Rent vs Own Car Calculator
Compare the cost of renting a car daily versus owning one.
Factor in rental rates, monthly payments, insurance, and maintenance.
Cost Comparison
Rent vs Own helps you decide if owning a car makes sense based on how often you need one.
Rental cost:
Annual Rental = Days Needed × Daily Rate
Ownership cost:
Annual Ownership = (Monthly Payment × 12) + Annual Insurance + Annual Maintenance + Fuel
Breakeven rule of thumb:
- If you need a car fewer than 10-12 days/month, renting may be cheaper
- If you need a car most days, owning is almost always cheaper
Average costs:
- Car rental: $40–$80/day (economy to midsize)
- Monthly car payment: $500–$700 (new car, 60-month loan)
- Insurance: $150–$250/month
- Maintenance: $75–$125/month average
Also consider: ride-sharing, car-sharing services (Zipcar, Turo), and public transit as alternatives.