EV vs Gas Total Cost of Ownership Calculator
Compare the multi-year running cost of an electric car against a gasoline car, factoring in fuel vs electricity, maintenance savings, and the EV's higher purchase price.
Last updated: May 2026
Compare with similar
About this calculator
Total cost of ownership compares everything you spend over the years you keep the car. Gasoline fuel cost is annualMiles / gasMpg x gasPrice x yearsOwned. EV charging cost is annualMiles / evEfficiency x electricityRate x yearsOwned, where evEfficiency is miles per kWh. EVs also tend to need less maintenance (no oil changes, less brake wear), captured by annualMaintenanceSavings x yearsOwned. Finally the EV's higher sticker price is subtracted as evPricePremium. The net result is gas fuel cost minus EV charging cost, plus maintenance savings, minus the price premium. A positive number means the EV is cheaper overall across the period; a negative number means the gas car wins on total cost.
How to use
Take 12,000 miles a year for 7 years. A 30 MPG gas car at $3.50/gal costs 12000 / 30 x 3.50 = $1,400 a year, or $9,800 over 7 years. An EV at 3.5 mi/kWh and $0.15/kWh costs 12000 / 3.5 x 0.15 = about $514 a year, or roughly $3,600 over 7 years. Add $600/yr maintenance savings ($4,200) and subtract an $8,000 price premium: 9,800 - 3,600 + 4,200 - 8,000 = about $2,400 in net EV savings. Adjust the inputs for your own driving and local prices.
Frequently asked questions
Is an electric car actually cheaper than gas over the long run?
It depends on how much you drive, your local electricity and gas prices, and how big the EV price premium is. High annual mileage, cheap electricity, and expensive gas all favor the EV because the per-mile fuel savings accumulate. Low mileage or a large upfront premium can tip the balance back toward gasoline. This calculator lets you test your own numbers instead of relying on a one-size-fits-all claim.
How many years does it take for an EV to break even versus a gas car?
The break-even point is when accumulated fuel and maintenance savings equal the EV price premium. With typical numbers (around $900 a year in combined savings against an $8,000 premium) it lands near 8 to 9 years, but heavy drivers can break even in 4 to 5 years. Set the years of ownership to different values and watch when the net savings crosses from negative to positive.
What electricity rate should I use for EV charging cost calculations?
Use your home's marginal residential rate, which in the US commonly ranges from about $0.12 to $0.25 per kWh, or your utility's special EV/off-peak rate if you charge overnight. If you rely heavily on public DC fast charging, your effective rate can be much higher ($0.30 to $0.50+ per kWh), so use a blended figure that reflects your real charging mix for an accurate comparison.