Compare electric vehicle costs vs gas car including fuel, maintenance, and total ownership costs
An EV cost savings calculator compares total cost of owning an electric vehicle versus gasoline car over 5-10 years, accounting for higher EV purchase price but lower fuel and maintenance costs. Calculates fuel savings (electricity $0.04-0.10 per mile versus gas $0.12-0.18 per mile), maintenance savings (EVs have no oil changes, fewer brake replacements, simpler drivetrains), tax incentives (federal tax credit up to $7,500, state rebates), and depreciation differences. Shows breakeven point when cumulative EV savings exceed higher upfront cost. Essential for car buyers evaluating EV switch, environmental impact decisions, and long-term cost planning.
Make informed EV purchasing decisions with complete financial picture—EVs typically cost $10k-15k more upfront but can save $5k-8k annually in fuel and maintenance, breaking even in 2-4 years. Understand that fuel savings alone can equal $1,500-2,500 annually driving 12k miles: charging at home costs $400-600 yearly versus $1,800-2,500 for gas. Factor in dramatically lower maintenance: no oil changes ($500 saved over 5 years), fewer brake replacements due to regenerative braking ($800 saved), no transmission or exhaust system repairs ($1,000+ saved). Include federal tax credit ($7,500 for many models), state incentives ($2k-5k in California, Colorado, others), utility rebates, and lower registration fees in some states. Calculate reduced environmental impact: typical EV produces 50-70% less CO2 over lifetime even accounting for electricity generation.
Enter your annual mileage, gas price in your area, comparison vehicle MPG, electricity rate ($0.10-0.15/kWh typical residential), EV efficiency (3-4 miles per kWh for most EVs), maintenance costs for gas vehicle ($800-1,200 annually) versus EV ($300-500), purchase price difference, and ownership period. Results show cumulative savings over time, breakeven point in years, total cost of ownership comparison, and fuel cost comparison. Include home charging installation ($500-2,000 for Level 2 charger), any public charging costs if relevant, and resale value projections. Best savings occur driving 12k+ miles annually, charging at home, and taking advantage of incentives.
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