EV vs Gas Car Cost Calculator
Compare total ownership costs of electric vehicles versus gas cars over 10 years including purchase price, fuel, maintenance, insurance, and incentives
Vehicle Comparison Inputs
Cost Comparison Results
What is an EV vs Gas Car Cost Calculator?
An EV vs Gas Car Cost Calculator provides comprehensive total cost of ownership (TCO) comparison between electric vehicles and traditional gasoline-powered cars over the entire ownership period. It analyzes all major expenses including purchase price, fuel costs, maintenance, insurance, tax credits, and depreciation to determine which vehicle type offers better long-term value.
This calculator evaluates:
- Upfront costs - Purchase price minus federal and state incentives
- Energy costs - Electricity charging vs gasoline fuel expenses
- Maintenance costs - Service, repairs, and replacement parts
- Insurance premiums - Comparative coverage costs
- Depreciation - Resale value after ownership period
To estimate your home energy costs including EV charging infrastructure, use our Home Energy Audit Calculator to analyze total household electricity consumption and plan for EV charging capacity.
For calculating solar panel installation to offset EV charging costs, try our Solar Panel Savings Calculator to determine if renewable energy can power your electric vehicle economically.
To compare energy-efficient appliances alongside your EV purchase, use our Energy Star Appliance Savings Calculator for comprehensive household efficiency planning.
How EV vs Gas Calculator Works
The calculator uses comprehensive TCO formulas:
= (kWh per 100 mi ÷ 100) × Electricity Rate ($/kWh)
= Gas Price per Gallon ÷ MPG
= Net Purchase Price + (Fuel Cost/Mile × Annual Miles × Years) + (Annual Maintenance × Years)
= (EV Price - Gas Price - Tax Credit) ÷ Annual Fuel & Maintenance Savings
The calculator accounts for federal tax credits up to $7,500 for new EVs and $4,000 for used EVs, significantly reducing effective purchase price.
Key EV Cost Concepts
Charging Costs
Home charging ($0.04-0.06/mile) is 60-70% cheaper than gasoline. Public fast charging ($0.10-0.15/mile) matches gas prices but is used infrequently.
Maintenance Savings
EVs eliminate oil changes, transmission service, spark plugs, and exhaust systems. Brake pads last 2-3x longer due to regenerative braking, saving $400-600 annually.
Tax Incentives
Federal tax credit offers up to $7,500 for qualifying new EVs. Many states add $1,000-5,000 rebates. Check fueleconomy.gov for current eligibility requirements.
Battery Longevity
Modern EV batteries retain 80% capacity after 100,000-200,000 miles. Warranty coverage typically 8 years/100,000 miles. Replacement costs dropped 90% since 2010.
How to Use This Calculator
Enter Vehicle Prices
Input MSRP for comparable EV and gas vehicles, then add available tax credits/rebates
Specify Efficiency
Enter EV efficiency (kWh/100 mi) and gas vehicle MPG from EPA ratings
Input Energy Costs
Enter local electricity rate (check utility bill) and average gas price per gallon
Set Driving Habits
Estimate annual mileage and ownership period (5-15 years typical)
Analyze Results
Review total cost breakdown, payback period, and cost per mile for informed decision-making
Benefits of EV Cost Comparison
- • Informed Decisions: Data-driven vehicle purchase decisions based on total ownership costs, not just sticker price.
- • Long-term Savings: EVs typically save $8,000-12,000 over 10 years despite higher upfront costs through reduced fuel and maintenance expenses.
- • Environmental Impact: Zero tailpipe emissions reduce carbon footprint by 50-70% compared to gas vehicles, even accounting for electricity generation.
- • Incentive Optimization: Identify maximum federal and state tax credits to minimize effective purchase price.
- • Budget Planning: Accurate cost projections help with financing decisions and budget allocation for vehicle ownership.
Factors That Affect EV vs Gas Costs
1. Annual Driving Distance
Higher mileage (15,000+ miles/year) increases EV savings advantage. Fuel cost savings accumulate faster, reducing payback period by 1-2 years.
2. Local Electricity Rates
Electricity costs vary by state ($0.08-0.35/kWh). Time-of-use rates offer 50-70% lower overnight charging costs. Solar panels eliminate charging costs entirely.
3. Vehicle Selection
EV efficiency varies significantly (25-45 kWh/100 mi). Larger vehicles use more energy. Choose efficient models to maximize cost savings and range.
4. Charging Infrastructure
Home Level 2 charger installation costs $500-2,000 but provides cheapest charging. Public fast charging costs 2-3x more but rarely needed for daily driving.
Frequently Asked Questions
Are electric vehicles really cheaper than gas cars?
Over the vehicle's lifetime, EVs are typically cheaper despite higher upfront costs. Lower fuel costs ($500-700/year vs $1,500-2,500/year) and reduced maintenance ($800/year vs $1,200/year) offset the initial price premium within 5-7 years.
How much does it cost to charge an electric vehicle?
Charging costs average $0.04-0.06 per mile for home charging (at $0.13/kWh electricity rate), compared to $0.10-0.15 per mile for gasoline vehicles. Annual charging costs typically range from $500-700 for 12,000 miles.
What federal tax credits are available for electric vehicles?
The federal EV tax credit offers up to $7,500 for new electric vehicles meeting specific requirements (MSRP limits, battery capacity, domestic assembly). Used EVs qualify for up to $4,000. Check IRS guidelines for current eligibility.
How long do electric vehicle batteries last?
Modern EV batteries typically last 10-20 years or 100,000-200,000 miles before degrading to 80% capacity. Most manufacturers offer 8-year/100,000-mile battery warranties. Replacement costs have dropped significantly, now averaging $5,000-7,000.
Do electric vehicles have lower maintenance costs?
Yes, EVs have significantly lower maintenance costs ($800/year vs $1,200/year for gas cars). No oil changes, fewer brake repairs (regenerative braking), no transmission service, and simpler drivetrains reduce ongoing expenses by 30-40%.