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- To calculate your cost per mile, you need to12:
- Determine your mileage over a given time period. You can use a mileage tracker app or a logbook to record your miles.
- List out each expense related to your vehicle, such as gas, maintenance, insurance, registration, etc. Track your expenses using the same time period as your mileage.
- Divide your total expenses by your total mileage. This will give you your cost per mile. For example, if your expenses were $3,000 and your mileage was 10,000, your cost per mile is $0.30.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.To calculate your cost per mile, simply divide your total expenses for the month by the total number of miles you have driven that month. For example, if your expenses totaled $3,000 and you drove 10,000 miles, your cost per mile is $0.30.schneiderowneroperators.com/owner-operator-tips/…How to Calculate Cost per Mile
- 1. Determine your mileage over a given time period Begin by selecting a timeframe for your calculations. ...
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