Total Cost of Ownership (TCO) is a data science-based tool which calculates the total money that you will have to spend owning a car, bike or a scooter for a period of five years. This tool also helps in comparing the ownership of cost of vehicles and let you know which will be the cheapest for you to own. You can also view the breakdown of the cost among different parameters such Insurance Cost, Fuel Cost, Tyre Change Cost, Service Cost, Depreciation.
Total cost of ownership is based on the Ex-showroom price and monthly running kilometers of a vehicle. All the costs such as insurance cost, fuel cost and so on are calculated using Droom's propriety algorithm
Steps in Calculation:
The tool gives the ownership cost of any car, bike, scooter in two forms: