EV vs Gas Savings Calculator
Enter purchase prices, annual miles, fuel costs, maintenance and other expenses to compare the 5-year (or any period) total cost of EV vs gas.
Reviewed by the ToolNestr Editorial Team — July 2026
Cumulative cost comparison: EV vs Gas by year
The bars below show the estimated cumulative cost of each vehicle year by year.
Car Buyer
Compare the true cost of ownership between an EV and gas car before visiting a dealership so you know which powertrain makes financial sense for you.
Fleet Manager
Model TCO across your fleet to determine which routes and use cases favor EVs vs gas vehicles and plan your electrification strategy with confidence.
Financial Planner
Help clients understand the long-term financial implications of EV ownership including incentives, fuel savings, and maintenance cost differences.
Environmentalist
Show that the financial case for EVs is compelling alongside the environmental benefits — lower carbon emissions from day one, improving with grid decarbonization.
| Comparison | EV price | Gas car price | Annual fuel cost (EV) | Annual fuel cost (gas) | 5-year savings |
|---|---|---|---|---|---|
| Tesla Model 3 vs Camry | $40,000 | $30,000 | $480 | $1,400 | $9,600 |
| Model Y vs RAV4 | $45,000 | $34,000 | $600 | $1,600 | $10,000 |
| F-150 Lightning vs F-150 | $55,000 | $42,000 | $900 | $2,400 | $11,500 |
| Chevy Bolt vs Civic | $27,000 | $26,000 | $480 | $1,200 | $5,600 |
How EV vs gas savings are calculated
Annual savings are found by subtracting EV running costs from gas running costs: savings = annual miles × (gas cost per mile − EV cost per mile). Fuel and maintenance costs are both factored in.
The break-even point divides the upfront price difference by the annual savings, showing how many years it takes for the EV to become the cheaper option overall.
Worked example
How to use the EV vs Gas Savings Calculator
Enter purchase prices
Input the purchase price (after any negotiation) for both the EV and the gas car you are comparing. Add any applicable tax incentive for the EV.
Enter usage details
Set annual miles, fuel efficiency for each vehicle, local electric and gas prices, annual maintenance estimates, and your insurance cost difference.
See break-even point
View total cost for each vehicle over the ownership period and the year when the EV becomes the cheaper option — at the break-even point.
Tips for an accurate comparison
Include all incentives
Federal tax credits (up to $7,500 US), state rebates, utility rebates, and local incentives can significantly reduce the effective EV purchase price. Check current eligibility as rules change frequently.
Maintenance is 30–50% less for EVs
EVs have fewer moving parts and no oil changes, timing belts, spark plugs, or exhaust systems. Regenerative braking extends brake life by 2–3x. Budget about $300/year for EV maintenance vs $600–1,000 for a gas car.
Resale value matters
While EVs traditionally depreciated faster, the gap is closing. After 5 years, a gas car might retain 45–50% of its value while an EV retains 40–45%. The savings from lower running costs typically outweigh the depreciation difference.
Total cost of ownership components
Total Cost of Ownership (TCO) is the only fair way to compare EV vs gas vehicle costs. It includes: purchase price (minus incentives), annual fuel/energy costs, routine maintenance, repairs, insurance premiums, registration fees, and estimated resale value at the end of the ownership period. A comprehensive TCO analysis often shows that an EV with a $10,000 higher purchase price can be cheaper over 5–7 years.
Fuel savings math
The fuel cost comparison is straightforward but dramatic. At $0.14/kWh and 3.5 mi/kWh, an EV costs $0.04/mile. At $3.50/gal and 30 MPG, a gas car costs $0.117/mile. Over 12,000 miles per year, that's $480 vs $1,400 — a $920 annual saving. As gas prices rise or if you charge on time-of-use rates ($0.08/kWh), the EV advantage grows. At $5/gal gas, the gas car costs $2,000/year while the EV still costs ~$400.
Maintenance savings
EVs eliminate most routine ICE maintenance. No oil changes (save $100–200/year), no transmission service, no spark plugs, no timing belt, no exhaust system, no starter motor, and no fuel system cleaning. The main EV maintenance needs are: tire rotations and replacement, cabin air filters, brake fluid flushes (every 2–3 years), and coolant changes (every 5 years). Overall, EV maintenance is approximately 30–50% lower over the vehicle's lifetime.
Break-even calculation explained
The break-even point is the year when the cumulative cost of owning the EV becomes equal to the gas car. It is calculated by dividing the price difference (EV price minus gas price minus incentive) by the annual savings in fuel, maintenance and insurance. For example, a $10,000 higher EV price with $2,500/year in savings breaks even in year 4. Every year after that, the EV saves you $2,500/year.
Frequently asked questions
How much can I save by switching to an EV?
On average, EV owners save $5,000–10,000 over 5 years compared to a similar gasoline vehicle. The savings come from cheaper fuel (electricity vs gasoline), lower maintenance (fewer moving parts, no oil changes), and tax incentives of up to $7,500 in the US.
What is the break-even point for an EV?
The break-even point is typically 3–5 years for most buyers. If an EV costs $10,000 more upfront than a gas car but saves $2,500/year in fuel and maintenance, the break-even is 4 years. After that, the EV is pure savings.
How much cheaper is EV maintenance?
EVs have 30–50% lower maintenance costs over their lifetime. No oil changes, no timing belts, no exhaust systems, no spark plugs, and no transmission service. The main EV maintenance items are tires, cabin air filters, brake fluid, and coolant — and regenerative braking means brakes last 2–3x longer.
Does the EV tax credit affect the comparison?
Yes. In the US, the federal tax credit of up to $7,500 significantly changes the total cost equation. Some states add additional incentives. The Inflation Reduction Act (IRA) has specific requirements about battery sourcing and vehicle price caps that determine eligibility.
Are EVs more expensive to insure?
EVs typically cost 10–30% more to insure than comparable gas cars due to higher repair costs and specialized parts. However, some insurers offer EV-specific policies with lower rates. The difference is usually $100–300/year more for an EV.
Does resale value differ between EV and gas?
EV resale values have been improving. Early EVs depreciated faster than gas cars due to battery degradation concerns and rapid technology improvements. Modern EVs with long-range batteries (200+ miles) retain value better, though gas cars still generally have a small edge in resale value.
How do electricity and gas prices affect savings?
The gap widens when gas prices are high and electricity rates are low. At $4/gal gas and $0.14/kWh electricity, an EV saves about $0.08/mile in fuel alone. If gas drops to $2.50/gal, the per-mile saving drops to about $0.04/mile.
What costs should I include in a TCO comparison?
A complete total cost of ownership comparison includes: purchase price (minus incentives), fuel/energy costs, maintenance, repairs, insurance, registration/fees, tires, and resale value. Some regions have higher registration fees for EVs that should be factored in.
Are there hidden costs of EV ownership?
Yes. Level 2 home charger installation costs $500–2,000. Some states charge higher registration fees for EVs ($50–200/year extra to replace gas tax revenue). Battery replacement (rarely needed within the first 10 years) can cost $5,000–15,000, though most batteries last 150,000–200,000+ miles.
Do EVs save money in the long run?
For most drivers, yes. Over 10 years and 150,000 miles, an EV typically saves $10,000–20,000 compared to a gas car. The savings are largest for people who drive many miles (15,000+/year), have access to home charging, and live in states with moderate electricity rates.
Sources & references
This tool uses standard formulas and reference values from:
- • SAE International standards (e.g. J1349 engine power, J1634 EV range). sae.org
- • U.S. DOE / EPA — fueleconomy.gov, official efficiency, MPGe and charging figures. fueleconomy.gov
- • Vehicle manufacturer service specifications — always defer to the OEM figures for your specific vehicle.
General estimates. Follow your manufacturer’s published specifications and a qualified mechanic for safety-critical work.