Compare the total cost of ownership between an electric vehicle and a gasoline-powered car including purchase price, fuel costs, maintenance, and government incentives to determine which option saves you more money over time.
miles/yr
years
⚡ Electric Vehicle
$
$
mi/kWh
$/kWh
⚛ Gasoline Vehicle
$
MPG
$
$
Enter your details to see the comparison
Annual Fuel Cost — EV$0
Annual Fuel Cost — Gas$0
Annual Fuel Savings (EV)$0
5-Year Fuel + Maintenance Savings$0
Total Cost of Ownership (EV)$0
Total Cost of Ownership (Gas)$0
Break-Even PointN/A
About EV vs Gas Cost Comparison Calculator
One of the biggest questions car buyers face today is whether an electric vehicle will save them money compared to a traditional gasoline-powered car. While EVs have higher upfront prices, they offer significantly lower fuel and maintenance costs that can offset the price premium over time. According to the U.S. Department of Energy, the average EV owner saves $600-1,200 per year on fuel alone compared to driving a comparable gas car, and maintenance costs are 40-60% lower due to fewer moving parts and no oil changes. However, actual savings depend heavily on local electricity rates, gas prices, driving habits, vehicle efficiency, and available government incentives. This EV vs gas comparison calculator provides a comprehensive total cost of ownership analysis to help you make an informed decision based on your specific situation.
How to Use This Calculator
Start by entering your annual miles driven — this is one of the most important factors since the more you drive, the more the EV's lower fuel costs benefit you. Set the expected years of ownership because the financial advantage of an EV grows over time as fuel savings accumulate. Under the Electric Vehicle section, enter the EV purchase price and any government incentives you qualify for — the federal tax credit is up to $7,500 for eligible vehicles, and many states offer additional rebates of $1,000-5,000. Enter the EV's efficiency in miles per kWh — the Tesla Model 3 achieves about 4.0 mi/kWh, while larger EVs like the Ford F-150 Lightning get around 2.0 mi/kWh. Input your electricity rate in cents per kWh, which you can find on your utility bill. Under the Gasoline Vehicle section, enter the purchase price of a comparable gas car, its combined MPG rating, your local gas price, and the estimated annual maintenance savings an EV provides over a gas car. The calculator compares both vehicles across all cost categories to determine the total cost of ownership and the break-even point.
How to Interpret Your Results
For a typical US driver doing 12,000 miles per year with a $45,000 EV (net $37,500 after $7,500 tax credit) achieving 3.5 mi/kWh at $0.13/kWh, compared to a $30,000 gas car getting 30 MPG at $3.50/gal over 5 years: the EV owner would pay approximately $445 per year in electricity, while the gas owner would pay $1,400 per year in fuel — saving $955 annually. With $400 per year in maintenance savings, the 5-year total savings reach $6,775. However, the EV costs $7,500 more upfront, so the total cost of ownership after 5 years favors the gas car by roughly $725. The break-even point would be approximately 5.5 years. If gas prices rise to $5/gal or the driver does 18,000 miles per year, the break-even drops to 3-4 years. For European drivers with higher fuel prices ($6-8/gal) but also higher electricity rates ($0.20-0.30/kWh), the calculation shifts differently. These examples illustrate why your specific inputs matter — there is no one-size-fits-all answer to the EV vs gas cost question.
When to Use This Calculator
Use this calculator when shopping for a new car and deciding between an EV and a gas-powered model, as it helps quantify the long-term financial difference beyond the sticker price. Use it before making a home charging investment — knowing your projected fuel savings helps determine if installing a Level 2 charger ($500-2,000 installed) is worth it. Use it if you are a high-mileage driver who commutes long distances or uses their vehicle for ridesharing or delivery services, where fuel savings multiply quickly. Use it when evaluating whether to replace your current gas car with an EV or hold onto it longer. Use it to compare specific models against each other — for example, comparing a Tesla Model 3 against a Honda Accord or a Ford Mustang Mach-E against a Toyota RAV4. The calculator works with any currency and any region, making it useful for buyers worldwide, though fuel and electricity price defaults are based on US averages.
