EV vs Gas Cost Calculator
Compare electric vehicle vs gas car total cost of ownership including purchase price, fuel, maintenance, and insurance over time.
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Gas Vehicle
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Last updated: January 2026
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Frequently Asked Questions
What costs should I compare between EV and gas cars?
Compare total cost of ownership (TCO): Purchase price (after tax credits/incentives). Fuel costs (electricity vs gasoline per mile). Maintenance (EVs: ~$0.03/mile vs gas: ~$0.06/mile). Insurance (often similar, sometimes higher for EVs). Depreciation (EVs improving but historically faster). Registration fees (some states add EV fees). Home charging equipment ($500-2,000 for Level 2). Battery replacement (rare, but $5,000-15,000 if needed).
Are EVs really cheaper to operate than gas cars?
Usually yes. Fuel savings: Electricity costs roughly $0.03-0.05 per mile vs $0.10-0.15 for gas. Maintenance savings: No oil changes, fewer brake replacements (regenerative braking), no transmission service. Example: 12,000 miles/year saves ~$800-1,200 in fuel plus ~$300-500 in maintenance annually. However, higher insurance and potential home charger costs offset some savings. Over 5+ years, EVs typically save $3,000-10,000 total.
What government incentives are available for EVs?
Federal tax credit (US): Up to $7,500 for new EVs, $4,000 for used EVs meeting requirements (income and price caps apply). State incentives: Vary widely—California offers up to $7,500 additional, Colorado $5,000, some states offer nothing. Utility rebates: Many utilities offer $250-1,000 for EV purchase or charger installation. HOV lane access and reduced registration in some states. Check fueleconomy.gov or your state's energy office for current incentives.
How long do EV batteries last and what's replacement cost?
Modern EV batteries typically last 10-20 years or 200,000+ miles before significant degradation. Most EVs retain 70-80% capacity after 200,000 miles. Warranties: Federal law requires 8 years/100,000 miles minimum; California mandates 10 years/150,000 miles. Battery costs are dropping: Currently $5,000-15,000 for replacement, down from $30,000+ a decade ago. Many EVs will outlast the original owner without needing battery replacement.
When does an EV break even compared to a gas car?
Break-even typically occurs in 3-7 years depending on: Purchase price difference (smaller gap = faster break-even). Annual mileage (more driving = faster savings). Local gas and electricity prices. Available incentives (tax credits dramatically speed break-even). High-mileage drivers (15,000+ miles/year) break even faster. With $7,500 federal credit, many EVs break even in 3-4 years. Without incentives, 6-8 years is typical. After break-even, EVs save $1,000-2,000+ annually.