The real question isn’t which car costs less to buy — it’s which one costs less to own. Compare total 5-year cost of an EV versus a gas car including fuel, maintenance, depreciation, insurance, and financing. Find your break-even year and exact cost per mile. Works for any EV and any gas car — no make or model required.
✓Verified: AAA 2025 Driving Costs, EIA 2026 Electricity Rates, EPA fueleconomy.gov kWh data — April 2026
Your Driving Habits (shared by both vehicles)
mi/yr
US average: 13,500 mi/yr
Enter annual miles.
How long you plan to keep the vehicle
⚡ Electric Vehicle (EV)
$
MSRP or negotiated price
Enter EV price.
kWh
From window sticker or fueleconomy.gov
Enter kWh/100 miles.
$
US avg: $0.16/kWh (EIA 2026)
Enter electricity rate.
Inflation Reduction Act 2026
⛽ Gas Car
$
MSRP or negotiated price
Enter gas car price.
MPG
Combined city/highway MPG
Enter MPG.
$
US avg: ~$3.45/gal (EIA 2026)
Enter gas price.
$
EV insurance ~15% higher on avg
📋 Calculate your exact monthly EV charging cost
mi/mo
US average: 1,125 mi/month
Enter monthly miles.
kWh
From window sticker or fueleconomy.gov
Enter kWh/100 miles.
%
Most EV owners: 70-85% at home
Enter home charging %.
$
Check your electricity bill
Enter home rate.
$
Typical DC fast charger: $0.35-$0.50/kWh (Tesla, EVgo, Electrify America)
Enter public rate.
📋 Find the year the EV pays for itself vs the gas car
$
EV price minus gas car price (positive = EV costs more)
Enter price difference.
$
$7,500 max for qualifying new EVs
$
Use Mode 1 to find this number
Enter annual fuel savings.
$
AAA 2025: ~$438/yr avg EV vs gas
5-Year Savings
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⚠️ Disclaimer: Cost comparisons use national averages and typical ownership assumptions. Actual costs vary significantly by location, vehicle choice, driving habits, insurance history, and local electricity and gas prices. Always get specific quotes for insurance, and check your local electricity rate and state EV incentives before making a purchase decision.
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Sources & Methodology
✓All EV vs gas cost data from AAA 2025 Driving Costs study, EIA 2026 electricity prices, EPA fueleconomy.gov efficiency data, and NRDC/Atlas Policy 7-year ownership research. All external sources cited with nofollow links per site policy.
Official EPA fuel economy database providing kWh per 100 miles for all EVs and MPGe ratings. Source of the efficiency data used as defaults in this calculator. The EPA test procedure measures energy consumption under controlled conditions; real-world efficiency is approximately 90 to 95 percent of the EPA estimate for most drivers.
Primary source for annual ownership cost components: EV maintenance $1,218/yr vs gas car $1,656/yr. Total new vehicle ownership cost averaging $11,577/yr for gas and $10,879/yr for EVs at 15,000 miles. Used for maintenance savings defaults and total ownership cost framework.
National average residential electricity price of approximately $0.16 per kWh in early 2026. Ranges from $0.10 per kWh in states like Idaho and Louisiana to $0.43 per kWh in Hawaii. Used as the default home charging rate in this calculator.
Methodology:Annual EV fuel cost = (Annual miles / 100) x kWh/100mi x electricity rateAnnual gas fuel cost = (Annual miles / MPG) x gas price per gallonAnnual fuel saving = Gas fuel cost - EV fuel costDepreciation applied: 15% yr1, 12% yr2, 10% yr3, 8% yr4-5 (industry avg)EV maintenance = AAA avg $1,218/yr scaled to mileageGas maintenance = AAA avg $1,656/yr scaled to mileageBreak-even year = Net premium / Annual total savings (fuel + maintenance)
Net EV premium = EV price - Gas price - Federal tax credit. Insurance: EV assumes 15% higher than gas car base rate. Depreciation uses industry-average annual loss rates applied to respective purchase prices.
EV vs Gas Car — The Real Financial Comparison That Most Articles Get Wrong
The sticker price dominates every EV conversation, and it shouldn’t. Yes, EVs cost more to buy — the average EV was about 20 to 40 percent more expensive than an equivalent gas car in 2025 per Edmunds data. But the purchase price is only the beginning. The question that actually determines which car saves you money is: what does it cost to own for 5 years? And on that metric, the math flips in favor of EVs faster than most people expect.
