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

$34,886*

Total Cash Price

$19,826

LX 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$32,752*

Total Cash Price

$17,926

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

True Cost to Own

$36,084*

Total Cash Price

$21,816

EX 4dr Sedan (2.4L 4cyl CVT)

True Cost to Own

$34,962*

Total Cash Price

$20,496

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

True Cost to Own

$41,443*

Total Cash Price

$25,137

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

True Cost to Own

$38,989*

Total Cash Price

$22,443

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

True Cost to Own

$37,056*

Total Cash Price

$22,936

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

True Cost to Own

$35,344*

Total Cash Price

$20,329

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

True Cost to Own

$35,414*

Total Cash Price

$21,084

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

True Cost to Own

$39,953*

Total Cash Price

$23,584

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

True Cost to Own

$33,534*

Total Cash Price

$18,897

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

True Cost to Own

$34,775*

Total Cash Price

$17,843

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

True Cost to Own

$36,307*

Total Cash Price

$19,282

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

True Cost to Own

$36,672*

Total Cash Price

$20,049

Accord Coupe

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

True Cost to Own

$39,471*

Total Cash Price

$22,042

EX 2dr Coupe (2.4L 4cyl CVT)

True Cost to Own

$35,294*

Total Cash Price

$20,154

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

True Cost to Own

$36,120*

Total Cash Price

$21,128

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

True Cost to Own

$42,085*

Total Cash Price

$24,888

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

True Cost to Own

$34,427*

Total Cash Price

$19,178

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

True Cost to Own

$37,207*

Total Cash Price

$20,292

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

True Cost to Own

$36,557*

Total Cash Price

$21,557

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

True Cost to Own

$36,299*

Total Cash Price

$21,351

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

True Cost to Own

$41,822*

Total Cash Price

$24,787

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

True Cost to Own

$35,235*

Total Cash Price

$20,132

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

True Cost to Own

$42,139*

Total Cash Price

$22,543

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

True Cost to Own

$35,035*

Total Cash Price

$17,538

Ownership Costs: 5-Year Total

Depreciation

$11,012

Taxes & Fees

$1,003

Financing

$3,604

Fuel

$6,928

Insurance

$3,784

Repairs

$2,746

Maintenance

$5,809

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$972$875$147$2,215$1,600$5,809
Repairs$394$458$535$627$732$2,746
Taxes & Fees$839$41$41$41$41$1,003
Financing$1,233$996$741$465$169$3,604
Depreciation$4,464$1,949$1,715$1,520$1,364$11,012
Fuel$1,305$1,344$1,384$1,426$1,469$6,928
True Cost to Own®$9,920$6,397$5,319$7,073$6,177$34,886

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$972$875$147$1,844$1,600$5,438
Repairs$394$458$535$627$732$2,746
Taxes & Fees$763$41$41$41$41$927
Financing$1,115$900$670$421$153$3,259
Depreciation$4,035$1,762$1,550$1,374$1,233$9,954
Fuel$1,263$1,301$1,340$1,380$1,422$6,706
True Cost to Own®$9,243$6,059$5,027$6,453$5,970$32,752

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$918$41$41$41$41$1,082
Financing$1,357$1,096$815$512$186$3,966
Depreciation$4,913$2,145$1,888$1,673$1,502$12,121
Fuel$1,263$1,301$1,340$1,380$1,422$6,706
True Cost to Own®$10,558$6,679$5,552$6,978$6,317$36,084

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$866$41$41$41$41$1,030
Financing$1,275$1,029$766$481$175$3,726
Depreciation$4,615$2,015$1,773$1,572$1,411$11,386
Fuel$1,263$1,301$1,340$1,380$1,422$6,706
True Cost to Own®$10,108$6,464$5,369$6,826$6,195$34,962

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$1,061$1,005$221$2,778$1,839$6,904
Repairs$394$458$535$627$732$2,746
Taxes & Fees$1,051$41$41$41$41$1,215
Financing$1,563$1,263$939$590$215$4,570
Depreciation$5,663$2,472$2,176$1,929$1,731$13,971
Fuel$1,506$1,551$1,598$1,646$1,695$7,996
True Cost to Own®$11,999$7,574$6,317$8,443$7,110$41,443

