EV vs Gas Vehicle Cost Calculator

Total Cost of Ownership (TCO) is the complete cost of owning and operating a vehicle over a period of time - typically 5 years. It includes the purchase price (minus incentives), loan payments, fuel or charging costs, maintenance, repairs, insurance, and depreciation. Our EV vs Gas Vehicle Cost Calculator compares the TCO of an electric vehicle against a comparable gas-powered vehicle, helping you make an informed purchase decision based on your local energy costs, driving habits, and available tax incentives.

1. 1. Enter Vehicle & Loan Details: Input the purchase price of both vehicles (EV and gas), your down payment, loan APR, and loan term. Enter any applicable EV tax credits or incentives (currently up to $7,500 federal, plus possible state incentives) to see the effective purchase price difference between the two vehicles.
2. 2. Add Driving & Energy Data: Enter your annual miles driven, EV efficiency (miles per kWh, typically 3-4 mi/kWh), local electricity rate ($/kWh), gas vehicle MPG, local gas price ($/gallon), and estimated annual maintenance costs for both vehicles (EVs typically cost 40-50% less to maintain due to fewer moving parts and no oil changes).
3. 3. Review the Full Comparison: The calculator shows a winner banner indicating which vehicle is cheaper, break-even analysis (how many months to recoup any EV price premium), side-by-side cost comparison charts for fuel/charging, maintenance, and total annual costs, 5-year total cost of ownership comparison, monthly breakdown for both vehicles, and environmental impact with CO₂ emissions comparison.

• Vehicle Price & Tax Credits:EVs often have a higher upfront price ($40K-$60K vs $30K-$45K for comparable gas models), but federal tax credits of up to $7,500 (and additional state incentives like CA's $2,000 CVRP) can significantly reduce the price gap. Some EVs now qualify for the full $7,500 credit.
• Fuel vs Electricity Costs: Charging an EV typically costs 40-70% less per mile than fueling a gas vehicle. At $0.14/kWh, an EV getting 3.5 mi/kWh costs ~$0.04/mile. A 30 MPG gas vehicle at $3.50/gallon costs ~$0.117/mile - nearly 3x more per mile. The savings are even larger with home solar charging.
• Maintenance Costs: EVs have 40-50% lower maintenance costs than gas vehicles because they have fewer moving parts, no oil changes, no timing belts, no exhaust systems, and regenerative braking extends brake life. Typical annual EV maintenance is $300-$500 vs $600-$1,000 for gas vehicles.
• Annual Mileage: The more you drive, the more an EV saves on fuel and maintenance. At 12,000 miles/year, the EV fuel savings might be $800-$1,200/year. At 20,000 miles/year, the savings increase to $1,300-$2,000/year, making the break-even point much shorter for high-mileage drivers.
• Break-Even Point:This is the number of months (or years) it takes for the EV's lower running costs to offset any higher purchase price. With the $7,500 tax credit, many EV comparisons show break-even within 2-4 years. Without the credit, the break-even may extend to 5-8 years or more.

The EV vs Gas Vehicle Cost Calculator is 100% free with no signup required. All calculations are performed locally in your browser - your vehicle prices, loan details, and driving data never leave your device. There are no file size limits or usage caps.

Important: This calculator provides estimates based on the values you enter. Actual costs vary based on driving conditions (highway vs city, weather), charging method (home Level 2 vs public DC fast charging), gas price fluctuations, electricity rate changes, insurance costs, vehicle depreciation, and individual driving habits. Use these estimates as a planning tool - consult current dealer pricing, local utility rates, and tax professional advice for purchase decisions. CO₂ estimates use US average grid emissions factors; actual emissions vary by region.