Electric vs Gas Car Cost Calculator
Compare the 5-year total ownership cost of an electric vehicle (EV) and a comparable gasoline vehicle. Enter purchase price, fuel costs, annual maintenance, and annual miles for each vehicle. The calculator shows 5-year fuel cost, maintenance cost, and total cost for both vehicles side by side, so you can see the break-even point.
Electric Vehicle
Gas Vehicle
EV vs gas cost formula
EV fuel cost/mile = Electricity_rate / Efficiency_miles_per_kWh
Gas fuel cost/mile = Gas_price / MPG
5-year fuel = Fuel_cost_per_mile x Annual_miles x 5
5-year total = (Purchase - Tax_credit) + (Annual_maintenance x 5) + 5yr_fuel
This calculator does not model depreciation differences between EV and gas vehicles, which vary widely by model. For a complete analysis, add estimated resale values for both vehicles using the Vehicle Depreciation Per Mile Calculator.
Key cost differences between EVs and gas vehicles
- EV purchase prices are typically higher, but federal and state incentives can reduce the effective price significantly.
- EV fuel cost per mile is approximately 50 to 60% lower than gasoline at US average prices (DOE Alternative Fuels Data Center).
- EV maintenance is lower: no oil changes, longer brake life due to regenerative braking, no exhaust system, no timing belt.
- EV insurance can be slightly higher due to repair complexity; this calculator uses equal insurance costs (adjust maintenance to account for this).
- Home charger installation (Level 2, 240V) costs $500 to $1,500 and is not included in the calculator; add it to the EV purchase price if applicable.
Electric vs gas cost calculator: frequently asked questions
Are electric vehicles cheaper to run than gas vehicles?
The US Department of Energy's (DOE) Vehicle Technologies Office finds that electricity is cheaper per mile than gasoline in most US regions. On average, driving an EV costs about half as much per mile in fuel as a comparable gas vehicle at average US electricity and gasoline prices. However, the higher upfront purchase price of most EVs means the break-even point depends on your driving volume.
How much cheaper is EV maintenance?
A DOE study (Transportation Cost and Benefit Analysis) found EVs have 30 to 40% lower maintenance costs over 200,000 miles compared to internal combustion engine vehicles. EVs have no oil changes, fewer brake replacements (due to regenerative braking), no transmission service, and no spark plugs. The main EV-specific costs are tire replacement (EVs are heavier) and eventual battery replacement.
What federal tax credit is available for electric vehicles?
Under the Inflation Reduction Act (IRA, 26 U.S.C. 30D), new EVs may qualify for a federal clean vehicle tax credit of up to $7,500. The credit is subject to income limits, vehicle MSRP caps, and North American assembly requirements. Used EVs may qualify for a credit of up to $4,000 under 26 U.S.C. 25E. Credit amounts and eligibility change frequently; check fueleconomy.gov for current information.
How do I calculate EV fuel cost per mile?
EV fuel cost per mile = electricity rate ($/kWh) / vehicle efficiency (miles per kWh). For example, at $0.15/kWh and 4 miles per kWh, the cost is $0.0375 per mile. The EPA publishes MPGe (miles per gallon equivalent) ratings for EVs at fueleconomy.gov, and also provides kWh per 100 miles, which you can use to calculate your exact cost.
Does charging at home vs public chargers affect EV cost?
Yes, significantly. Home charging (Level 2) at average US residential rates of around $0.13 to $0.17/kWh is far cheaper than DC fast charging, which can cost $0.25 to $0.50/kWh or more. Regular use of DC fast chargers can erode much of the fuel-cost advantage of an EV. This calculator uses a single electricity rate; enter your blended rate if you use a mix of home and public charging.
Official sources
- DOE Alternative Fuels Data Center: afdc.energy.gov.
- EPA Fuel Economy for EVs: fueleconomy.gov side-by-side comparison.
- IRS EV Tax Credit (26 U.S.C. 30D): irs.gov clean vehicle credit.
Reviewed by the CalculatorHub team, edited by James Graham, 14 June 2026. See our methodology.