Cost example updated October 24, 2026
Start with the price you will actually pay
For a representative example, use a used 2020 Chevrolet Impala LT Sedan 4D at $14,400. That is Kelley Blue Book's Fair Purchase Price (the national average of what buyers are currently paying for a typical-condition example from a dealership, updated weekly). The same car started at $33,590 when new, so the steepest part of its value drop is already behind a used buyer. The spread around that figure is real and worth knowing: Edmunds lists a clean-condition dealer retail value of $16,327 and an average-condition dealer retail of $15,462, while CarGurus' average listing price for a 2020 Impala sits near $14,470 to $14,691 depending on the snapshot. The top Premier trim starts higher, at $15,900 on KBB. Mileage, condition and location move any single car off the average, so replace this starting point with a written price for the exact car you are considering. One more used-market fact that shapes this purchase: CarGurus' listing data shows only about 54% of 2020 Impala listings as accident-free, so a vehicle history report and a pre-purchase inspection are part of the price of getting this example's numbers, not extras.
The down payment does not make the Impala cheaper; it changes how much you finance (borrow). With 10% down ($1,440), 8% APR (the yearly interest rate on the loan) and 60 months, and the 7% sales tax ($1,008) and $900 in title and dealer fees rolled into the loan, this example finances $14,868 at $301 a month, and the loan costs about $3,220 in interest over five years. A note on that rate, stated rather than smoothed over: published used-car loan averages disagree sharply right now, about 6.7% in one weekly bank-rate survey, about 12% in another 2026 average, with a third source citing Experian at 7.1% for October. The 8% used here is the site's stated assumption for comparability, inside that spread but not at either end; your own rate depends on credit, the lender and the age of the car, and a higher rate moves the payment and the interest bucket directly.
Fuel: the V6 line item
Every 2020 Impala carries the same engine: a 3.6-liter V6 making 305 horsepower, paired with a six-speed automatic and front-wheel drive. It is rated 22 mpg combined (19 city, 28 highway). At 12,000 miles a year that is about 545 gallons annually, roughly $2,345 a year, $11,727 over five years at $4.30 a gallon, the AAA national average for regular gasoline on October 24, 2026 ($4.296, with the Energy Information Administration's weekly average at $4.28 for the week of October 19). One conflict, stated rather than settled: some fuel-economy aggregator sites show 23.5 mpg combined for the 2020 Impala, but that figure is computed in imperial gallons, not U.S. gallons, and the U.S. EPA-style rating is 22 combined. This example uses 22. The method behind that math is in the EV vs. gas guide: miles divided by mpg, times price, times years.
Depreciation works differently on a used car
Depreciation is the value a vehicle loses over time. On a new car it is usually the biggest bucket; on a six-year-old Impala it is not, because the fall from $33,590 to $14,400, about 57%, already happened before this example starts. What remains is the next five years, from age six to age eleven, and no forecaster publishes a 2031 value for a 2020 Impala. So this page uses a proxy, stated openly: today's 11-year-old Impala (the 2015 model) averages $10,634 in CarGurus listings, and Kelley Blue Book puts the 2015 Impala's current resale value at $12,057. This example conservatively uses $10,000 as the resale value after five more years, about $4,400 of depreciation, roughly $73 a month. That figure is a planning assumption built from the proxy, not a forecast. Two warnings ride with it: first, do not take a from-new depreciation percentage (iSeeCars' model-level Impala figures run around 54% over five years from new) and apply it to a used price, that double-counts a drop that already happened. Second, run a second scenario with resale lower: if the car were worth $7,000 instead of $10,000 after five years, depreciation would be $7,400 and the five-year total would be $39,255, or about $654 a month.
Insurance runs close to the all-car average
Full-coverage averages for an Impala cluster between about $144 and $190 a month depending on the source (InsuredBetter at the low end at about $144, Compare.com at $174 in its model table and $190 in its headline average, Insurify at $185 in its full-coverage table, Insuraviz at about $189). This example uses $175 a month, or $10,500 over five years, inside that published range, near the middle. One conflict inside a single source, stated rather than settled: Insurify's model table lists the Impala at $185 a month for full coverage, while a separate Insurify Chevrolet table lists it at $151. Premiums depend heavily on the driver, ZIP code, coverage and insurer, so get a quote on the exact car with matching deductibles (what you pay first on a claim) and limits before treating any average as yours.
Impala maintenance costs: average, with an older-car cushion
RepairPal rates Impala reliability 4.0 out of 5.0 (5th out of 12 full-size cars) and puts the average annual repair cost at $568, about average for the class, with shop visits less frequent than average. This example allows $900 a year, or $4,500 all-in for maintenance and repairs, above that average on purpose: the car in this example ages from six to eleven years old across the five years, and that stretch is when tires, brakes, suspension wear and the out-of-warranty items no average can predict for one specific car arrive. The $568 figure is the published average; the $900 is a planning allowance built from it, plus routine upkeep and a tire set inside five years. A pre-purchase inspection is the cheapest way to keep that allowance honest.
The full five-year example
Every figure below comes from the site's own calculator math. The stated inputs are: used 2020 Chevrolet Impala LT Sedan 4D, $14,400 price, 10% down ($1,440), 8% APR, 60 months, 7% sales tax, $900 in title and dealer fees, 12,000 miles per year, 22 mpg, $4.30 per gallon, $175 per month insurance, $900 per year maintenance, $10,000 resale value after five years. The sales tax and fees are rolled into the loan, so the amount financed is $14,868.
- Depreciation: $4,400 ($14,400 minus $10,000 resale)
- Insurance: $10,500 ($175 x 60 months)
- Fuel: $11,727 (12,000 / 22 x $4.30 x 5 years)
- Maintenance: $4,500 ($900 x 5 years)
- Tax, fees and interest: $5,128 ($1,008 sales tax, $900 fees, $3,220 loan interest)
That totals roughly $36,255, or about $604 a month. Notice the shape of that number, which is different from a new-car page: the $301 payment is only about 50% of the average month's true cost. On a used Impala, fuel and insurance, not the payment and not depreciation, are the two biggest buckets, and during the loan years the cash actually going out is the payment plus insurance, fuel and upkeep.
Formula
The five-year total is the sum of five buckets: depreciation, insurance, fuel, maintenance, and tax, fees and interest. Depreciation is the $14,400 price minus the $10,000 resale value after five years, which is $4,400. Insurance is $175 a month times 60 months, which is $10,500. Fuel is 12,000 miles a year divided by 22 miles per gallon, times $4.30 a gallon, times 5 years, which is about $11,727. Maintenance is $900 a year times 5 years, which is $4,500. Tax, fees and interest is 7% sales tax on $14,400, which is $1,008, plus $900 in title and dealer fees, plus about $3,220 of loan interest, which is $5,128.
Added together, $4,400 plus $10,500 plus $11,727 plus $4,500 plus $5,128 equals $36,255, or about $604 a month. The amount financed is the $14,400 price plus $1,008 sales tax plus $900 in fees, minus the $1,440 down payment, which is $14,868. The tax and fees are rolled into the loan. At 8% APR over 60 months, the payment on $14,868 is $301 a month, and the loan costs about $3,220 in interest over five years.
Why Impala buyers should think past year five
The loan ends at year five, and the depreciation curve on an older car is already flat, but the wear-and-repair years keep coming, and parts and repair access for a discontinued nameplate deserve a check before a long hold, not after. The keep it 10 years guide shows how to extend this same math honestly, and the new vs. used guide lays out how a used purchase like this one compares with buying new. Shopping the Impala against another big sedan? The Car Showdown runs any two vehicles through the same five buckets side by side.