At national average energy prices, driving an EV costs roughly $0.045 per mile in fuel versus $0.123 per mile for a 28 MPG gas car at $3.45 per gallon. That’s nearly 3x cheaper per mile to drive. On a 15,000-mile year, that single difference saves $1,170 annually. Add the $438 in average annual maintenance savings from eliminating oil changes and reducing brake wear (AAA 2025), and the EV is already saving $1,608 per year before any tax credit. A $7,500 federal tax credit on a qualifying new EV cuts the effective price premium to near zero for many buyers.
EV fuel cost/mile = (kWh per 100 miles / 100) x electricity rateGas fuel cost/mile = Gas price per gallon / MPGAnnual fuel saving = (Gas $/mile - EV $/mile) x Annual miles
Example — Toyota RAV4 (28 MPG) vs Chevrolet Equinox EV (28 kWh/100mi):
Gas fuel cost: $3.45 / 28 MPG = $0.123/mile
EV fuel cost: 28 kWh x $0.16 / 100 = $0.045/mile
Annual fuel saving at 15,000 mi/yr: (0.123 - 0.045) x 15,000 = $1,170/year
Add maintenance saving (AAA 2025): +$438/year
Total annual EV savings: $1,608/year
The EV Charging Cost Formula — What $0.16/kWh Actually Means Per Mile
Nobody thinks about electricity the way they think about gas, which creates confusion about what charging actually costs. Here’s the translation: 28 kWh per 100 miles at $0.16 per kWh = $4.48 per 100 miles. That’s $0.0448 per mile. Compare that to a gas car getting 28 MPG at $3.45 per gallon — $3.45 / 28 = $0.123 per mile. The EV is charging you 4.5 cents per mile while the gas car charges 12.3 cents. Now multiply by 300 miles — a typical road trip distance — and you pay $13.44 in electricity vs $36.90 in gas. That’s a $23 difference for a single trip.
Home charging, which most EV owners do the majority of the time, keeps costs at the low end. Public DC fast charging changes this math significantly — at $0.40 per kWh, that same 100-mile cost jumps to $11.20 vs $12.30 for gas. The fuel cost advantage nearly disappears when you’re relying heavily on paid public charging. This is why the home charging percentage matters so much in any honest EV cost comparison.
Break-Even Year: When Does an EV Pay for Itself?
The break-even year is where the EV’s total ownership cost falls below the equivalent gas car’s total. It’s calculated simply: Net EV premium ÷ Annual EV savings. Net premium means the EV’s higher price minus any federal tax credit. Annual savings means fuel cost difference plus maintenance difference.
Scenario
EV Premium
Federal Credit
Net Premium
Annual Savings
Break-Even
Typical EV buyer (no credit)
$8,000
$0
$8,000
$1,608/yr
5.0 years
Full $7,500 credit
$8,000
$7,500
$500
$1,608/yr
0.3 years
High mileage (20,000 mi/yr)
$8,000
$0
$8,000
$2,144/yr
3.7 years
Low mileage (10,000 mi/yr)
$8,000
$0
$8,000
$1,072/yr
7.5 years
High electricity rate ($0.25/kWh)
$8,000
$0
$8,000
$1,137/yr
7.0 years
Low electricity rate ($0.10/kWh)
$8,000
$0
$8,000
$1,813/yr
4.4 years
EV Maintenance Savings — What You Stop Paying Entirely
The maintenance story for EVs is straightforward: they have fundamentally fewer moving parts. There’s no internal combustion engine, no multi-speed transmission with fluid, no timing belt, no exhaust system, no oxygen sensors, no spark plugs, and no catalytic converter. Every one of those items is a future maintenance cost that simply doesn’t exist with an EV. Consumer Reports found that EV owners spend about half what gas car owners spend on maintenance and repairs. That translates directly to AAA’s $438 per year average savings, or $2,190 over five years.
EVs do still require maintenance — tire rotations, tire replacements (often more frequent due to weight), wiper blades, cabin air filters, and brake fluid replacement. And the one large potential expense is battery replacement, which typically carries an 8-year/100,000-mile warranty on new EVs. Outside warranty period, battery replacement runs $8,000 to $15,000 depending on the vehicle, though battery degradation to a point requiring replacement before 200,000 miles is relatively uncommon in current EVs.
Home vs Public Charging — The Cost Difference You Need to Plan For
Home Level 2 charging (240V outlet or dedicated EVSE) costs $0.14 to $0.20 per kWh for most US homeowners — roughly 3 to 4 cents per mile. Public DC fast charging at Tesla Superchargers, EVgo, or Electrify America typically runs $0.35 to $0.50 per kWh — roughly 10 to 14 cents per mile. That’s a 3 to 4x difference between your best and worst-case charging scenario. A driver who charges 100 percent at home pays about $50 to $60 per month in fuel. A driver who charges entirely at public fast chargers may pay $130 to $170 per month — only slightly less than gas. The financial case for EV ownership is strongest when most of your charging happens at home overnight.
The $7,500 Federal Tax Credit — How It Changes Everything
The Inflation Reduction Act’s federal EV tax credit of up to $7,500 for qualifying new electric vehicles is the single most powerful financial lever in the EV vs gas calculation. For buyers who qualify — income under $150,000 single filer or $300,000 married filing jointly, and an EV meeting the assembly and battery requirements — it directly reduces your tax liability dollar for dollar. On a vehicle with an $8,000 EV premium over its gas equivalent, the $7,500 credit reduces the effective net premium to just $500. At $1,600 per year in ongoing EV savings, that $500 net premium pays back in under four months.
💡 Real example — the numbers in full: A Toyota RAV4 costs about $35,000. A Chevrolet Equinox EV (similar size) costs about $45,000. At 15,000 miles per year, $3.45/gal, $0.16/kWh, and assuming no federal credit: the Equinox EV saves $1,170/yr in fuel and $438/yr in maintenance = $1,608/yr total savings. Break-even on the $10,000 price premium arrives at year 6.2. With the $7,500 federal tax credit, the effective premium drops to $2,500. Break-even arrives at year 1.6. Over 10 years of ownership, the Equinox EV saves approximately $6,080 total even without the credit, or $13,580 with it. The math changes significantly at different electricity rates, mileage levels, and whether you qualify for the credit.
Frequently Asked Questions
Over 5 years, most EVs are cheaper to own than comparable gas cars despite higher purchase prices. The savings come from fuel (electricity is ~3x cheaper per mile than gas at national averages), maintenance (half the cost of gas cars per Consumer Reports), and the $7,500 federal tax credit for qualifying buyers. NRDC/Atlas Policy found EVs saved $100 to $11,000 over 7 years vs the closest gas equivalents in every vehicle class they studied. Use Mode 1 above to compare your specific numbers.
Monthly charging cost formula: (Monthly miles / 100) x kWh/100mi x electricity rate. National average example: 1,125 miles/mo x 28 kWh/100mi x $0.16/kWh = $50.40/month at home. Compare: same mileage in a 28 MPG gas car at $3.45/gal = $138/month in gas. EV saves $88/month in fuel alone. At 80% home charging ($0.16/kWh) and 20% public ($0.40/kWh), blended cost = $62/month. Use Mode 2 (Charging Cost Calculator) above for your specific inputs.
Break-even = Net EV premium / Annual EV savings. With no federal credit and a $8,000 premium: break-even at ~5 years at 15,000 mi/yr. With $7,500 federal credit: net premium = $500, break-even in under a year. High mileage drivers (20,000 mi/yr) break even faster (~3.7 years). Low mileage drivers (10,000 mi/yr) take longer (~7.5 years). Use Mode 3 (Break-Even Calculator) to find your specific break-even year. The number that most people miss: annual maintenance savings of ~$438/yr also count toward payback.
At 2026 national averages: EV = 28 kWh/100mi x $0.16/kWh / 100 = $0.045/mile. Gas (28 MPG) = $3.45 / 28 = $0.123/mile. The EV is 2.7x cheaper per mile for fuel. Full ownership cost per mile (all 6 components): EV approximately 72 cents/mile vs gas approximately 77 cents/mile (AAA 2025). The fuel gap is the biggest single difference. A 300-mile road trip: $13.50 in electricity vs $36.90 in gas — a $23 saving per trip.
For a single charge: Battery kWh x electricity rate. Example: 75 kWh battery at $0.16/kWh = $12.00 for a full charge. For monthly cost: (Monthly miles / 100) x kWh/100mi x electricity rate. Find kWh/100mi on fueleconomy.gov or the window sticker. Public fast chargers cost $0.35 to $0.50/kWh — a full charge at a public station runs $26 to $50 for a 75 kWh battery. Use Mode 2 above to enter your home vs public charging split for an accurate blended monthly cost.
For buyers who qualify, it is the most valuable financial factor in the comparison. It directly reduces your federal tax liability by $7,500 — not a deduction, an actual credit. On a vehicle with a $10,000 EV premium, the credit slashes the net premium to $2,500. At $1,600/yr in ongoing savings, that $2,500 pays back in under 2 years. Income limits: $150,000 single filer, $300,000 joint. Vehicle must meet assembly requirements — check eligibility at fueleconomy.gov/feg/tax.do.
Yes — Consumer Reports found EV owners spend about half what gas car owners spend on maintenance and repairs. AAA 2025 data: EV maintenance $1,218/yr vs gas car $1,656/yr = $438/year savings. Over 5 years: $2,190. What EVs eliminate entirely: oil changes ($150-$400/yr), transmission service, timing belt, spark plugs, oxygen sensors, catalytic converter. What EVs still need: tires, wiper blades, cabin air filter, brake fluid. The one major EV-specific risk: battery replacement ($8,000-$15,000 if needed outside warranty). Most EVs carry 8-year/100,000-mile battery warranties.
At 2026 national averages, electricity is about 2.7x cheaper per mile. EV: $0.045/mile. Gas (28 MPG, $3.45/gal): $0.123/mile. The gap varies by location: In Hawaii ($0.43/kWh electricity), the EV fuel cost advantage shrinks. In Louisiana ($0.10/kWh), the EV costs just $0.028/mile vs gas at $0.138/mile — nearly 5x cheaper. At $5.00/gal gas prices (California), the gap widens further. If you rely on public fast charging ($0.40/kWh), the EV fuel cost rises to $0.112/mile — barely cheaper than gas at national average prices.
MPGe (miles per gallon equivalent) converts an EV's electricity use to a gas equivalent: 33.7 kWh = 1 gallon. A Tesla Model 3 rated at 132 MPGe uses the equivalent energy of getting 132 MPG. For cost comparison, what matters more than MPGe is the actual cost per mile: EV at $0.045/mile vs gas at $0.123/mile. MPGe is useful for efficiency comparison but can mislead on actual dollar cost because electricity and gas have different prices per unit of energy in your area. Use Mode 2 (Charging Cost) for actual dollar-per-mile figures for your specific situation.
Tesla Model 3 (2025, ~$40,000, 26 kWh/100mi) vs Honda Accord (2025, ~$30,000, 32 MPG): 5-year fuel cost at 15,000 mi/yr: Model 3 = $3,120, Accord = $8,109. 5-year maintenance: Model 3 ~$6,090, Accord ~$8,280. 5-year insurance (EV ~15% more): Model 3 ~$10,190, Accord ~$8,470. 5-year depreciation: both ~40-45% of purchase price. The $10,000 price premium on the Model 3 is offset by $7,179 in 5-year fuel and maintenance savings. Without tax credit: EV is about $2,800 more over 5 years. With $7,500 credit: EV is roughly $4,700 cheaper over 5 years. Use Mode 1 to run this exact comparison with your own numbers.
Home Level 2 charging: $0.14-$0.20/kWh = $0.04-$0.056/mile. Public DC fast charging: $0.35-$0.50/kWh = $0.10-$0.14/mile. A driver charging 100% at home pays about $50-$60/month in fuel. 100% public charging: $130-$170/month — nearly matching gas costs. Most EV owners charge 70-85% at home. At 80% home / 20% public, blended monthly charging = ~$62/month vs $138/month in gas. The financial case for EVs depends significantly on home charging access. Apartment dwellers relying on public charging may see a much smaller fuel cost advantage.
At 10,000 miles/year, fuel and maintenance savings shrink by 33% vs the 15,000-mile baseline. Without the federal tax credit, break-even on a typical $8,000 premium extends to 7 to 9 years. With $7,500 credit, break-even is still under 2 years for most buyers. If you drive under 10,000 miles/year and cannot access the full federal credit, a conventional hybrid (Toyota Corolla Hybrid, Honda Civic Hybrid) often offers better overall value: lower purchase price, excellent fuel economy, no range anxiety, no charging infrastructure needed. Use Mode 3 (Break-Even) to check your specific case at 10,000 mi/yr.