Used 2016 Honda Accord Cost to Own

Total 5-Year Ownership Costs

Accord Coupe

LX-S 2dr Coupe w/Honda Sensing (2.4L 4cyl CVT)

True Cost to Own

$30,964*

Total Cash Price

$16,971

LX-S 2dr Coupe (2.4L 4cyl CVT)

True Cost to Own

$33,008*

Total Cash Price

$18,091

Touring V-6 2dr Coupe (3.5L 6cyl 6A)

True Cost to Own

$31,840*

Total Cash Price

$17,451

EX 2dr Coupe (2.4L 4cyl CVT)

True Cost to Own

$29,503*

Total Cash Price

$16,170

EX 2dr Coupe w/Honda Sensing (2.4L 4cyl CVT)

True Cost to Own

$33,593*

Total Cash Price

$18,412

EX 2dr Coupe (2.4L 4cyl 6M)

True Cost to Own

$31,840*

Total Cash Price

$17,451

EX-L 2dr Coupe (2.4L 4cyl CVT)

True Cost to Own

$42,356*

Total Cash Price

$23,215

EX-L 2dr Coupe w/Navigation and Honda Sensing (2.4L 4cyl CVT)

True Cost to Own

$29,503*

Total Cash Price

$16,170

EX-L V-6 2dr Coupe (3.5L 6cyl 6A)

True Cost to Own

$30,964*

Total Cash Price

$16,971

EX-L V-6 2dr Coupe w/Navigation and Honda Sensing (3.5L 6cyl 6A)

True Cost to Own

$34,469*

Total Cash Price

$18,892

EX-L V-6 2dr Coupe (3.5L 6cyl 6M)

True Cost to Own

$35,637*

Total Cash Price

$19,532

LX-S 2dr Coupe (2.4L 4cyl 6M)

True Cost to Own

$36,806*

Total Cash Price

$20,173

Accord Sedan

EX-L 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$42,648*

Total Cash Price

$23,375

Touring V-6 4dr Sedan (3.5L 6cyl 6A)

True Cost to Own

$41,480*

Total Cash Price

$22,734

EX-L V-6 4dr Sedan (3.5L 6cyl 6A)

True Cost to Own

$40,603*

Total Cash Price

$22,254

EX 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$38,559*

Total Cash Price

$21,133

LX 4dr Sedan w/Honda Sensing (2.4L 4cyl CVT)

True Cost to Own

$31,548*

Total Cash Price

$17,291

EX-L 4dr Sedan w/Navigation and Honda Sensing (2.4L 4cyl CVT)

True Cost to Own

$39,143*

Total Cash Price

$21,453

LX 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$29,211*

Total Cash Price

$16,010

EX-L V-6 4dr Sedan w/Navigation and Honda Sensing (3.5L 6cyl 6A)

True Cost to Own

$36,222*

Total Cash Price

$19,852

LX 4dr Sedan (2.4L 4cyl 6M)

True Cost to Own

$37,390*

Total Cash Price

$20,493

Sport 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$34,177*

Total Cash Price

$18,732

Sport 4dr Sedan (2.4L 4cyl 6M)

True Cost to Own

$42,356*

Total Cash Price

$23,215

EX 4dr Sedan w/Honda Sensing (2.4L 4cyl CVT)

True Cost to Own

$31,256*

Total Cash Price

$17,131

EX 4dr Sedan (2.4L 4cyl 6M)

True Cost to Own

$33,885*

Total Cash Price

$18,572

Sport 4dr Sedan w/Honda Sensing (2.4L 4cyl CVT)

True Cost to Own

$40,311*

Total Cash Price

$22,094

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe LX-S 2dr Coupe w/Honda Sensing (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$743$765$789$812$836$3,945
Maintenance$1,760$1,048$973$159$2,236$6,176
Repairs$367$424$497$581$681$2,549
Taxes & Fees$933$43$43$43$43$1,107
Financing$913$734$544$340$123$2,653
Depreciation$3,467$1,615$1,420$1,260$1,131$8,894
Fuel$1,062$1,094$1,127$1,161$1,196$5,639
True Cost to Own®$9,244$5,724$5,393$4,357$6,246$30,964