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$1,061$1,005$221$2,499$1,839$6,625
Repairs$394$458$535$627$732$2,746
Taxes & Fees$943$41$41$41$41$1,107
Financing$1,396$1,127$839$527$191$4,080
Depreciation$5,055$2,207$1,942$1,721$1,545$12,470
Fuel$1,506$1,551$1,598$1,646$1,695$7,996
True Cost to Own®$11,102$7,158$5,968$7,877$6,884$38,989

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$963$41$41$41$41$1,127
Financing$1,426$1,153$856$539$196$4,170
Depreciation$5,166$2,255$1,985$1,759$1,579$12,744
Fuel$1,263$1,301$1,340$1,380$1,422$6,706
True Cost to Own®$10,944$6,866$5,710$7,111$6,425$37,056

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$972$875$147$2,215$1,600$5,809
Repairs$394$458$535$627$732$2,746
Taxes & Fees$859$41$41$41$41$1,023
Financing$1,264$1,021$760$477$174$3,696
Depreciation$4,577$1,999$1,759$1,559$1,399$11,293
Fuel$1,305$1,344$1,384$1,426$1,469$6,928
True Cost to Own®$10,096$6,485$5,395$7,137$6,231$35,344

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$889$41$41$41$41$1,053
Financing$1,311$1,059$788$495$180$3,833
Depreciation$4,748$2,073$1,824$1,617$1,451$11,713
Fuel$1,263$1,301$1,340$1,380$1,422$6,706
True Cost to Own®$10,299$6,551$5,441$6,884$6,239$35,414

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$1,061$1,005$221$2,499$1,839$6,625
Repairs$394$458$535$627$732$2,746
Taxes & Fees$989$41$41$41$41$1,153
Financing$1,467$1,184$881$554$201$4,287
Depreciation$5,312$2,319$2,041$1,809$1,624$13,105
Fuel$1,506$1,551$1,598$1,646$1,695$7,996
True Cost to Own®$11,490$7,342$6,124$8,008$6,989$39,953

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$972$875$147$1,844$1,600$5,438
Repairs$394$458$535$627$732$2,746
Taxes & Fees$802$41$41$41$41$966
Financing$1,175$950$705$444$161$3,435
Depreciation$4,254$1,857$1,635$1,449$1,300$10,495
Fuel$1,263$1,301$1,340$1,380$1,422$6,706
True Cost to Own®$9,566$6,209$5,152$6,556$6,051$33,534

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$972$1,948$147$1,868$1,600$6,535
Repairs$394$458$535$627$732$2,746
Taxes & Fees$760$41$41$41$41$924
Financing$1,110$896$667$419$152$3,244
Depreciation$4,016$1,754$1,543$1,368$1,228$9,909
Fuel$1,451$1,495$1,540$1,586$1,633$7,705
True Cost to Own®$9,402$7,312$5,215$6,673$6,173$34,775

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$972$1,948$147$2,239$1,600$6,906
Repairs$394$458$535$627$732$2,746
Taxes & Fees$817$41$41$41$41$981
Financing$1,199$969$720$453$164$3,505
Depreciation$4,341$1,895$1,668$1,479$1,327$10,710
Fuel$1,451$1,495$1,540$1,586$1,633$7,705
True Cost to Own®$9,881$7,534$5,401$7,198$6,293$36,307

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$972$1,948$147$1,960$1,600$6,627
Repairs$394$458$535$627$732$2,746
Taxes & Fees$848$41$41$41$41$1,012
Financing$1,247$1,007$749$471$171$3,645
Depreciation$4,514$1,971$1,734$1,537$1,380$11,136
Fuel$1,451$1,495$1,540$1,586$1,633$7,705
True Cost to Own®$10,142$7,657$5,506$7,004$6,363$36,672

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$1,061$1,005$221$2,524$1,839$6,650
Repairs$394$458$535$627$732$2,746
Taxes & Fees$927$41$41$41$41$1,091
Financing$1,371$1,107$824$517$188$4,007
Depreciation$4,964$2,167$1,907$1,691$1,517$12,246
Fuel$1,566$1,613$1,661$1,711$1,763$8,314
True Cost to Own®$11,115$7,248$6,072$8,020$7,016$39,471

