EV vs. Gas Cost Calculator
For a typical US driver, an electric car usually pays off versus gas within 5 to 10 years once fuel savings are counted. The federal Clean Vehicle Credit ended in September 2025 — enter any incentive you still qualify for below, and check your state and utility for current programs.
Assumptions & advanced options
Data updated: . Sources: EIA electricity data, AAA gas prices
How this comparison works
We add each vehicle's purchase price (minus any incentive you entered) to its running cost over your ownership period. Gas running cost is annual miles divided by mpg, multiplied by gas price. EV running cost is annual miles divided by miles-per-kWh, multiplied by your electricity rate. This gives a total cost of ownership for each vehicle at every year of the comparison.
The break-even year is when the EV's cumulative cost drops below the gas car's cumulative cost. Before that crossover, the gas car is cheaper in total; after it, the EV comes out ahead and the gap widens each year. The lifetime savings figure at your chosen ownership length is the difference between the two cumulative costs at that point.
Gas and electricity prices are held constant at the values you enter — the model does not try to predict future fuel prices, because those are genuinely uncertain. You can run the calculator twice with different price assumptions to see a range of outcomes. The comparison also does not include insurance differences, registration fees, or maintenance costs, which in practice tend to favor EVs modestly.
If you want to understand how each input interacts — or get a fuller picture including maintenance and resale value — the full guide walks through the complete cost-of-ownership analysis with real-world data.
What changes your result
- Annual miles driven — more miles means larger annual fuel savings for the EV, moving the break-even point earlier.
- Gas price — higher gasoline prices increase the gas car's running cost and shorten the EV payback period.
- Electricity rate — a higher home charging rate raises the EV's running cost and pushes the break-even later.
- Vehicle efficiencies (mpg and mi/kWh) — a more efficient gas car narrows the per-mile fuel cost gap; a more efficient EV widens it.
- Purchase-price gap — the larger the price difference between the EV and the gas car, the more fuel savings are needed to recover it.
- Incentive amount — any rebate or credit directly reduces the EV's net purchase price; the federal credit ended September 30, 2025, but state and utility incentives may still apply.
Read the full guide: EV vs. Gas: True Cost of Ownership →
Frequently asked questions
- Is an electric car cheaper than gas overall?
- For most US drivers, an EV has a higher purchase price but lower running costs, and comes out cheaper over 5 to 10 years once fuel savings are counted. The exact break-even depends on your annual mileage, electricity rate, and gas price — the calculator above works it out for your numbers.
- How much does it cost to charge an EV vs. fill a gas tank?
- Charging at home is usually far cheaper per mile than gasoline. At 16.5¢/kWh and 3.5 miles per kWh, electricity costs about 4.7¢/mile, versus roughly 12¢/mile for a 28 mpg car at $3.45/gallon.
- Does the federal EV tax credit change the math?
- The US Clean Vehicle Credit (up to $7,500) was available through September 30, 2025, but has since ended for new vehicle acquisitions. If you purchased an eligible EV before that date, you may still be able to claim it on your taxes. For purchases made in 2026 and later, the federal credit no longer applies. State, local, or utility EV incentives may still be available — enter any incentive you qualify for in the calculator, and check the full guide for current programs.
- How does annual mileage affect the break-even point?
- Higher mileage accelerates the break-even because you spend more on fuel each year, so the EV's lower per-mile cost compounds faster. A driver covering 15,000 miles per year accumulates fuel savings roughly twice as fast as one covering 7,500 miles, cutting the break-even time nearly in half.
- What electricity rate should I enter?
- Use your home charging rate from your utility bill, in cents per kWh. If you charge mostly at public fast chargers, your effective rate is higher — sometimes 30 to 50¢/kWh — which extends the break-even compared to home charging. The calculator defaults to a national average home rate.
- Are EV maintenance costs lower than for a gas car?
- Generally yes. EVs have no oil changes, fewer brake jobs (regenerative braking reduces wear), and no exhaust or transmission service. U.S. Department of Energy research has found EVs have lower scheduled maintenance costs than comparable gas vehicles. This calculator focuses on purchase price and fuel; the full guide covers the complete ownership cost picture including maintenance.