EV vs Gas Cost Calculator
Compare the true 5 or 10-year cost of owning an electric vehicle vs a gas car. Includes purchase price, fuel, maintenance, insurance, and tax credits.
Settings
Electric Vehicle
4 mi/kWh · 75 kWh
Gas Vehicle
32 MPG · $5/gal
5-Year Total Cost of Ownership
EV Total (5yr)
$49,565
Gas Total (5yr)
$52,219
EV Saves
$2,654
📅 Breakeven: 4 years 2 months — after that, every mile saves money.
Annual Costs — EV
Annual Costs — Gas
🌱 By driving an EV, you avoid approximately 2.2 tons of CO₂ per year — equivalent to planting 100 trees.
How to compare EV vs gas total cost of ownership
The sticker price of an EV is almost always higher than a comparable gas car. But sticker price is only part of the story. When you add up fuel, maintenance, and insurance over 5–10 years, EVs frequently come out ahead — sometimes by thousands of dollars.
Fuel is the biggest lever. The average US driver spends $2,000–$3,000/year on gasoline. An EV doing the same miles costs $500–$800 in electricity. That $1,500/year difference adds up to $7,500 over 5 years — often enough to close the purchase price gap entirely.
Maintenance costs are genuinely lower for EVs. No oil changes, no transmission fluid, fewer brake jobs (regenerative braking does most of the work). Consumer Reports data shows EV owners spend about half what gas car owners spend on maintenance annually.
The federal tax credit changes the math significantly. A $7,500 credit on a $40,000 EV effectively makes it a $32,500 car. Combined with fuel and maintenance savings, many EVs break even within 3–4 years for average drivers.
High-mileage drivers benefit most — every extra mile driven is a mile where the EV saves money on fuel. If you drive 20,000+ miles/year, the breakeven point can drop to under 2 years.
Frequently asked questions
Is it cheaper to own an EV or a gas car?▾
Over 5 years, most EVs are cheaper to own than comparable gas cars when you factor in lower fuel and maintenance costs. The upfront price is higher, but fuel savings of $1,000–$1,500/year typically offset this within 3–6 years.
How long does it take for an EV to pay for itself?▾
The breakeven point depends on the price difference, fuel costs, and how much you drive. For a typical US driver doing 12,000 miles/year, breakeven is usually 3–6 years. High-mileage drivers break even faster.
How much cheaper is EV maintenance vs gas?▾
EV owners typically spend $400–$800/year on maintenance vs $1,200–$1,800 for gas cars. EVs have no oil changes, fewer brake replacements (regenerative braking), and simpler drivetrains.
Does the $7,500 federal EV tax credit make a big difference?▾
Yes — the $7,500 federal tax credit (for qualifying vehicles) directly reduces your net purchase price, which can cut the breakeven point by 1–2 years. Some states add additional credits on top.
What is total cost of ownership (TCO)?▾
TCO includes everything you pay to own and operate a vehicle: purchase price, fuel, maintenance, insurance, and taxes. It gives a more accurate picture than just comparing sticker prices.