CarcostmeterEV vs gas: which is cheaper?
An electric car usually costs more to buy and less to run. Find out how long the savings take to cover the difference, with your prices.
miles per year
years
Electric car
$
kWh per 100 mi
$per kWh
A blend of home and public charging.$first year
Gas car
$
mpg
$per gallon
$first year
Result
The electric car becomes the cheaper one in year 8. Over 8 years it saves $427.
Energy per year, electric$612
Fuel per year, gas$1,360
Running-cost saving per year$898
| After year | Electric: total cost | Gas: total cost | Difference |
|---|---|---|---|
| 1 | $10,412 | $8,210 | Gas $2,202 cheaper |
| 2 | $16,683 | $13,896 | Gas $2,787 cheaper |
| 3 | $21,967 | $19,045 | Gas $2,922 cheaper |
| 4 | $26,454 | $23,746 | Gas $2,708 cheaper |
| 5 | $30,297 | $28,077 | Gas $2,221 cheaper |
| 6 | $33,155 | $31,701 | Gas $1,454 cheaper |
| 7 | $35,753 | $35,187 | Gas $566 cheaper |
| 8 | $38,133 | $38,560 | Electric $427 cheaper |
Total cost = value lost plus energy and maintenance to date. Insurance and loan interest are left out here; the full comparison includes them.
What decides it
- How far you drive. The more distance, the faster cheaper charging pays back.
- Where you charge. Home charging is often a third of the cost of gasoline per mile; public fast charging can cost as much as gas.
- Resale value. Many electric models have lost value faster than gas cars, which this calculator includes.
- Maintenance. No oil changes and less brake wear usually make an EV cheaper to keep.
Purchase incentives and tax credits change often and differ by country. Take them off the electric car's price if you qualify.
Compare any two or three cars in full, including insurance and loan interest.