EV vs Gas Savings Calculator — Total Cost Comparison

For many drivers, yes. Lower fuel and maintenance costs can offset the higher upfront price within 5-8 years. Federal tax credits up to $7,500 and state incentives further improve the economics. Your break-even point depends on electricity costs, driving patterns, and gas prices in your area.

Electricity costs ~$0.03-0.05 per mile vs $0.10-0.15 per mile for gas. A typical EV costs $3-5 to fully charge (200-300 miles range) vs $35-50 for a gas car. Annual charging costs: ~$400-800 vs fuel costs of $1,500-2,000 for gas vehicles.

EVs have significantly lower maintenance costs: no oil changes, fewer moving parts, and regenerative braking reduces wear. Annual EV maintenance: $200-400 vs gas cars $500-1,000. Over 10 years: $2,000-4,000 savings on maintenance alone.

Federal tax credit up to $7,500 for new EVs and $4,000 for used EVs (income limits apply). Many states offer additional $1,000-5,000 rebates. Some utilities offer charging rebates. Research current incentives at fueleconomy.gov and your state's environmental agency.

Battery degradation is minimal—most EVs retain 85-90% capacity after 10 years. Replacement cost is high (~$5,000-15,000) but modern warranties cover 8-10 years. Most owners keep vehicles <150,000 miles, so battery replacement is rare and decreases annually in cost.

Break-even = (Gas Car Total Cost - EV Total Cost) ÷ (Annual Gas Costs - Annual EV Costs). Example: $5,000 price difference ÷ $1,200 annual savings = 4.2 years break-even. This calculator helps you find your specific break-even.