Rideshare Driver: What Is My Real Cost Per Mile?
Rideshare drivers with high mileage and accelerated depreciation need to know their true cost per mile to stay profitable.
How to use this tool
- Enter how many miles you drive per year.
- Enter your annual fuel cost.
- Add insurance, maintenance, and depreciation for the year.
- Include other costs like registration, tolls, and financing.
- Read your total and fuel-only cost per mile.
Rideshare drivers rack up miles quickly — calculate your true per-mile cost to ensure you're earning more than you're spending.
Frequently asked questions
- What is a typical cost per mile to drive?
- AAA and IRS estimates put all-in driving costs roughly in the $0.55-$0.75 per mile range for a newer car. Older, paid-off vehicles can run well under $0.40 because depreciation has slowed.
- Why include depreciation?
- Depreciation is a real cost — the car is worth less each year whether or not you sell it. Ignoring it badly understates the true cost of driving, especially for newer vehicles.
- How can I lower my cost per mile?
- Keep a car longer to slow depreciation, shop insurance, do routine maintenance to prevent big repairs, and drive efficiently. Spreading fixed costs over more miles also reduces the per-mile figure.