Total cost of ownership calc - Fuelly Forums

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Old 01-30-2018, 10:20 PM   #1
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Total cost of ownership calc

So I'm a little bugged by the total cost of ownership calculation under the statistics tab (I'm on Android). It's states an unusually high number that I don't think properly articulates the cost of ownership. Basically, I bought a new car and entered in the purchase price that I paid. However, it seems to be using that number and very simply just dividing it by the number of miles or days since ownership.

Is there not a more elegant way to do this? I want to be able to use this as a means of calculating my true cost per mile on the car based on an expected lifetime. This way I can figure out if public transportation is worth while, or how much to get reimbursed for work driving, etc. After all, a mile not driven now is a mile spent down a longer time of ownership.

Granted I realize this is wishy washy with trying to predict (read: guess) how long or how many miles I'll own the car. However, since I'm doing a payment plan/month could that not be entered and automatically calculated into the final number?

For example, if I'm spending $500/mo on the car for 10 months, I've only actually spent $5000 until which point I've fully paid it off or sold it (and the whole value can be used). That $5000 would then be divided by the miles I've so far driven.

Point being is there not a more clever way to do this? Hell I'd be happy with a simple "expected lifetime mileage" or something ("by golly I'm going to keep this car for at least 200,000miles"!).

Just my 2 cents and curious what you think.
Thanks.
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