For most drivers, an electric vehicle is cheaper to own than a comparable gas car over a 5-7 year period, but the answer depends heavily on several factors. According to the Department of Energy, the average EV owner saves $600-1,200 annually on fuel and $300-500 annually on maintenance, totaling $900-1,700 per year in operating savings. However, EVs typically cost $5,000-15,000 more upfront than comparable gas vehicles. After factoring in the federal tax credit of up to $7,500 and state incentives, the price gap narrows to $2,000-7,500. At 12,000 miles per year with $3.50/gal gas and $0.13/kWh electricity, most EV buyers break even within 4-6 years. High-mileage drivers who travel 18,000+ miles per year break even in 2-4 years. In regions with expensive gas ($5+ per gallon) or cheap electricity, EVs are almost always cheaper from day one when state incentives are included. In areas with cheap gas and expensive electricity, the payback period may exceed 8 years, making a hybrid a better option.
What government incentives are available for buying an EV?
The federal government offers a tax credit of up to $7,500 for new EV purchases under the Inflation Reduction Act, though the exact amount depends on battery mineral and component sourcing requirements. Vehicles must be assembled in North America and have a manufacturer's suggested retail price (MSRP) below $80,000 for SUVs, vans, and trucks, or $55,000 for sedans. Many states offer additional incentives: California provides up to $7,500 in rebates through the Clean Vehicle Rebate Project plus up to $7,500 for income-qualified applicants through the Clean Cars 4 All program. Colorado offers up to $5,000, New York offers up to $2,000, and Texas does not offer a state rebate but allows HOV lane access. Used EVs also qualify for a federal tax credit of up to $4,000 (30% of the purchase price, up to $4,000) for vehicles under $25,000 and at least two model years old. Utility companies frequently offer additional rebates for home charger installation, time-of-use electricity rates, and annual bill credits for EV owners ranging from $50-500 per year.
How much does it cost to charge an EV vs filling a gas tank?
The cost to charge an EV is typically 50-70% less than the cost to fill a gas tank for the same driving distance. At the US average electricity rate of 13 cents per kWh, charging a Tesla Model 3 (with its 60 kWh battery providing about 240 miles of range) costs approximately $7.80 for a full charge from near-empty, or about 3.3 cents per mile. By comparison, filling a comparable gas sedan with a 14-gallon tank at $3.50 per gallon costs $49 for approximately 420 miles of range (at 30 MPG), or about 11.7 cents per mile. The savings are even more dramatic for drivers with access to off-peak electricity rates as low as 6-8 cents per kWh, which reduces EV charging costs to under 2 cents per mile. However, DC fast charging stations cost significantly more at 30-50 cents per kWh, bringing the cost to 8-14 cents per mile, which is comparable to or slightly higher than gasoline. Home charging is where the real savings are — drivers who rely exclusively on public fast charging will see much smaller fuel cost advantages.
How long does it take for an EV to pay for itself compared to a gas car?
The break-even point for an EV compared to a gas car typically ranges from 3 to 7 years depending on your driving habits, local fuel and electricity prices, the EV's purchase price premium, and available incentives. For a typical scenario — 12,000 miles per year, a $7,500 EV price premium (after incentives), $3.50/gal gas, $0.13/kWh electricity, 3.5 mi/kWh EV vs 30 MPG gas — the break-even occurs at approximately 5-6 years. For a high-mileage driver doing 20,000 miles per year with gas at $4.50/gal and off-peak electricity at $0.08/kWh, the break-even drops to just 2-3 years. For a low-mileage driver doing 8,000 miles per year with gas at $3.00/gal and standard electricity rates, the break-even could extend beyond 8-10 years, potentially exceeding the typical ownership period. This is why the calculator asks for your specific inputs — the break-even point is highly individualized. After the break-even point, the EV saves the owner $1,000-2,000 per year in combined fuel and maintenance costs for the remainder of the ownership period.
Are EVs really cheaper to maintain than gas cars?
Yes, electric vehicles are significantly cheaper to maintain than gasoline-powered cars, with most studies showing 40-60% lower maintenance costs over the vehicle's lifetime. EVs have approximately 20 moving parts in their drivetrain compared to over 2,000 in a gas car's engine and transmission. This means no oil changes (which average $50-100 every 5,000-7,500 miles), no timing belt replacements ($500-1,500), no transmission service ($200-500), no spark plugs, no fuel filters, no exhaust system, and no starter motor. Regenerative braking also extends brake pad life significantly, often to 100,000+ miles versus 30,000-50,000 miles for gas cars. Consumer Reports found that EV owners spend about $0.03 per mile on maintenance and repairs over the first 100,000 miles, compared to $0.06 per mile for gas cars — saving roughly $3,000 over that period. However, EVs do have higher tire wear due to their added weight from the battery pack, and the battery pack itself may eventually need replacement at a cost of $5,000-15,000, though most manufacturers offer 8-10 year/100,000-mile battery warranties covering significant degradation.
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