What is LIFETIME COST?

The total cost incurred by possessing certain goods over their lifetime. This is added on to purchase cost. Maintenance, insurance, renovation, and the like are typical add-on costs. These extra costs may tally higher than the original cost of the goods itself when tallied together over the lifetime of the goods.

More On This Topic



Link to This Definition
Did you find this definition of LIFETIME COST helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary