EV Cost Calculator

Compare the total cost of owning an electric vehicle vs a gasoline car. Factor in fuel, maintenance, purchase price, and incentives.

Electric vehicles typically cost more upfront but significantly less to fuel and maintain over time. This calculator compares the true 5-year total cost of ownership for an EV vs a comparable gasoline vehicle.

EV vs gas: where the savings come from

  • Fuel: EVs cost roughly $0.03–$0.05/mile vs $0.10–$0.15/mile for gas (at US avg prices)
  • Maintenance: no oil changes, fewer brake replacements (regen braking), simpler drivetrain
  • Federal tax credit: up to $7,500 for new EVs meeting IRS income and price limits (2024)

EV ownership costs to include

  • Higher purchase price (offset by federal/state credits)
  • Home charger installation: $500–$2,000 (Level 2 charger)
  • Electricity: ~$0.04–$0.05/mile depending on local rates
  • Battery replacement risk (typically 8–10 year warranty)

Related Calculators