When looking to purchase something new, especially something that is expensive, it is important to consider the total cost of owning the item. The Total Cost of Ownership Calculator can help you realize the overall total price of owning something, rather than just considering the purchase price. The calculator can help you see the total product costs, both direct and indirect, and create an annual comparison for you to evaluate your purchase.
How to Use the Total Cost of Ownership Calculator
- The Total Cost of Ownership Calculator is available for free from this website.
- The calculator worksheet is very easy to use, so you will be able to see what your expected cost of ownership is, easily and efficiently.
- You can download the calculator template directly from this website to your computer.
- Once you have downloaded the calculator template, you can customize it to your specific needs. You will be able to customize the calculator template to fit the needs and expectations of the item, that you are wanting to purchase
Tips for Using the Total Cost of Ownership Calculator
- Use the calculator template to compare different products, to figure out how much the true cost of owning the items are, rather than just basing your decision on initial purchase price.
- You can customize the Total Cost of Ownership Calculator to the features and expenses of the items that you are comparing and calculating the cost of.
- Know the specifications, usage, size, etc. of the items that you are comparing, as to accurately compare and figure out the best overall total cost of ownership.
- Consider the indirect costs of the items that you are wanting to purchase, as they also have an impact on the overall cost of ownership.
When buying new items, it is important to look at the total cost of ownership, rather than just the initial purchase cost. The Total Cost of Ownership Calculator will help you evaluate and decide which items will give you the best features and ownership cost for your money. You will also be able to do a total annual cost comparison, to see how much each item will cost you over its lifetime.
Download: Total Cost of Ownership Calculator
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