Used 2016 Honda Accord Cost to Own

Total 5-Year Ownership Costs

Accord Sedan

Sport 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$33,629*

Total Cash Price

$20,432

LX 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$31,791*

Total Cash Price

$18,728

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

True Cost to Own

$34,677*

Total Cash Price

$22,548

EX 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$33,681*

Total Cash Price

$21,193

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

True Cost to Own

$39,974*

Total Cash Price

$26,195

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

True Cost to Own

$37,832*

Total Cash Price

$23,487

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

True Cost to Own

$35,478*

Total Cash Price

$23,602

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

True Cost to Own

$34,075*

Total Cash Price

$21,006

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

True Cost to Own

$33,980*

Total Cash Price

$21,650

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

True Cost to Own

$38,338*

Total Cash Price

$24,134

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

True Cost to Own

$32,423*

Total Cash Price

$19,638

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

True Cost to Own

$33,839*

Total Cash Price

$18,539

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

True Cost to Own

$35,199*

Total Cash Price

$19,919

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

True Cost to Own

$35,389*

Total Cash Price

$20,535

Accord Coupe

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

True Cost to Own

$34,855*

Total Cash Price

$21,927

EX 2dr Coupe (2.4L 4cyl CVT)

True Cost to Own

$34,294*

Total Cash Price

$21,187

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

True Cost to Own

$38,296*

Total Cash Price

$22,973

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

True Cost to Own

$40,537*

Total Cash Price

$25,738

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

True Cost to Own

$32,933*

Total Cash Price

$19,300

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

True Cost to Own

$36,019*

Total Cash Price

$20,966

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

True Cost to Own

$36,098*

Total Cash Price

$23,641

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

True Cost to Own

$34,952*

Total Cash Price

$22,066

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

True Cost to Own

$38,625*

Total Cash Price

$23,149

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

True Cost to Own

$33,997*

Total Cash Price

$20,802

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

True Cost to Own

$39,770*

Total Cash Price

$21,613

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

True Cost to Own

$34,133*

Total Cash Price

$18,171

Ownership Costs: 5-Year Total

Depreciation

$11,319

Taxes & Fees

$1,027

Financing

$1,432

Fuel

$7,539

Insurance

$3,784

Repairs

$2,746

Maintenance

$5,782

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$713$734$756$779$802$3,784
Maintenance$963$865$137$2,238$1,579$5,782
Repairs$394$458$535$627$732$2,746
Taxes & Fees$863$41$41$41$41$1,027
Financing$503$397$290$178$64$1,432
Depreciation$4,542$2,017$1,775$1,573$1,412$11,319
Fuel$1,420$1,463$1,506$1,552$1,598$7,539
True Cost to Own®$9,398$5,975$5,040$6,988$6,228$33,629

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$963$865$137$1,838$1,579$5,382
Repairs$394$458$535$627$732$2,746
Taxes & Fees$795$41$41$41$41$959
Financing$461$364$266$163$58$1,312
Depreciation$4,162$1,848$1,626$1,442$1,294$10,372
Fuel$1,375$1,416$1,458$1,502$1,547$7,298
True Cost to Own®$8,851$5,714$4,807$6,379$6,040$31,791

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$741$763$786$810$834$3,934
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$947$41$41$41$41$1,111
Financing$555$439$319$197$70$1,580
Depreciation$5,014$2,226$1,959$1,736$1,558$12,493
Fuel$1,375$1,416$1,458$1,502$1,547$7,298
True Cost to Own®$9,989$6,208$5,235$6,884$6,361$34,677

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$723$745$767$790$814$3,839
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$893$41$41$41$41$1,057
Financing$521$413$300$185$66$1,485
Depreciation$4,712$2,092$1,841$1,632$1,464$11,741
Fuel$1,375$1,416$1,458$1,502$1,547$7,298
True Cost to Own®$9,581$6,030$5,079$6,748$6,243$33,681

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$761$784$807$832$857$4,041
Maintenance$1,052$995$211$2,801$1,818$6,877
Repairs$394$458$535$627$732$2,746
Taxes & Fees$1,093$41$41$41$41$1,257
Financing$644$510$372$228$81$1,835
Depreciation$5,826$2,587$2,276$2,018$1,811$14,518
Fuel$1,639$1,688$1,738$1,791$1,844$8,700
True Cost to Own®$11,409$7,063$5,980$8,338$7,184$39,974

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$747$769$792$816$841$3,965
Maintenance$1,052$995$211$2,535$1,818$6,611
Repairs$394$458$535$627$732$2,746
Taxes & Fees$985$41$41$41$41$1,149
Financing$578$457$333$205$73$1,646
Depreciation$5,223$2,319$2,041$1,809$1,623$13,015
Fuel$1,639$1,688$1,738$1,791$1,844$8,700
True Cost to Own®$10,618$6,727$5,691$7,824$6,972$37,832

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$760$783$806$830$855$4,034
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$989$41$41$41$41$1,153
Financing$581$459$335$205$74$1,654
Depreciation$5,248$2,330$2,051$1,818$1,631$13,078
Fuel$1,375$1,416$1,458$1,502$1,547$7,298
True Cost to Own®$10,310$6,352$5,363$6,994$6,459$35,478

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$725$747$769$792$816$3,849
Maintenance$963$865$137$2,238$1,579$5,782
Repairs$394$458$535$627$732$2,746
Taxes & Fees$886$41$41$41$41$1,050
Financing$517$409$297$184$65$1,472
Depreciation$4,670$2,073$1,825$1,617$1,452$11,637
Fuel$1,420$1,463$1,506$1,552$1,598$7,539
True Cost to Own®$9,575$6,056$5,110$7,051$6,283$34,075

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$722$744$766$789$813$3,834
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$912$41$41$41$41$1,076
Financing$533$421$307$189$67$1,517
Depreciation$4,813$2,137$1,881$1,667$1,496$11,994
Fuel$1,375$1,416$1,458$1,502$1,547$7,298
True Cost to Own®$9,712$6,082$5,125$6,786$6,275$33,980

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$761$784$807$832$857$4,041
Maintenance$1,052$995$211$2,535$1,818$6,611
Repairs$394$458$535$627$732$2,746
Taxes & Fees$1,011$41$41$41$41$1,175
Financing$594$469$343$210$75$1,691
Depreciation$5,367$2,383$2,097$1,859$1,668$13,374
Fuel$1,639$1,688$1,738$1,791$1,844$8,700
True Cost to Own®$10,818$6,818$5,772$7,895$7,035$38,338

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$706$727$749$771$795$3,748
Maintenance$963$865$137$1,838$1,579$5,382
Repairs$394$458$535$627$732$2,746
Taxes & Fees$831$41$41$41$41$995
Financing$483$382$279$171$61$1,376
Depreciation$4,365$1,938$1,706$1,512$1,357$10,878
Fuel$1,375$1,416$1,458$1,502$1,547$7,298
True Cost to Own®$9,117$5,827$4,905$6,462$6,112$32,423

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$699$720$742$764$787$3,712
Maintenance$963$1,939$137$1,863$1,579$6,481
Repairs$394$458$535$627$732$2,746
Taxes & Fees$788$41$41$41$41$952
Financing$456$361$263$161$58$1,299
Depreciation$4,120$1,829$1,610$1,427$1,281$10,267
Fuel$1,579$1,626$1,675$1,725$1,777$8,382
True Cost to Own®$8,999$6,974$5,003$6,608$6,255$33,839

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$707$728$750$773$796$3,754
Maintenance$963$1,939$137$2,263$1,579$6,881
Repairs$394$458$535$627$732$2,746
Taxes & Fees$843$41$41$41$41$1,007
Financing$490$388$282$174$62$1,396
Depreciation$4,428$1,966$1,730$1,533$1,376$11,033
Fuel$1,579$1,626$1,675$1,725$1,777$8,382
True Cost to Own®$9,404$7,146$5,150$7,136$6,363$35,199

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$716$737$760$782$806$3,801
Maintenance$963$1,939$137$1,996$1,579$6,614
Repairs$394$458$535$627$732$2,746
Taxes & Fees$867$41$41$41$41$1,031
Financing$505$400$291$179$64$1,439
Depreciation$4,565$2,027$1,784$1,581$1,419$11,376
Fuel$1,579$1,626$1,675$1,725$1,777$8,382
True Cost to Own®$9,589$7,228$5,223$6,931$6,418$35,389

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$807$831$856$882$908$4,284
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$923$41$41$41$41$1,087
Financing$539$427$311$191$68$1,536
Depreciation$4,875$2,165$1,905$1,688$1,515$12,148
Fuel$1,420$1,463$1,506$1,552$1,598$7,539
True Cost to Own®$9,921$6,250$5,291$6,952$6,441$34,855

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$794$818$842$868$894$4,216
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$893$41$41$41$41$1,057
Financing$521$413$300$185$66$1,485
Depreciation$4,710$2,091$1,840$1,631$1,464$11,736
Fuel$1,420$1,463$1,506$1,552$1,598$7,539
True Cost to Own®$9,695$6,149$5,201$6,875$6,374$34,294

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$832$857$883$909$936$4,417
Maintenance$1,052$995$211$2,543$1,818$6,619
Repairs$394$458$535$627$732$2,746
Taxes & Fees$964$41$41$41$41$1,128
Financing$565$447$326$200$72$1,610
Depreciation$5,108$2,268$1,996$1,769$1,588$12,729
Fuel$1,704$1,755$1,808$1,862$1,918$9,047
True Cost to Own®$10,619$6,821$5,800$7,951$7,105$38,296

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$859$885$911$939$967$4,561
Maintenance$1,052$995$211$2,801$1,818$6,877
Repairs$394$458$535$627$732$2,746
Taxes & Fees$1,075$41$41$41$41$1,239
Financing$633$501$365$225$79$1,803
Depreciation$5,724$2,542$2,237$1,982$1,779$14,264
Fuel$1,704$1,755$1,808$1,862$1,918$9,047
True Cost to Own®$11,441$7,177$6,108$8,477$7,334$40,537

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$774$797$821$846$871$4,109
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$818$41$41$41$41$982
Financing$475$375$274$168$60$1,352
Depreciation$4,290$1,905$1,676$1,486$1,333$10,690
Fuel$1,420$1,463$1,506$1,552$1,598$7,539
True Cost to Own®$9,134$5,904$4,990$6,691$6,214$32,933

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$781$804$829$853$879$4,146
Maintenance$963$1,939$137$1,996$1,579$6,614
Repairs$394$458$535$627$732$2,746
Taxes & Fees$884$41$41$41$41$1,048
Financing$516$408$297$183$65$1,469
Depreciation$4,661$2,069$1,821$1,614$1,449$11,614
Fuel$1,579$1,626$1,675$1,725$1,777$8,382
True Cost to Own®$9,778$7,345$5,335$7,039$6,522$36,019

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$826$851$876$903$930$4,386
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$991$41$41$41$41$1,155
Financing$582$460$335$206$74$1,657
Depreciation$5,257$2,334$2,054$1,821$1,634$13,100
Fuel$1,420$1,463$1,506$1,552$1,598$7,539
True Cost to Own®$10,433$6,472$5,484$7,121$6,588$36,098

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$808$832$857$883$909$4,289
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$928$41$41$41$41$1,092
Financing$543$429$313$193$68$1,546
Depreciation$4,906$2,178$1,917$1,699$1,525$12,225
Fuel$1,420$1,463$1,506$1,552$1,598$7,539
True Cost to Own®$9,962$6,266$5,306$6,966$6,452$34,952

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$872$898$925$953$981$4,629
Maintenance$1,052$995$211$2,543$1,818$6,619
Repairs$394$458$535$627$732$2,746
Taxes & Fees$971$41$41$41$41$1,135
Financing$569$451$328$202$72$1,622
Depreciation$5,148$2,285$2,011$1,783$1,600$12,827
Fuel$1,704$1,755$1,808$1,862$1,918$9,047
True Cost to Own®$10,710$6,883$5,859$8,011$7,162$38,625

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$786$810$834$859$885$4,174
Maintenance$963$865$137$1,971$1,579$5,515
Repairs$394$458$535$627$732$2,746
Taxes & Fees$878$41$41$41$41$1,042
Financing$512$405$295$181$65$1,458
Depreciation$4,624$2,053$1,807$1,602$1,437$11,523
Fuel$1,420$1,463$1,506$1,552$1,598$7,539
True Cost to Own®$9,577$6,095$5,155$6,833$6,337$33,997

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$839$864$890$917$944$4,454
Maintenance$1,052$2,070$211$2,574$1,818$7,725
Repairs$394$458$535$627$732$2,746
Taxes & Fees$910$41$41$41$41$1,074
Financing$532$420$307$188$67$1,514
Depreciation$4,805$2,134$1,877$1,664$1,494$11,974
Fuel$1,937$1,995$2,055$2,116$2,180$10,283
True Cost to Own®$10,469$7,982$5,916$8,127$7,276$39,770

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$776$799$823$848$873$4,119
Maintenance$963$1,939$137$1,996$1,579$6,614
Repairs$394$458$535$627$732$2,746
Taxes & Fees$773$41$41$41$41$937
Financing$447$354$257$159$56$1,273
Depreciation$4,038$1,793$1,578$1,398$1,255$10,062
Fuel$1,579$1,626$1,675$1,725$1,777$8,382
True Cost to Own®$8,970$7,010$5,046$6,794$6,313$34,133

*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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