Sustainability
EV vs Gas Car Cost Calculator
Compare total cost of ownership between electric and gasoline vehicles
FAQs
Is an electric car cheaper to own than a gas car?
In many cases, yes. While the purchase price is often higher, lower fuel and maintenance costs typically lead to overall savings over 3-7 years.
How much can I save on fuel with an EV?
On average, charging an EV costs about 1/3 to 1/2 as much as fueling a comparable gas car, depending on local electricity and gas prices.
Is maintenance really lower for EVs?
Yes, EVs have significantly fewer moving parts, requiring no oil changes, spark plugs, or timing belt replacements, and regenerative braking extends brake life.
How to Use the EV vs Gas Comparison Tool
Compare the Total Cost of Ownership (TCO) between an Electric Vehicle and a Gasoline vehicle over a 5-year period.
- Enter your average annual driving mileage.
- Input local gas prices and the fuel efficiency (MPG) of the gas car.
- Enter your residential electricity rate and the EV's efficiency (miles per kWh).
- Enter the sticker price for both vehicles.
- Include any EV tax credits or state incentives.
- Estimate annual maintenance costs for both (typically lower for EVs).
- Review the 5-year total cost comparison and your break-even mileage.
Comparison Formulas
We compare upfront capital costs plus recurring operational expenses (fuel + maintenance) over time.
Annual Fuel Cost (Gas)
Total annual spending on gasoline.
Example:
Input: 12,000 miles, 25 MPG, $3.50/gal
Calculation: (12,000 / 25) × 3.50
Result: $1,680/year
Annual Fuel Cost (EV)
Total annual spending on charging at home.
Example:
Input: 12,000 miles, 3.5 mi/kWh, $0.15/kWh
Calculation: (12,000 / 3.5) × 0.15
Result: $514/year
Vehicle Buying Scenarios
This tool helps buyers decide if the higher upfront cost of an EV is justified by operational savings.
Commuter Analysis
High-mileage drivers typically see much faster paybacks for EVs.
Example: Compare savings for a 20,000 mile/year commute vs. 5,000 mile/year usage
Incentive Impact
Calculate how a $7,500 tax credit changes the financial math.
Example: See if an EV becomes cheaper than a comparable gas car instantly after incentives
Buying an EV? Keep these in mind:
Tips
- Home charging is almost always cheaper than public DC fast charging.
- Check with your utility for 'Time-of-Use' rates that offer cheaper electricity at night.
- EVs have significantly lower maintenance: no oil changes, spark plugs, or smog checks.
- Regenerative braking saves on brake pad wear, further reducing maintenance costs.
- Consider the range you actually need daily vs. occasional long trips.