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Cost Per Day Of A Purchase Calculator

Work out cost per day of a purchase instantly with clear inputs, formula shown and shareable results.

About Cost Per Day Of A Purchase Calculator

Cost per day spreads the purchase price plus running costs, less resale value, over the days you will actually use the item. It is the fairest way to compare a cheap item used rarely with an expensive one used daily.

Formula

Cost per day

Cost per day = (price - resale + running cost × years) / (years × 365)

Worked example

With the default values below, Cost Per Day Of A Purchase Calculator returns Cost Per Day Of Ownership of $50.96. Change any input above and every figure here is recalculated in your browser.

Inputs used

Purchase Priceminimum 0
85,000
Expected Years Of Useaccepts 0.25–40
5
Annual Running Costminimum 0
4,000
Expected Resale Valueminimum 0
12,000

Results

Cost Per Day Of Ownership
$50.96
Total Cost Of Ownership
$93,000.00
Cost Per Month
$1,551.19
Cost Per Year
$18,600.00

Step by step

  1. 1Values used
  2. 2Cost per day
  3. 3Cost Per Day Of Ownership= 50.96
  4. 4Total Cost Of Ownership= 93,000.00
  5. 5Cost Per Month= 1,551.19
  6. 6Cost Per Year= 18,600.00

Assumptions and limits

  • The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation or tax into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Figures are estimates for planning only. Prices, returns, inflation and personal circumstances all change. This is not financial or tax advice — speak to a qualified adviser before making decisions.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Figures are estimates for planning only. Prices, returns, inflation and personal circumstances all change. This is not financial or tax advice — speak to a qualified adviser before making decisions.

Frequently Asked Questions

Does this justify expensive purchases?

Sometimes legitimately — a durable item used daily can cost less per day than a cheap one replaced yearly.

What is the common mistake?

Overestimating years of use. Be honest about how long you will really keep and use the item.

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