EV vs Gas Total Cost of Ownership Calculator
Detailed 10-Year Comparison
Full total cost of ownership comparison over 10 years
Quick Fuel Comparison
Formula
Total Cost = Purchase Price − Tax Credits + Σ(Annual Fuel × Inflation^year) + (Maintenance/mi × Miles × Years) + (Insurance × Years) − Residual Value
Frequently Asked Questions
Are electric cars really cheaper to own than gas cars?
In most cases, yes. While EVs often have higher purchase prices, they are significantly cheaper to fuel (electricity vs gas) and maintain (no oil changes, fewer brake replacements, no transmission service). Over 5-10 years, total cost of ownership is typically lower for EVs.
How much do you save on maintenance with an EV?
EV owners save roughly $0.05 per mile on maintenance compared to gas cars. That's about $600/year for the average driver. EVs don't need oil changes, have regenerative braking that reduces brake wear, and have far fewer moving parts than internal combustion engines.
How does EV depreciation compare to gas vehicles?
EVs have historically depreciated faster than gas cars, losing about 50% of value in 5 years compared to 40-45% for gas vehicles. However, popular models with strong demand (like Tesla) depreciate more slowly. As the used EV market matures, depreciation rates are improving.
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