How this number is made
The payment is the number on the contract. The cost of having the car is the payment plus insurance, fuel, and the upkeep you actually spend. Registration and a surprise repair are missing unless you fold them into upkeep. Depreciation is a separate page because it is not a monthly check.
- Use a typical month for fuel, not a road-trip month, unless that is your life.
- Upkeep can be a sinking fund: the year’s tires and service divided by 12.
Formula
Monthly cost = payment + insurance + fuel + upkeep.
Worked example
With the figures already in the form, per month is $770.00.
Questions
Where is depreciation?
On the car depreciation page. It is value you do not get back, not cash you write this month.
Should I include parking?
Yes, if you pay for it. Add it to upkeep.