"Should I repair my current vehicle or buy a new one?" We are often asked to answer this difficult question when customers are faced with the costs of repairing their Audi, BMW, Jaguar, Land Rover, Mercedes, Porsche or other European vehicle. While auto repair costs can seem significant at the moment, the expense of a new car often goes far beyond the sticker price or monthly payment. Many buyers overlook thousands in hidden costs. This calculator is designed to reveal the estimated true new car cost by factoring in essential but often-missed expenses like depreciation, interest, maintenance, and taxes. Use this tool to get a complete picture and make a truly informed decision about whether to purchase a new vehicle or to continue on with your repair.
Note about depreciation: The calculator uses a simple straight-line depreciation model where the car loses the specified percentage of its current value each year (not its original value). This compounds annually, reflecting how cars typically depreciate faster in earlier years.
Note about maintenance: Maintenance costs typically increase as a vehicle ages. This calculator offers two options: a standard model that calculates maintenance as a percentage of the car's value, or a custom model where you specify an annual amount. For more accuracy, consider that maintenance costs are often lower in the first few years and higher in later years.