EVvsGas
EV vs Gas Calculator
Enter both cars' purchase prices, efficiency, and how much you drive. The verdict compares total cost of ownership including fuel or electricity, maintenance, insurance, and resale value at the end of the horizon you set.
How you drive
Extra (or, if negative, less) insurance cost for the EV.
The EV saves $7,780 over 8 years
The EV's extra purchase cost pays back by year 8, once its lower running cost catches up.
More driving means more fuel cost, and the EV's per-mile cost is usually lower -- higher mileage favors the EV, low mileage favors gas's lower purchase price.
| EV | Gas | |
|---|---|---|
| Cost per mile | 4.5¢ | 12.5¢ |
| Annual fuel/energy cost | $540 | $1,500 |
| Resale value at horizon | $18,900 | $11,200 |
| Total cost of ownership, 8 yr | $30,620 | $38,400 |
How this is calculated
Total cost of ownership = purchase price + (years × annual running cost) − resale value at the horizon, for each car. Annual running cost is fuel/energy plus maintenance plus, for the EV, the insurance delta. Break-even year is the first year the EV's cumulative cost (purchase price plus running costs to date, before resale) drops to or below the gas car's.
| Miles/year | EV total cost, 8yr | Gas total cost, 8yr | Break-even year |
|---|---|---|---|
| 5,000 | $28,100 | $31,400 | never |
| 10,000 | $29,900 | $36,400 | never |
| 15,000 | $31,700 | $41,400 | 7 |
| 20,000 | $33,500 | $46,400 | 6 |
Break-even arrives sooner the more you drive -- at 20,000 miles/year the EV's running-cost edge compounds fast enough to pay back the purchase premium well within a typical ownership period.
Frequently Asked Questions
The EV costs $10,000 more upfront -- how does it still win?
Running cost. At 12,000 miles/year, the EV costs 4.5¢/mile to fuel against 12.5¢/mile for gas -- $960/year saved on energy alone. Over 8 years that gap, plus lower maintenance, overcomes the $10,000 price difference by year 8, and the EV finishes $7,780 cheaper overall.
What if I don't drive very much?
At 5,000 miles/year instead of 12,000, the running-cost gap shrinks and the EV's advantage drops to $3,300 -- low-mileage drivers get less benefit from the EV's cheaper cost per mile, since there are fewer miles to apply it to.
How is the per-mile cost calculated?
For gas: price per gallon ÷ miles per gallon. For electric: (kWh per 100 miles ÷ 100) × price per kWh. Both reduce to a straightforward cost-per-mile you can sanity-check against your own last few fuel or utility bills.
Does this include home charger installation?
No -- add that as a one-time cost to the EV's purchase price if you need one (a basic Level 2 home charger installation commonly runs $500-$2,000 depending on your electrical panel). Public fast-charging, if you rely on it instead of home charging, typically costs more per kWh than the residential rate this calculator assumes; raise the electricity-price input to match if that's your situation.
Why include an insurance delta?
EVs often cost more to insure due to battery replacement cost and repair complexity, though this varies a lot by model and insurer -- sometimes it's a wash. Enter your own quotes' difference; a negative number means the EV is cheaper to insure in your case.
What's not captured here?
Federal and state EV purchase incentives (which can be several thousand dollars and change the upfront price materially), the time cost of charging versus a five-minute gas fill-up, and battery degradation over very long ownership periods. Subtract any incentive you're eligible for from the EV's purchase price before running the numbers.
SidebySideCalc calculators apply standard, published formulas -- loan amortization, future-value-of-annuity, and deductible/coinsurance cost-sharing math -- to the numbers you enter. They are estimates for comparing two paths, not tax, legal, or financial advice: your lender, plan documents, and a tax professional decide the real figures for your situation.