. Edmunds’ TCO methodology and Edmunds’ TCO category details
For a second reference point, Kelley Blue Book says its values are partly based on transactions in the reader’s area. Treat any valuation as an estimate, then check it against comparable vehicles and the SUV’s actual condition. Kelley Blue Book’s explanation of total cost of ownership
Calculate depreciation
Estimated depreciation = purchase price − expected resale value
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For a clean comparison, state whether taxes and fees are outside this calculation. Edmunds’ documented method excludes taxes and fees from its purchase-price basis before subtracting estimated resale value. Do not add the full purchase price again if you are already counting depreciation as purchase price minus resale proceeds.
3. Add the costs of owning the SUV
Estimate each item for the same ownership period. Use a quote, bill, schedule, or local assumption where possible, and label any estimate that is uncertain.
| Cost | How to estimate it |
|---|---|
| Financing | Add the interest and applicable loan fees over your planned loan term. Record down payment, amount borrowed, APR, and term. Compare offers from lenders; APR and loan length change what you pay. Do not count loan principal as an extra economic cost on top of depreciation. |
| Taxes and registration | Use the sales or use tax, title, registration, and transaction fees that apply to your jurisdiction and purchase. The Consumer Financial Protection Bureau (CFPB) identifies taxes, titles, non-negotiable fees, document or preparation charges, and other fees as possible upfront costs. |
| Insurance | Get a quote for the actual driver, address, vehicle, coverage, and deductible. Broad averages may not reflect personal details that can substantially affect the premium. |
| Fuel | Estimate annual miles divided by the SUV’s expected real-world fuel economy, then multiply by a local fuel-price assumption. Use the actual engine and drivetrain; replace generic figures if your use differs. Edmunds describes its own EPA-rating and fuel-price assumptions, which may not match your driving or local prices. |
| Scheduled maintenance | Check the model-specific maintenance schedule and the SUV’s service records. Include routine items due during your ownership period, such as fluids and filters where applicable. |
| Repairs and wear items | Account for condition and history, remaining warranty, tires, brakes, and likely age- or mileage-related needs. Edmunds separates scheduled and unscheduled maintenance from repairs outside the manufacturer warranty. A pre-purchase inspection can identify immediate concerns, but cannot guarantee future repair costs. |
The CFPB’s consumer guidance summarizes the broader approach: “To find the true cost of a car or vehicle, add together the up-front cost of the car and features plus monthly expenses, such as interest, insurance, and routine maintenance.” CFPB guidance on vehicle affordability
4. Calculate total cost and separate it from cash flow
For an estimate of economic cost over your chosen period, use:
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1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsEstimated TCO = (purchase price − expected resale value) + financing cost + taxes and registration + insurance + fuel + maintenance + repairs
Divide the total by the number of months or years to get an average monthly or annual figure. It is an average, not a schedule: repair bills, tires, and resale proceeds arrive irregularly.
If you also need to know how much cash you must have available, make a separate cash-flow view. Show the down payment and loan-principal payments alongside interest and running costs. Principal payments build vehicle equity rather than representing an additional ownership cost in the depreciation-based calculation; counting both the full purchase price and depreciation would count the vehicle’s value twice.
A cash buyer comparing the SUV with another use for the money may include an opportunity-cost assumption, but should label it separately. The result depends on the alternative return assumed; it is not a vehicle bill.
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5. Compare SUVs on equal assumptions
For two or more candidates, use the same years of ownership, annual mileage, location, and financing assumptions. Compare the underlying categories as well as the total so a low estimate is not hiding a high-risk assumption.
- Depreciation and expected net resale proceeds
- Financing and insurance
- Fuel use and local fuel prices
- Scheduled maintenance, likely repairs, and vehicle condition or history
- Taxes, registration, and transaction fees
- Uncertainty in estimates, especially resale and repair needs
Edmunds’ figures can help compare vehicles, but its stated assumptions—including mileage and resale condition—may differ from yours. Its used-vehicle results should not be read as a guaranteed bill or resale price. Edmunds’ TCO methodology
6. Keep the estimate current
Before relying on the result, refresh local resale comparables, insurance and fuel assumptions, applicable fees, and loan terms for your purchase date. Recheck the SUV’s service history and condition; the same model can have different ownership prospects depending on how it was maintained and driven. Report the assumptions next to your total so another reader can see what the estimate does—and does not—cover.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
