How the Truck Cost Per Mile Calculator works
Fuel is your yearly miles ÷ miles per gallon × the price per gallon.
Then we add a year of payments and insurance, plus repairs, tires and the other yearly costs.
Cost per mile is that total ÷ your yearly miles. Cost per work day is the total ÷ the days you work.
The answer is only as good as your numbers. Use last year's receipts if you have them.
Tips from the trade
- Use cost per mile when you price far-away jobs. A 40-mile round trip at $0.90 a mile is $36 before you've done any work.
- For taxes, the IRS sets a standard mileage rate each year. Compare it with your real cost, and ask your tax professional which way to deduct.
- Log every business mile as you go. It's far easier than rebuilding a year of trips at tax time.
A worked example
Here's the example that's already filled in above, so you can see how the Truck Cost Per Mile Calculator works before you enter your own numbers.
- Miles you drive a year20,000
- Miles per gallon15
- Price per gallon$3.60
- Truck payment per month$550
- Insurance per month$180
- Repairs and maintenance per year$1,500
- Tires per year$400
- Registration, tolls, other per year$300
- Days you work a year240
The result: truck cost per year $15,760; cost per mile $0.79; cost per work day $66; fuel share of the cost 30%.
Your truck costs about $0.79 a mile. Only 30% of that is fuel, so pricing by gas alone undercounts it.
Related free tools
- Travel Charge Zone Calculator: fair travel charges by distance zone, so far-away jobs pay for their own drive.
- Bid or Walk Away Job Checker: should you take this job? See its real cost, your margin, the lowest price worth taking and the risks to watch.
- Route Day Planner: how long your day really is, how much of it is driving, and what your route makes after labor and truck costs.
When you need more than the free Truck Cost Per Mile Calculator
This calculator answers one quick question. Running a business means doing it on every job, with your own rates saved and a quote you can send.
Truck Cost Per Mile Calculator questions
How do I work out my truck's cost per mile?
Add up a year of fuel, payments, insurance, repairs, tires and other costs, then divide by the miles you drove. This calculator does it for you.
Is the IRS mileage rate the same as my real cost?
Not necessarily. The IRS standard rate is a set amount per business mile for taxes, and it changes. Your real cost may be higher or lower. Check the current rate on the IRS website and ask a tax professional which method suits you.
Should I include my truck payment?
Yes, if the truck is used for work. The payment, or what the truck loses in value each year if it's paid off, is a real cost of every mile.
How do I use this in my prices?
Multiply your cost per mile by the round-trip miles for a job and add it to the job's cost. Our quote calculators do this automatically.