How it works
Everyone quotes the sticker price or the monthly payment. Nobody quotes the 5-year true cost: depreciation + loan interest + insurance + fuel + maintenance. CAA says depreciation alone is the biggest cost of owning a car — roughly half the total — and almost nobody budgets for it.
Here's the claim: a $35,000 gas car driven 30,000 km a year with average Ontario insurance and 7-year financing really costs about $61,000 over five years (42% 5-yr depreciation per iSeeCars 2026, $1.54/L fuel, $2,600/yr insurance). Run your numbers below and see if the claim holds up.
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Your verdict
Where your money goes over 5 years
NorthPeak Auto · True Car Cost Quiz
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Your next moves
Beat your car bill
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OBD2 scanner — read your own check-engine codes before a shop quotes you. One skipped diagnostic visit pays for the tool.
Level 2 EV home charger — if the quiz points you toward electric, home charging at off-peak Ontario rates (~9.8¢/kWh) is where the savings actually come from.
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Estimates only — not financial advice
This quiz is general information only. It is not financial advice and is not a recommendation to buy, sell, lease, or finance any vehicle. The 5-year true cost is a modeled estimate built from published sources — the iSeeCars 2026 5-year depreciation study, CAA driving-cost guidance, MyChoice Canadian ownership data, and Ontario Time-of-Use electricity rates — combined with sample loan rates that are not quotes. Real costs vary by vehicle, insurer, lender, and driving habits. Ontario only; figures and rules differ elsewhere. For advice about your situation, speak to a licensed professional.
Frequently asked questions
Is this quiz financial advice?
No. This quiz produces estimates for educational purposes only. It is not financial advice and should not be treated as a recommendation to buy, sell, or finance any vehicle.
How is the 5-year true cost calculated?
The quiz adds depreciation (42% of price for gas, 38% for hybrids, 55% for EVs — based on the iSeeCars 2026 study), loan interest over the first 60 months at your chosen sample rate, insurance × 5, fuel from your annual kilometres × consumption ($1.54/L for gas/hybrid; ~10¢/kWh for EV charging), and maintenance × 5 — plus a labeled ownership-length adjustment.
Why is my true cost so much higher than the sticker price?
The sticker price is only part of ownership. CAA notes depreciation is the single largest cost of car ownership — often about half the total — and almost nobody budgets for it. Add loan interest, insurance, fuel, and maintenance, and the real number is routinely 1.5–2× the price you paid.
Where do the quiz's numbers come from?
Depreciation bands: iSeeCars 2026 5-year depreciation study. Routine maintenance: CAA ($500–$700/year). Fuel price ($1.54/L) and average distance (15,200 km/year): MyChoice 2026 Canadian ownership analysis. Ontario insurance context: ~$2,100–$2,650/year (NorthPeak Auto 2026). EV charging: Ontario Time-of-Use off-peak rate (~9.8¢/kWh). Loan rates are samples, not quotes.
Is the quiz free?
Yes. The quiz is free and your answers stay in your browser — nothing is sent anywhere.