What does TrueTravelCost calculate?
Our calculations combine journey information with vehicle-related costs to provide a broader estimate of what a journey actually costs. Depending on the information available for a journey and vehicle, the calculation can include:
- Fuel or electricity
- Maintenance and servicing
- Tyres
- Vehicle wear
- Depreciation
- Tolls and other journey charges
The aim is to move beyond a simple fuel-cost calculation and provide a more realistic estimate of the overall cost associated with travelling a given distance.
1. Journey distance
The calculation begins with the journey itself. Distance is an important foundation because many vehicle costs increase as the vehicle is driven.
Where route information is available, the calculated journey distance can be used as the basis for estimating the costs associated with the trip.
2. Fuel and electricity
Fuel or electricity costs are estimated using the vehicle's expected consumption and the relevant energy price.
For a combustion vehicle, the basic calculation is based on the relationship between distance, fuel consumption and fuel price. For an electric vehicle, the equivalent calculation can use estimated electricity consumption and the applicable electricity cost.
Actual consumption can vary considerably depending on driving style, traffic, weather, temperature, vehicle load, speed and road conditions.
3. Maintenance and servicing
Vehicles require servicing and maintenance throughout their lives. These costs are not normally visible when calculating the fuel cost of a journey, but they are part of the cost of operating a vehicle.
TrueTravelCost can estimate a portion of these costs based on vehicle characteristics, expected maintenance requirements and distance travelled.
Actual maintenance costs vary according to vehicle age, mileage, condition, manufacturer, workshop prices and individual repair requirements.
4. Tyres
Tyres are another distance-related vehicle cost.
A tyre-cost estimate can be calculated by considering the expected cost of tyres and their approximate useful distance.
Tyre life varies depending on the vehicle, tyre type, driving style, road conditions, alignment, weather and other factors.
5. Vehicle wear
Driving contributes to the gradual wear of a vehicle's components. Brakes, suspension components, drivetrain components and other parts can eventually require replacement or repair.
These costs are difficult to assign precisely to a single journey. TrueTravelCost therefore treats them as estimated costs rather than guaranteed expenses.
6. Depreciation
Depreciation represents the reduction in a vehicle's value over time. Mileage can also contribute to depreciation because higher mileage can affect the market value of a vehicle.
Depreciation is one of the most significant costs that can be overlooked when people calculate the cost of driving.
Estimating depreciation is inherently less precise than calculating fuel consumption because vehicle values are influenced by factors such as age, mileage, condition, specification, market demand and the wider used-car market.
7. Tolls and journey charges
Some journeys involve costs that are directly associated with the route, such as toll roads, bridges, tunnels, congestion charges or other travel charges.
Where reliable route and pricing information is available, these costs can be incorporated into the overall journey calculation.
From individual costs to true travel cost
The overall concept can be represented as:
The result can then be expressed as a total journey cost or as an estimated cost per kilometre.
Why are these estimates?
No calculation can know the exact cost of every future repair, tyre replacement, change in fuel price or change in vehicle value. TrueTravelCost therefore provides estimates based on the information available and the assumptions used by the calculation.
The purpose is not to suggest that a journey will cost exactly a particular amount. The goal is to provide a more useful estimate than considering fuel or electricity alone.
What can affect the result?
Real-world vehicle costs can vary because of:
- Driving style
- Traffic and congestion
- Weather and temperature
- Vehicle load
- Vehicle age and condition
- Tyre choice and condition
- Fuel or electricity prices
- Maintenance and repair prices
- Annual mileage
- Vehicle resale value
- Local taxes, tolls and charges
- Route selection
Data and assumptions
As TrueTravelCost develops, the calculation engine can incorporate increasingly detailed vehicle, route, pricing and ownership data.
Where external data is used, the intention is to make the relevant assumptions and data sources transparent so users can understand how estimates have been produced.
Different calculations may therefore produce different results depending on the data, assumptions and date on which they are performed.
Designed for real-world decisions
TrueTravelCost is not intended to produce a single universal cost for every vehicle or journey. Instead, it is designed to help people understand how the cost of travelling changes according to the vehicle they drive, the distance they travel and the way they use it.
That makes the calculation useful for one-off trips, regular commutes, annual driving and vehicle-buying decisions.
Want to calculate your own journey?
Use the TrueTravelCost calculator to estimate the cost of your journey.
Calculate your true travel cost