EV vs Gas Car Total Cost Calculator
Compare EV vs gas car true cost of ownership over any time horizon · including $7,500 federal tax credit, fuel savings, lower EV…
EV vs Gas Car Cost Calculator
Total cost of ownership comparison over your ownership period · fuel, maintenance, incentives, and resale.
EV vs Gas Calculator: Fuel Savings, Charging Costs & 5-Year TCO
Evaluating an electric vehicle against a traditional internal combustion engine car requires analyzing total lifecycle costs rather than sticker price alone. Between point-of-sale federal clean vehicle tax credits, home charging tariffs, scheduled maintenance reductions, and fuel savings, electric vehicles frequently deliver lower Total Cost of Ownership (TCO) across typical ownership horizons.
Total Cost of Ownership Modeling: 5-Year Ownership (75,000 Miles Total)
The table below models a typical comparison between a $35,000 gas crossover (28 MPG) and a $42,000 electric crossover (3.3 mi/kWh) utilizing home charging.
| Ownership Cost Element | Gasoline Crossover (28 MPG) | Electric Vehicle (3.3 mi/kWh) | 5-Year Financial Variance |
|---|---|---|---|
| Vehicle Purchase Price | $35,000 | $42,000 | EV is $7,000 higher upfront |
| Federal Clean Vehicle Credit | $0 | −$7,500 (Point of Sale) | EV saves $7,500 immediately |
| Level 2 Home Charger + Install | $0 | +$1,200 (After 30% tax credit) | Gas saves $1,200 |
| Fuel / Electricity Cost (75k Miles) | $9,375 (@ $3.50/gal) | $3,636 (@ $0.16/kWh) | EV saves $5,739 in fuel! |
| Scheduled Maintenance & Brakes | $4,800 (Oil, plugs, pads, belts) | $1,950 (Tires, cabin filter, wipers) | EV saves $2,850 in service |
| Comprehensive Auto Insurance | $6,200 | $7,100 (Higher EV repair cost) | Gas saves $900 |
| Estimated 5-Year Resale Value | −$17,500 (50% retention) | −$19,000 (45% retention) | EV preserves $1,500 more value |
| Net 5-Year Total Cost of Ownership | $37,875 | $29,386 | EV saves $8,489 overall! |
When Does a Gas Car Still Make Better Financial Sense?
- Renters Without Dedicated Charging: If you live in an apartment without overnight charging and must rely entirely on commercial DC fast charging ($0.38 to $0.48/kWh), your electric fuel cost roughly triples, erasing operating savings.
- Ultra-Low Annual Mileage: If you drive less than 5,000 miles per year, fuel savings are too small to offset the higher upfront purchase price or insurance premiums of a new EV.
- Heavy Cold-Climate Towing: Towing heavy travel trailers or boats in winter can reduce an EV’s driving range by 45% to 55%, necessitating frequent fast-charging stops.
How to Use This Calculator
EV Cost per Mile = Electricity Tariff ($/kWh) ÷ EV Efficiency (mi/kWh) | Gas Cost per Mile = Gas Price ($/gal) ÷ Vehicle Fuel Economy (MPG) | Annual Fuel Savings = Annual Mileage × (Gas Cost/Mile − EV Cost/Mile)
- Input the contract purchase price of both the internal combustion (gasoline) vehicle and the battery electric vehicle (EV), factoring in applicable federal and state clean vehicle tax credits.
- Enter your projected annual driving distance in miles or kilometers (e.g., 12,000 miles/year).
- Specify the local gasoline pump price ($/gallon) and the vehicle's combined EPA fuel economy rating (e.g., 28 MPG).
- Enter your home residential electricity rate ($/kWh, e.g., $0.15/kWh) and the EV's energy efficiency (typically 3.0 to 4.0 miles per kWh).
- Review your annual fuel expenditure comparison, 5-year and 10-year total cost of ownership (TCO), and exact investment break-even mileage.