Enter the Impala purchase price, insurance quote, your real annual mileage, local fuel price, maintenance allowance and conservative resale value in the calculator. Then change only the inputs that differ to test a Premier trim, a higher-mileage example, a different loan rate, or a longer ownership horizon.
Buying in Texas? Texas adds its own layer to these numbers, a 6.25% sales tax, its own fees, and some of the highest insurance in the country. See the true cost of a car in Texas.
Calculation transparency
Jurisdiction. United States. Sales tax, titling, registration and insurance rules are set by your state, so your exact numbers depend on where you buy and register the car. The 7% sales tax and $900 in fees in this example are planning figures, not any one state's actual rates.
Rules and time period. Five years, 12,000 miles a year, gas at $4.30 a gallon (AAA national average, October 24, 2026), 8% APR, 60 months, 10% down. The resale value is a planning assumption, not a forecast.
Scope and limitations. Educational estimate only. Insurance and maintenance are planning figures, not quotes. Get a real quote for the same trim, coverage and loan before you decide.
Source links checked November 6, 2026. Figures: Kelley Blue Book 2020 Impala LT Fair Purchase Price (updated weekly); Edmunds 2020 Impala dealer retail values; RepairPal Impala average annual repair cost, about $568; Compare.com Chevrolet Impala full-coverage average, $174 a month; EIA weekly gas prices.
Primary sources: Kelley Blue Book, 2020 Chevrolet Impala; Edmunds, 2020 Chevrolet Impala appraisal value; RepairPal, Chevrolet Impala reliability; Compare.com, Chevrolet Impala car insurance; EIA, Gasoline and Diesel Fuel Update. How the numbers are calculated is written down on the methodology page, and every source is listed on the sources page.
Definitions
Depreciation. The value a car loses over time. On this page, the $14,400 price minus the $10,000 resale value after five years, which is $4,400.
Resale value. What the car is worth after five years in this example, $10,000, based on what 11-year-old Impalas sell for today. A planning assumption, not a promise.
APR. Annual percentage rate, the yearly cost of borrowing before fees. This example uses 8%.
Down payment. The cash paid up front. Here it is 10%, or $1,440.
Combined mpg. The EPA city and highway ratings blended into one figure. It is 22 for the 2020 Impala V6, 19 in the city and 28 on the highway.
Full coverage. Insurance that covers damage to your own car as well as damage to others. This example uses $175 a month.
Fair Purchase Price. Kelley Blue Book's price for a dealer sale in typical condition, updated weekly. The $14,400 price in this example is that figure for a 2020 Impala LT.
Questions people actually ask
How much does a used Chevrolet Impala cost per month?
About $604 a month over five years in the example on this page. The loan payment alone is $301 a month, insurance, fuel and upkeep sit on top of that during the loan years, and depreciation is the value the sedan loses rather than cash out the door.
How much does a Chevrolet Impala cost to own for 5 years?
About $36,255 over five years for a used 2020 Impala LT at $14,400, using the assumptions on this page: 10% down, 8% APR, 60 months, 7% sales tax, 12,000 miles a year and $4.30-a-gallon gas.
What is the gas mileage of a Chevrolet Impala?
The 2020 Impala's 3.6-liter V6 is rated 19 mpg city, 28 mpg highway and 22 mpg combined. Some aggregator sites show 23.5 mpg combined, but that figure uses imperial gallons, not the U.S. EPA rating.
How much does insurance cost for a Chevrolet Impala?
Published full-coverage averages range from about $144 to $190 a month depending on the source. This example uses $175 a month, or $10,500 over five years. Your own quote depends on the driver, ZIP code, coverage and insurer.
Does a Chevrolet Impala hold its value?
From new, no, the steepest drop is already behind a used buyer: a 2020 LT that started at $33,590 now runs about $14,400, a fall of roughly 57%. Going forward, this example assumes a $10,000 resale value after five more years, based on what 11-year-old Impalas sell for today, a planning assumption, not a promise.
Related: See the Chrysler 300, another full size sedan with the same honest math