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe LX-S 2dr Coupe (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$792$816$841$866$892$4,206
Maintenance$1,876$1,118$1,037$169$2,383$6,583
Repairs$391$452$530$619$725$2,718
Taxes & Fees$994$46$46$46$46$1,180
Financing$973$782$580$363$131$2,828
Depreciation$3,696$1,722$1,514$1,344$1,206$9,482
Fuel$1,132$1,166$1,201$1,237$1,275$6,012
True Cost to Own®$9,855$6,102$5,749$4,644$6,658$33,008

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe Touring V-6 2dr Coupe (3.5L 6cyl 6A)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$764$787$811$835$860$4,057
Maintenance$1,809$1,078$1,001$164$2,299$6,350
Repairs$377$436$511$597$700$2,621
Taxes & Fees$959$45$45$45$45$1,138
Financing$938$754$559$350$126$2,728
Depreciation$3,565$1,661$1,461$1,296$1,163$9,146
Fuel$1,092$1,125$1,159$1,194$1,230$5,799
True Cost to Own®$9,506$5,886$5,546$4,480$6,422$31,840

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe EX 2dr Coupe (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$708$729$751$774$797$3,759
Maintenance$1,677$999$927$152$2,130$5,884
Repairs$349$404$474$553$648$2,429
Taxes & Fees$889$41$41$41$41$1,054
Financing$870$699$518$324$117$2,528
Depreciation$3,304$1,539$1,353$1,201$1,078$8,475
Fuel$1,012$1,042$1,074$1,106$1,139$5,373
True Cost to Own®$8,808$5,454$5,139$4,151$5,951$29,503

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe EX 2dr Coupe w/Honda Sensing (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$806$830$856$881$907$4,280
Maintenance$1,909$1,137$1,056$173$2,425$6,700
Repairs$398$460$539$630$738$2,766
Taxes & Fees$1,012$47$47$47$47$1,201
Financing$990$796$590$369$133$2,878
Depreciation$3,762$1,753$1,541$1,367$1,227$9,650
Fuel$1,152$1,187$1,222$1,259$1,297$6,118
True Cost to Own®$10,029$6,210$5,851$4,727$6,776$33,593

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe EX 2dr Coupe (2.4L 4cyl 6M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$764$787$811$835$860$4,057
Maintenance$1,809$1,078$1,001$164$2,299$6,350
Repairs$377$436$511$597$700$2,621
Taxes & Fees$959$45$45$45$45$1,138
Financing$938$754$559$350$126$2,728
Depreciation$3,565$1,661$1,461$1,296$1,163$9,146
Fuel$1,092$1,125$1,159$1,194$1,230$5,799
True Cost to Own®$9,506$5,886$5,546$4,480$6,422$31,840

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe EX-L 2dr Coupe (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,016$1,047$1,079$1,111$1,144$5,397
Maintenance$2,407$1,434$1,331$218$3,058$8,448
Repairs$502$580$680$795$931$3,487
Taxes & Fees$1,276$59$59$59$59$1,514
Financing$1,248$1,003$744$465$168$3,629
Depreciation$4,743$2,210$1,943$1,724$1,547$12,167
Fuel$1,453$1,496$1,541$1,588$1,636$7,714
True Cost to Own®$12,645$7,830$7,378$5,960$8,543$42,356

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe EX-L 2dr Coupe w/Navigation and Honda Sensing (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$708$729$751$774$797$3,759
Maintenance$1,677$999$927$152$2,130$5,884
Repairs$349$404$474$553$648$2,429
Taxes & Fees$889$41$41$41$41$1,054
Financing$870$699$518$324$117$2,528
Depreciation$3,304$1,539$1,353$1,201$1,078$8,475
Fuel$1,012$1,042$1,074$1,106$1,139$5,373
True Cost to Own®$8,808$5,454$5,139$4,151$5,951$29,503

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe EX-L V-6 2dr Coupe (3.5L 6cyl 6A)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$743$765$789$812$836$3,945
Maintenance$1,760$1,048$973$159$2,236$6,176
Repairs$367$424$497$581$681$2,549
Taxes & Fees$933$43$43$43$43$1,107
Financing$913$734$544$340$123$2,653
Depreciation$3,467$1,615$1,420$1,260$1,131$8,894
Fuel$1,062$1,094$1,127$1,161$1,196$5,639
True Cost to Own®$9,244$5,724$5,393$4,357$6,246$30,964

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe EX-L V-6 2dr Coupe w/Navigation and Honda Sensing (3.5L 6cyl 6A)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$827$852$878$904$931$4,392
Maintenance$1,959$1,167$1,083$177$2,489$6,875
Repairs$408$472$553$647$758$2,838
Taxes & Fees$1,038$48$48$48$48$1,232
Financing$1,016$817$605$379$137$2,954
Depreciation$3,860$1,798$1,581$1,403$1,259$9,901
Fuel$1,182$1,218$1,254$1,292$1,331$6,278
True Cost to Own®$10,291$6,372$6,004$4,850$6,953$34,469

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe EX-L V-6 2dr Coupe (3.5L 6cyl 6M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$855$881$908$935$963$4,541
Maintenance$2,025$1,207$1,120$183$2,573$7,108
Repairs$422$488$572$669$783$2,934
Taxes & Fees$1,074$50$50$50$50$1,274
Financing$1,050$844$626$392$142$3,054
Depreciation$3,991$1,859$1,635$1,451$1,302$10,237
Fuel$1,222$1,259$1,297$1,336$1,376$6,490
True Cost to Own®$10,640$6,588$6,207$5,014$7,188$35,637

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Coupe LX-S 2dr Coupe (2.4L 4cyl 6M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$883$910$937$965$994$4,690
Maintenance$2,092$1,246$1,157$189$2,657$7,341
Repairs$436$504$591$690$809$3,030
Taxes & Fees$1,109$52$52$52$52$1,315
Financing$1,085$872$646$404$146$3,154
Depreciation$4,121$1,920$1,688$1,498$1,344$10,573
Fuel$1,263$1,300$1,339$1,380$1,421$6,703
True Cost to Own®$10,988$6,804$6,411$5,179$7,424$36,806

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan EX-L 4dr Sedan (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,023$1,054$1,086$1,118$1,152$5,434
Maintenance$2,424$1,444$1,340$219$3,079$8,506
Repairs$505$584$685$800$937$3,511
Taxes & Fees$1,285$60$60$60$60$1,524
Financing$1,257$1,010$749$469$169$3,654
Depreciation$4,776$2,225$1,956$1,736$1,558$12,251
Fuel$1,463$1,507$1,552$1,599$1,647$7,767
True Cost to Own®$12,733$7,884$7,428$6,001$8,602$42,648

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan Touring V-6 4dr Sedan (3.5L 6cyl 6A)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$995$1,025$1,056$1,088$1,120$5,285
Maintenance$2,357$1,404$1,304$213$2,995$8,273
Repairs$491$568$666$778$912$3,415
Taxes & Fees$1,250$58$58$58$58$1,482
Financing$1,223$983$728$456$165$3,554
Depreciation$4,645$2,164$1,903$1,688$1,515$11,915
Fuel$1,423$1,465$1,509$1,555$1,602$7,554
True Cost to Own®$12,384$7,668$7,225$5,836$8,367$41,480

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan EX-L V-6 4dr Sedan (3.5L 6cyl 6A)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$974$1,004$1,034$1,065$1,097$5,174
Maintenance$2,307$1,375$1,276$208$2,932$8,098
Repairs$481$556$652$762$892$3,343
Taxes & Fees$1,223$57$57$57$57$1,451
Financing$1,197$962$713$446$161$3,479
Depreciation$4,547$2,118$1,863$1,653$1,483$11,663
Fuel$1,393$1,434$1,478$1,522$1,568$7,395
True Cost to Own®$12,122$7,506$7,072$5,713$8,190$40,603

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan EX 4dr Sedan (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$925$953$982$1,011$1,041$4,913
Maintenance$2,191$1,305$1,212$198$2,784$7,690
Repairs$457$528$619$723$847$3,175
Taxes & Fees$1,162$54$54$54$54$1,378
Financing$1,137$913$677$424$153$3,304
Depreciation$4,318$2,012$1,769$1,569$1,408$11,076
Fuel$1,323$1,362$1,403$1,445$1,489$7,022
True Cost to Own®$11,512$7,128$6,716$5,425$7,777$38,559

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan LX 4dr Sedan w/Honda Sensing (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$757$780$804$827$852$4,020
Maintenance$1,793$1,068$991$162$2,278$6,292
Repairs$374$432$507$592$693$2,597
Taxes & Fees$950$44$44$44$44$1,128
Financing$930$747$554$347$125$2,703
Depreciation$3,533$1,646$1,447$1,284$1,152$9,062
Fuel$1,082$1,115$1,148$1,183$1,218$5,746
True Cost to Own®$9,419$5,832$5,495$4,439$6,363$31,548

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan EX-L 4dr Sedan w/Navigation and Honda Sensing (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$939$967$997$1,026$1,057$4,987
Maintenance$2,224$1,325$1,230$201$2,826$7,807
Repairs$464$536$628$734$860$3,223
Taxes & Fees$1,179$55$55$55$55$1,399
Financing$1,154$927$687$430$155$3,354
Depreciation$4,383$2,042$1,796$1,593$1,430$11,244
Fuel$1,343$1,383$1,424$1,467$1,512$7,129
True Cost to Own®$11,686$7,236$6,818$5,507$7,895$39,143
Ownership Costs: 5-Year Total

Depreciation

$8,391

Taxes & Fees

$1,044

Financing

$2,503

Fuel

$5,320

Insurance

$3,722

Repairs

$2,405

Maintenance

$5,826

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan LX 4dr Sedan (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$701$722$744$766$789$3,722
Maintenance$1,660$989$918$150$2,109$5,826
Repairs$346$400$469$548$642$2,405
Taxes & Fees$880$41$41$41$41$1,044
Financing$861$692$513$321$116$2,503
Depreciation$3,271$1,524$1,340$1,189$1,067$8,391
Fuel$1,002$1,032$1,063$1,095$1,128$5,320
True Cost to Own®$8,721$5,400$5,088$4,110$5,892$29,211

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan EX-L V-6 4dr Sedan w/Navigation and Honda Sensing (3.5L 6cyl 6A)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$869$895$923$950$978$4,615
Maintenance$2,058$1,226$1,138$186$2,615$7,224
Repairs$429$496$582$680$796$2,982
Taxes & Fees$1,091$51$51$51$51$1,295
Financing$1,068$858$636$398$144$3,104
Depreciation$4,056$1,890$1,662$1,474$1,323$10,405
Fuel$1,242$1,280$1,318$1,358$1,399$6,597
True Cost to Own®$10,814$6,696$6,309$5,096$7,306$36,222

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan LX 4dr Sedan (2.4L 4cyl 6M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$897$924$952$980$1,010$4,764
Maintenance$2,125$1,266$1,175$192$2,700$7,457
Repairs$443$512$600$701$822$3,078
Taxes & Fees$1,126$52$52$52$52$1,336
Financing$1,102$886$657$411$148$3,204
Depreciation$4,187$1,951$1,715$1,522$1,366$10,740
Fuel$1,283$1,321$1,361$1,402$1,444$6,810
True Cost to Own®$11,163$6,912$6,513$5,261$7,542$37,390

