EV vs. Gas 5-Year Savings Calculator
Calculate 5-year Total Cost of Ownership (TCO) comparing gas cars to EVs including fuel, maintenance, tax credits & CO2 offset.
EV Costs $6,505 More Over 5 Years
Gas 5-Year Total: $44,713 · EV 5-Year Total: $51,218
Popular Electric Vehicle Showcase
Model 3 RWD
Model Y Long Range
Ioniq 5 SEL
Equinox EV LT
F-150 Lightning XLT
R1T Dual-Motor
Gasoline Vehicle Parameters (USD)
Electric Vehicle (EV) Parameters (USD)
User-configured rebate. Enter qualified federal, state/provincial, or utility tax credits.
5-Year Cumulative Expenditure Comparison (USD)
Year 5 matches exact totalsEV vs. Gas 5-Year Savings Calculator Methodology & Instructions
Step-By-Step Guide
- Select a popular comparison matchup (e.g., Tesla Model 3 vs Toyota Camry) or enter your exact vehicle prices.
- Adjust your annual driving distance using the slider (3,000 to 40,000 miles/km per year).
- Set local gasoline price per gallon/liter and residential electricity rate per kWh.
- Input government tax credits or purchase price rebates.
- Review your 5-year net savings, energy cost-per-mile comparison, breakeven payoff timeline, and estimated CO2 reduction.
5-Year Ownership Cost Equation
Total 5-Year Cost = Net Purchase Price + (Annual Fuel/Electricity Cost × 5) + (Annual Maintenance Cost × 5). EV Net Price = MSRP - Tax Incentives.
Understanding Your Results
| Category | Gasoline Vehicle | Electric Vehicle (EV) |
|---|---|---|
| Fuel Efficiency | 25–35 Miles per Gallon (MPG) | 3.0–4.2 Miles per kWh (~120 MPGe) |
| Cost per 100 Miles | $12.17 (Gas @ $3.65/gal, 30 MPG) | $4.41 (Power @ $0.15/kWh, 3.4 mi/kWh) |
| Annual Maintenance | $1,100/yr (Oil changes, transmission fluid, spark plugs, belts) | $650/yr (Cabin air filter, tire rotations, windshield fluid) |
Understanding the 5-Year Ownership Formula
EV financial savings depend on multiple factors: purchase price premiums, federal/state tax incentives, residential electricity rates, local gas prices, drivetrain efficiency, maintenance intervals, and annual driving mileage.
- Annual Gas Fuel Cost:
(Annual Miles / MPG) × Gas Price per Gallon - Annual EV Electricity Cost:
(Annual Miles / EV mi per kWh) × Electricity Rate per kWh - Annual Maintenance Savings:
Gas Annual Maintenance − EV Annual Maintenance - Upfront Price Premium:
(EV Price − Tax Incentives) − Gas Purchase Price - Breakeven Payoff Timeline:
Upfront EV Premium / Total Annual Operating Savings
Frequently Asked Questions
Is an Electric Vehicle (EV) really cheaper to own than a gas car over 5 years?
How much do EV owners save on routine maintenance compared to gas cars?
How does home charging compare to public fast charging costs?
What is the breakeven timeline for paying off the EV price premium?
Related Calculators
In-Depth Analysis & Reference Guide
Total Cost of Ownership (TCO): EV vs. Gasoline Vehicles
When evaluating an Electric Vehicle (EV) against an Internal Combustion Engine (ICE) gasoline vehicle, looking strictly at the sticker purchase price leads to inaccurate financial conclusions. Over a standard 5-year ownership horizon (60,000 to 75,000 miles driven), fuel, routine maintenance, brake replacement, local utility rates, and tax credits reshape the net expenditure profile.
1. Fuel & Energy Efficiency Delta
The primary operational saving comes from the energy cost differential per mile. A standard gasoline car achieving 28 MPG at $3.60 per gallon costs approximately $0.128 per mile driven. In comparison, an EV achieving 3.8 miles per kWh charging on standard residential electricity rates ($0.15/kWh) costs roughly $0.039 per mile driven — yielding a direct 69% reduction in fueling expense.
2. Maintenance & Wear Reduction
EV drivetrains contain approximately 20 moving parts compared to over 2,000 moving components in internal combustion engines. According to Consumer Reports, lifetime EV maintenance costs average 50% lower than gas counterparts ($0.031 vs. $0.061 per mile), eliminating oil changes, spark plug replacements, transmission flushes, and significantly extending brake pad life due to regenerative braking.
3. Breakeven & Payoff Timeline
For drivers commuting 12,000 to 15,000 miles annually, the cumulative fuel and maintenance savings ($1,200 to $1,800 annually) typically offset a $4,000 to $6,000 upfront EV purchase premium within 2.5 to 3.5 years of ownership.