CPM Calculator
Calculate your vehicle’s Cost Per Mile (CPM) by dividing your annual ownership expenses by your Mileage Per Year (MPY).
This calculator can help you do the math if you know your numbers. If you don’t know how much you spend on gas or how many miles you drive per year, we may be able to help. At the bottom of this page is an example to help you estimate your numbers. If you would like a personalized consultation, please contact me today for some coaching on how to calculate your CPM.
Still unsure or something doesn’t look right when you plug in your numbers? Check out the information below or contact us directly at damon@carma-services.com.
How can I figure out how many miles I drive per year?
If you know about how much you drive per month, just multiply by 12 for your approximate annual mileage.
Still unsure? Then let’s look at how much you spend each time you fill up, how often you do so and how far you can go on one gallon of gas.
Let’s say you fill up twice per month and pay $40 per fill up. We now know that you spend about $80 per month. Multiply that by 12 and you have calculated your approximate annual gas cost and if it looks to be what you’d expect, you can enter that into the tool above. In the example provided this would be $960.
Once you know how much you spend, it’s time to figure out how much that equates to in gallons of gas used by your vehicle each year. This can be done by dividing your annual gas cost by the cost of one gallon of gas. To keep it simple we will say it is at $3 per gallon and in the example provided this would mean that you use $960/$3 and that would be 320 gallons of gas per year.
Now that we know how many gallons you use, we can take your vehicle’s MPG (miles per gallon) and multiply that by the number of gallons used to calculate your miles driven per year. If you don’t know your vehicles MPG, a quick Google search can provide that information. For example a search for “2012 Honda Civic MPG” yields a result of 29 city/40 highway. If you drive mostly in the city go closer to the low end of this range or higher if you spend a lot of time at highway speed. Not sure or if it’s fairly mixed, pick a number in the middle. For this example we will use 34 MPG.
With all of our numbers now available, we take the number of gallons used times our selected MPG. For this example, that is 320 gallons times 34 MPG and that would tell us that our miles per year (MPY) is just under 11K at 10,880.
Still unsure or something doesn’t look right when you plug in your number? Contact me today and I can walk you through it in more detail.
About
We give local vehicle sellers more options when they are looking to turn their car into cash.