EV vs. Gas Cost Calculator
Electric vehicles usually cost more up front and less to run. This calculator adds up the whole picture: purchase price, fuel or electricity, maintenance, and insurance, over however many years you plan to keep the car, so you can see the real total cost and when (or if) an EV pays for itself.
How this is calculated
Each vehicle's total cost is: purchase price + (annual fuel + annual maintenance + annual insurance) × years owned. Fuel cost for the EV is (miles ÷ 100) × kWh per 100 miles × your electricity rate; for the gas car it's (miles ÷ MPG) × price per gallon. The break-even point is how many years of fuel and maintenance savings it takes for a pricier EV to catch up to a cheaper gas car's upfront cost. If the EV isn't more expensive to begin with, it's already ahead from day one.
The defaults are reasonable US averages, but the numbers that matter most are yours: your local electricity rate (check your utility bill), current gas prices in your area, and the specific EV and gas car you're comparing. Maintenance defaults assume an EV needs no oil changes and fewer brake replacements (regenerative braking), which is the main reason EV maintenance tends to run lower.
Worked example
Using this calculator's own defaults (a $42,000 EV vs. a $32,000 gas car, 12,000 miles/year for 5 years), here's what actually happens: the EV costs $576/year to fuel (12,000 ÷ 100 × 30 kWh × $0.16) versus $1,312.50/year for gas (12,000 ÷ 32 MPG × $3.50). That's $736.50/year saved on fuel, plus $500/year saved on maintenance, minus $100/year more for insurance, a net $1,136.50/year in running-cost savings.
But the EV costs $10,000 more upfront, and $10,000 ÷ $1,136.50/year works out to 8.8 years to break even, longer than the 5-year ownership window in this example. So with these exact numbers, the gas car actually comes out about $4,300 cheaper over 5 years. Stretch the ownership period to 9+ years, or find a smaller price gap between the two vehicles, and the EV pulls ahead. This is why the purchase-price gap and how long you keep the car matter more than the fuel savings alone. Plug in your own numbers above rather than trusting either direction by default.
Frequently asked questions
Does this include the cost of a home charger?
No, this calculator focuses on ongoing ownership costs. A Level 2 home charger installation typically runs $500–$2,000 depending on your electrical panel and installation complexity; add that to the EV's upfront cost if it applies to you.
What about EV tax credits?
The federal EV purchase tax credit ended for vehicles acquired after September 30, 2025, so it no longer applies to new 2026 purchases; see our EV tax credits guide for the details. Some state or utility incentives may still exist independently; check your specific state before assuming one applies, and subtract it from the EV purchase price above if you qualify.
Why is gas car maintenance higher by default?
Gas engines need regular oil changes, transmission service, and more frequent brake pad replacement. EVs have far fewer moving parts and use regenerative braking, which extends brake life significantly. Adjust the defaults if your specific vehicles differ.
Does resale value matter here?
Not directly: this calculator compares running costs over your ownership period, not what you'd get back at resale. If you plan to sell before the loan or your ownership horizon ends, resale value could change the picture significantly, especially since used EV values have been more volatile than used gas car values in recent years. Our lease vs. buy calculator factors in an estimated resale value if that's relevant to your decision.
What if I drive a lot more or less than 12,000 miles a year?
Adjust the "miles driven per year" field; it's the single input this calculator is most sensitive to. Higher annual mileage widens the EV's fuel-savings advantage (you're saving more per mile, more often), which shortens the break-even point. Low-mileage drivers see the opposite: fuel savings shrink, and the EV's higher purchase price becomes harder to justify on cost alone.
Where do I find my actual electricity rate and local gas price?
Your electricity rate is on your utility bill, usually listed in ¢/kWh. Look for "supply" or "generation" charges plus delivery charges for your true all-in rate. For gas prices, AAA and GasBuddy both publish current state and regional averages. Using your real numbers instead of the defaults is the single best way to make this calculator's result actually apply to you.
For the full breakdown of every cost category that goes into EV ownership, see our complete EV ownership cost guide.