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan Sport 4dr Sedan (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$820$845$870$896$923$4,355
Maintenance$1,942$1,157$1,074$176$2,468$6,816
Repairs$405$468$549$641$751$2,814
Taxes & Fees$1,030$48$48$48$48$1,221
Financing$1,007$810$600$376$136$2,929
Depreciation$3,827$1,783$1,568$1,391$1,248$9,817
Fuel$1,172$1,207$1,244$1,281$1,320$6,224
True Cost to Own®$10,204$6,318$5,953$4,809$6,894$34,177

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan Sport 4dr Sedan (2.4L 4cyl 6M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,016$1,047$1,079$1,111$1,144$5,397
Maintenance$2,407$1,434$1,331$218$3,058$8,448
Repairs$502$580$680$795$931$3,487
Taxes & Fees$1,276$59$59$59$59$1,514
Financing$1,248$1,003$744$465$168$3,629
Depreciation$4,743$2,210$1,943$1,724$1,547$12,167
Fuel$1,453$1,496$1,541$1,588$1,636$7,714
True Cost to Own®$12,645$7,830$7,378$5,960$8,543$42,356

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan EX 4dr Sedan w/Honda Sensing (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$750$773$796$820$844$3,983
Maintenance$1,776$1,058$982$161$2,257$6,234
Repairs$370$428$502$586$687$2,573
Taxes & Fees$942$44$44$44$44$1,117
Financing$921$740$549$343$124$2,678
Depreciation$3,500$1,631$1,434$1,272$1,142$8,978
Fuel$1,072$1,104$1,137$1,172$1,207$5,692
True Cost to Own®$9,331$5,778$5,444$4,398$6,304$31,256

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan EX 4dr Sedan (2.4L 4cyl 6M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$813$838$863$889$915$4,318
Maintenance$1,926$1,147$1,065$174$2,446$6,758
Repairs$401$464$544$636$745$2,790
Taxes & Fees$1,021$48$48$48$48$1,211
Financing$999$803$595$372$135$2,903
Depreciation$3,794$1,768$1,554$1,379$1,238$9,734
Fuel$1,162$1,197$1,233$1,270$1,308$6,171
True Cost to Own®$10,116$6,264$5,902$4,768$6,835$33,885

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Accord Sedan Sport 4dr Sedan w/Honda Sensing (2.4L 4cyl CVT)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$967$996$1,027$1,057$1,089$5,136
Maintenance$2,291$1,365$1,267$207$2,910$8,040
Repairs$477$552$647$756$886$3,319
Taxes & Fees$1,214$57$57$57$57$1,441
Financing$1,188$955$708$443$160$3,454
Depreciation$4,514$2,103$1,849$1,641$1,472$11,580
Fuel$1,383$1,424$1,467$1,511$1,557$7,342
True Cost to Own®$12,035$7,452$7,021$5,672$8,131$40,311

*Based on a 5-year estimate with 15,000 miles driven per year.

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True Cost To Own®

Edmunds.com's True Cost to Own® (TCO®) is proprietary data that helps you estimate the total five-year cost of buying and owning a vehicle — including some items you may not have taken into consideration. A benefit of using our TCO® tool is that you can easily compare the five-year totals for different vehicles and make a more informed choice.

The components of TCO® are depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, repairs and any federal tax credit that may be available. In order to estimate certain mileage-dependent costs, we assume that vehicles will be driven 15,000 miles per year. For a used vehicle, we calculate the years the vehicle has been driven using the nominal difference between the current calendar year and the vehicle's model year, and assume that it was driven 15,000 miles during each of those years.

Note that TCO® is a comparative tool, not a predictive tool — your actual five-year cost of owning a particular vehicle will vary depending on your personal circumstances, such as your driving history and the number of miles you drive.

How We Calculate True Cost to Own®

The True Cost to Own® calculations use the following set of assumptions:

  • Ownership expenses are estimated for a five-year period
  • You will drive 15,000 miles per year
  • You are financing the vehicle using traditional financing, not lease financing
  • You have an above-average credit rating for the purpose of determining your finance rate
  • You are making a 10% down payment on the vehicle at purchase
  • Your loan term is 60 months

Using proprietary formulas, we calculate the five-year costs for the seven cost categories that make up the TCO® (depreciation, insurance, financing, taxes & fees, fuel, maintenance and repairs). We also take into account any applicable federal tax credit.

Explanation of True Cost to Own® Terms

Total Cash Price

For new vehicles, the Total Cash Price displayed is the vehicle's True Market Value® (TMV®) price plus typically equipped options, destination charge, base tax and fees assessed by your state, and, if applicable, gas guzzler tax; less any widely available manufacturer-to-customer cash rebates. (However, we do not account for other types of cash rebates or incentives because of the variability of those offers and their eligibility requirements.) For used vehicles, the Total Cash Price shown is the sum of the vehicle's Private Party TMV® price in "clean" condition plus typically equipped options, and base tax and fees assessed by your state.

Depreciation

This is the amount by which the value of a vehicle declines from its purchase price to its estimated resale value. The purchase price employed is the vehicle's Total Cash Price, minus any taxes and fees included in that amount. We estimate the resale value assuming the vehicle will be in "clean" condition, will be driven 15,000 miles per year, and will be sold to a private party.

Insurance

This is the estimated average annual insurance premium in your state. The premium has been determined based on annual premium data for defined driver profiles and coverages (liability, comprehensive and collision) from a major national insurer. While this information is specific to vehicle make, model, model year and body type, your personal information is not taken into consideration and could greatly alter the actual premium quoted by an insurer. Factors that will affect your rate include your age, marital status, credit history, driving record, and the garaging address of your vehicle.

Financing

This is the interest expense on a loan in the amount of the Total Cash Price, assuming a 10% down payment and a loan term of 60 months. The interest rate used is the prevailing rate that banks and other direct automotive lenders are currently charging consumers in your geographic region who have above average credit scores.

Note: Even if you do not finance your vehicle, the inclusion of financing cost in determining True Cost to Own® is still appropriate because it reflects the estimated "opportunity cost" (i.e., the amount you may earn) if you invest the Purchase Price instead of using it to purchase the vehicle.

Taxes & Fees

This consists of the base sales (or use) taxes, license and registration fees in your state, and gas guzzler tax if applicable. These taxes and fees are often based on a percentage of the purchase price, and generally decrease as the vehicle ages and loses its value.

Note: the state sales/use tax rate that we use includes the average local and county taxes assessed in that state.

Fuel

This expense is based on the revised EPA mileage ratings, assuming consumption consists of 45% highway and 55% city driving and that the vehicle is equipped with the transmission that is standard equipment for that vehicle. Cost estimates are based on the current one-year moving average of self-service prices in your state, using regular unleaded gasoline for vehicles whose manufacturers require regular; premium unleaded gasoline for vehicles whose manufacturers recommend or require premium; or diesel fuel for diesel vehicles.

Maintenance

This is the estimated expense of the two types of maintenance: scheduled and unscheduled. Scheduled maintenance is the performance of factory-recommended items at periodic mileage and/or calendar intervals. Unscheduled maintenance includes wheel alignment and the replacement of items such as the battery, brakes, headlamps, hoses, exhaust system parts, taillight/turn signal bulbs, tires and wiper blades/inserts. Estimated tire replacement costs are supplied to Edmunds.com by The Tire Rack, Inc.

Repairs

This is the estimated expense for repairs not covered by the vehicle manufacturer's warranties over the five years from the date of purchase, assuming 15,000 miles are driven annually. We estimate this expense based on the cost of a typical "zero deductible" extended warranty for the vehicle, minus the estimated amount of that cost that consists of the warranty provider's overhead and profit.

Federal Tax Credits

This is the tax credit that is provided for under the Energy Policy Act of 2005. A tax credit is subtracted directly from the total amount of federal tax you owe. The tax credit is for electric fuel vehicles.

The credit is only available to the original purchaser of a new, qualifying vehicle, and is subject to certain "phase out" rules that we take into consideration when computing TCO®. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.



Edmunds Insurance Estimator

The Edmunds TCO® estimated monthly insurance payment for a 2016 Honda Accord in Virginia is:

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