Electric vs Gas Car Cost Calculator
5-Year Total Cost of Ownership Comparison
Disclaimer: Calculations are estimates based on average data. Actual costs may vary based on location, driving habits, and market conditions.
Electric Vehicle (EV)
Gas Vehicle
5-Year Cost Comparison
Electric Vehicle
Gas Vehicle
Total Cost Comparison
Break-Even Analysis
Environmental Impact
Understanding EV vs Gas Vehicle Costs
Our Electric vs Gas Car Cost Calculator provides a comprehensive comparison of total ownership costs over time. While electric vehicles often have higher upfront costs, they typically offer significant savings in fuel and maintenance that can make them more economical in the long run.
Key Cost Factors in Vehicle Ownership
- Purchase Price: EVs generally cost more upfront but qualify for tax credits
- Fuel Costs: Electricity is cheaper than gasoline per mile
- Maintenance: EVs have fewer moving parts (no oil changes, etc.)
- Depreciation: Both vehicle types depreciate, but rates vary by model
- Incentives: Tax credits and rebates can significantly reduce EV costs
How to Use This Calculator
1. Select Vehicle Type: Choose from presets or enter custom values
2. Enter Vehicle Details: Provide pricing, efficiency, and usage information
3. Adjust Assumptions: Modify maintenance costs, resale values, etc.
4. Compare Results: See detailed 5-year cost breakdowns
Frequently Asked Questions
How much cheaper is electricity than gasoline?
On average, electricity costs about 50-70% less than gasoline per mile. For example:
- Gas at $3.50/gallon for 30 MPG = $0.117/mile
- Electricity at $0.15/kWh for 3 miles/kWh = $0.05/mile
Do electric cars really require less maintenance?
Yes, EVs typically have 30-50% lower maintenance costs because they:
- Don't need oil changes
- Have fewer moving parts to wear out
- Use regenerative braking that reduces brake wear
- Don't have complex transmissions
How do tax credits work for electric vehicles?
In the U.S., new EVs may qualify for a federal tax credit up to $7,500, plus potential state incentives. These directly reduce your tax liability. Some states offer additional rebates up to $5,000. Always check current incentives as they change frequently.
How long until an EV becomes cheaper than a gas car?
The "break-even point" depends on:
- Price difference between the vehicles
- Available incentives
- Your annual mileage
- Local fuel and electricity prices
Do electric cars hold their value as well as gas cars?
EV depreciation rates are improving as the technology matures. Currently:
- Average 5-year depreciation: 50-60% (similar to luxury vehicles)
- Tesla models tend to depreciate less (40-50%)
- Battery technology improvements may affect future resale values