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How to Compare EV vs Gas Costs
Deciding between an electric vehicle and a gas car isn't just about the sticker price. The true cost of owning a car includes fuel, maintenance, insurance, depreciation, and any available incentives. Our free EV vs gas calculator helps you compare all these costs side by side, personalized to your driving habits and local prices.
What's Included in Total Cost of Ownership
Total cost of ownership (TCO) goes beyond the purchase price to include every dollar you'll spend over the time you own the vehicle:
- Purchase price — the sticker price minus any incentives, rebates, or tax credits
- Fuel or electricity costs — based on your annual mileage, local gas prices, and electricity rates
- Maintenance — oil changes, brake pads, transmission service (gas) vs. tire rotations, cabin filters (EV)
- Insurance — premiums vary by vehicle type, though the gap is narrowing
- Depreciation — how much value the car loses over time
Why Fuel Costs Matter Most
For most drivers, the biggest ongoing cost difference between EVs and gas cars is fuel. Electricity is significantly cheaper per mile than gasoline in most states. At the national average of $0.16/kWh, driving an efficient EV costs about $0.04 per mile. Compare that to a 30 MPG gas car at $3.20/gallon, which costs about $0.11 per mile. Over 12,000 miles per year, that's roughly $800 in annual savings — and it compounds over time.
The Breakeven Point
Electric vehicles typically cost more upfront than comparable gas cars. The breakeven point is when your cumulative savings on fuel and maintenance offset that higher purchase price. For many buyers, this happens between 2 and 5 years. Our calculator shows you exactly when — or if — you'll break even based on your specific situation.
Keep in mind: breakeven isn't guaranteed. If you drive very few miles, have cheap gas, or expensive electricity, a gas car may be the more economical choice. This calculator is neutral — it shows you the honest numbers either way.
Frequently Asked Questions
Is this EV vs gas calculator really free?
Yes, completely free. No sign-up, no email, no paywall. All calculations happen right in your browser — your data never leaves your computer.
How accurate are the cost estimates?
The calculator uses real-world data from the EPA (vehicle efficiency), EIA (energy prices), and AAA (fuel prices). Default values are national and state averages. For the most accurate results, enter your actual gas price, electricity rate, and annual mileage. Maintenance, insurance, and depreciation use industry averages that may vary by specific model and driving conditions.
Are electric cars really cheaper to own?
It depends on your situation. For drivers who put on average or above-average miles and charge at home, EVs are typically cheaper over 5+ years despite the higher purchase price. But if you drive very few miles, have access to cheap gas, or face expensive electricity rates, a gas car can be more economical. That's exactly why we built this calculator — the answer is different for everyone.
What about charging at home vs. public charging stations?
Home charging (Level 2) typically costs $0.12–$0.18 per kWh, depending on your electric utility rate. Public fast charging (DC fast charge) usually costs $0.30–$0.50 per kWh. The more you charge at home, the lower your electricity costs. Our calculator lets you set the home vs. public charging split with a slider to reflect your actual usage.
Do EVs cost more to insure?
Historically, EVs cost 15–20% more to insure due to higher repair costs and more expensive parts. However, as of 2026, the gap has nearly closed. National averages show EV insurance at roughly $1,600/year vs. $1,550/year for gas cars. Insurance costs vary significantly by model, location, and driving record. You can customize insurance costs in the Advanced Options.
What happened to the federal EV tax credit?
The federal EV tax credit (up to $7,500 for new EVs) expired on September 30, 2025 and is not currently available for new purchases. However, many states still offer their own EV incentives, including rebates, tax credits, and sales tax exemptions. Our calculator automatically fills in available state incentives based on your location.
How do EV maintenance costs compare to gas cars?
EVs have significantly lower maintenance costs because they have fewer moving parts. No oil changes, no transmission fluid, no spark plugs, and regenerative braking means brake pads last much longer. On average, EV maintenance costs about $600/year compared to $1,200/year for gas cars. EVs still need tire rotations, cabin air filters, and coolant checks, but the overall maintenance burden is roughly half.
What about battery replacement costs?
Modern EV batteries are designed to last 200,000+ miles and most come with 8-year/100,000-mile warranties. Battery degradation has improved dramatically — most EVs retain 85–90% capacity after 100,000 miles. Replacement costs have dropped to $6,000–$12,000 (from $20,000+ a few years ago), but most owners will never need a replacement during typical ownership. This calculator does not include battery replacement as a cost because it's an uncommon event within normal ownership periods.
Can I compare specific car models?
Yes! Use the vehicle selection dropdowns to choose from ~30 popular EV and gas models with real EPA efficiency ratings and current MSRP data. You can also use the "Popular Comparisons" buttons at the top for common matchups like Tesla Model 3 vs. Toyota Camry. If your car isn't listed, select "Custom" and enter the specs manually.
Do EVs depreciate faster than gas cars?
On average, yes. EVs have historically depreciated about 12% per year compared to 9% for gas cars over the first 5 years. However, this varies widely by model — popular models like the Tesla Model 3 and Model Y hold their value better than average, while some less popular EVs depreciate faster. The gap is also narrowing as EV technology matures and consumer confidence grows. You can adjust depreciation rates in the Advanced Options.