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$852$41$41$41$41$1,016
Financing$1,253$1,013$753$473$172$3,664
Depreciation$4,538$1,981$1,744$1,545$1,387$11,195
Fuel$1,305$1,344$1,384$1,426$1,469$6,928
True Cost to Own®$10,108$6,530$5,446$6,915$6,295$35,294

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$891$41$41$41$41$1,055
Financing$1,314$1,061$790$496$180$3,841
Depreciation$4,758$2,077$1,828$1,620$1,454$11,737
Fuel$1,305$1,344$1,384$1,426$1,469$6,928
True Cost to Own®$10,441$6,687$5,581$7,027$6,384$36,120

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$1,061$1,005$221$2,778$1,839$6,904
Repairs$394$458$535$627$732$2,746
Taxes & Fees$1,041$41$41$41$41$1,205
Financing$1,548$1,250$930$584$212$4,524
Depreciation$5,606$2,448$2,154$1,909$1,714$13,831
Fuel$1,566$1,613$1,661$1,711$1,763$8,314
True Cost to Own®$12,075$7,700$6,453$8,589$7,268$42,085

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$813$41$41$41$41$977
Financing$1,193$963$717$450$163$3,486
Depreciation$4,318$1,885$1,659$1,470$1,320$10,652
Fuel$1,305$1,344$1,384$1,426$1,469$6,928
True Cost to Own®$9,769$6,363$5,304$6,795$6,196$34,427

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$972$1,948$147$1,960$1,600$6,627
Repairs$394$458$535$627$732$2,746
Taxes & Fees$858$41$41$41$41$1,022
Financing$1,262$1,019$758$477$173$3,689
Depreciation$4,569$1,995$1,755$1,556$1,397$11,272
Fuel$1,451$1,495$1,540$1,586$1,633$7,705
True Cost to Own®$10,287$7,760$5,605$7,100$6,455$37,207

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$908$41$41$41$41$1,072
Financing$1,341$1,083$805$506$184$3,919
Depreciation$4,855$2,120$1,865$1,653$1,484$11,977
Fuel$1,305$1,344$1,384$1,426$1,469$6,928
True Cost to Own®$10,601$6,772$5,653$7,091$6,440$36,557

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$900$41$41$41$41$1,064
Financing$1,328$1,072$798$501$182$3,881
Depreciation$4,808$2,099$1,847$1,638$1,470$11,862
Fuel$1,305$1,344$1,384$1,426$1,469$6,928
True Cost to Own®$10,515$6,721$5,609$7,051$6,403$36,299

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$1,061$1,005$221$2,524$1,839$6,650
Repairs$394$458$535$627$732$2,746
Taxes & Fees$1,037$41$41$41$41$1,201
Financing$1,541$1,246$926$582$211$4,506
Depreciation$5,584$2,438$2,145$1,902$1,707$13,776
Fuel$1,566$1,613$1,661$1,711$1,763$8,314
True Cost to Own®$12,055$7,699$6,454$8,340$7,274$41,822

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$972$875$147$1,935$1,600$5,529
Repairs$394$458$535$627$732$2,746
Taxes & Fees$851$41$41$41$41$1,015
Financing$1,252$1,011$752$473$172$3,660
Depreciation$4,533$1,979$1,742$1,544$1,385$11,183
Fuel$1,305$1,344$1,384$1,426$1,469$6,928
True Cost to Own®$10,093$6,518$5,435$6,905$6,284$35,235

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$1,061$2,079$221$2,555$1,839$7,755
Repairs$394$458$535$627$732$2,746
Taxes & Fees$947$41$41$41$41$1,111
Financing$1,402$1,132$843$529$192$4,098
Depreciation$5,077$2,217$1,951$1,729$1,552$12,526
Fuel$1,780$1,833$1,888$1,945$2,003$9,449
True Cost to Own®$11,500$8,624$6,369$8,343$7,303$42,139

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$972$1,948$147$1,960$1,600$6,627
Repairs$394$458$535$627$732$2,746
Taxes & Fees$748$41$41$41$41$912
Financing$1,091$881$655$412$149$3,188
Depreciation$3,947$1,724$1,517$1,344$1,206$9,738
Fuel$1,451$1,495$1,540$1,586$1,633$7,705
True Cost to Own®$9,379$7,346$5,258$6,818$6,234$35,035

*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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