Total Cost of Ownership (TCO) analysis is an important tool to estimate total costs incurred for Additive Manufacturing (AM) over the time of the useful life from the purchaser’s perspective. Thus, the paper on hand describes the application of the TCO model to different state of the art Fused Deposition Modelling (FDM) machines. The application of the TCO model to AM aims at uncovering and integrating cost savings and sustainability benefits into procurement decisions. A generic TCO model for AM was developed and applied to three selected FDM printers. The true costs were identified with the help of historical costs, vendor data and results from measurements on material and energy consumption. The cost calculations showed that the value and distribution of TCO cost components highly depend on the type of FDM printer as well as on identified influencing factors. The study resulted in recommendations towards sustainability improvement and concurrent cost reduction in AM, such as the reduction of material waste. To unleash cost and sustainability advantages, it is recommended to optimise procurement decisions while disclosing all true costs and properties of the 3D printers at the time of the product selection.