EV vs Gas 5-Year Cost Calculator
Driving Habits
Electric Vehicle
Gas Vehicle
How to Use This Calculator
Compare the total 5-year cost of ownership between an electric vehicle and a gas vehicle. This includes purchase price, fuel/electricity, maintenance, insurance, and tax credits.
Note: EVs typically have lower maintenance costs due to fewer moving parts and no oil changes. Federal tax credits of up to $7,500 are available for qualifying new EVs.
About This Calculator
Use the ev vs gas 5-year cost calculator when you want faster calculations with a clear method behind every result.
Inside electric vehicles, this tool gives you a practical way to model scenarios, compare outcomes, and make better next-step decisions without spreadsheet overhead.
If your workflow expands, pair this calculator with EV Charging Cost Calculator and EV Range Calculator to cross-check assumptions and build a stronger analysis chain.
Formula
EV annual fuel = (Annual miles / Efficiency) × Electricity cost | Gas annual fuel = (Annual miles / MPG) × Gas price | EV 5-year total = Purchase price - Tax credit + (Insurance + EV maintenance + Registration + EV fuel) × 5 | Gas 5-year total = Purchase price + (Insurance + Gas maintenance + Registration + Gas fuel) × 5 | Savings = Gas total - EV total
Example Calculation
The worked example below demonstrates how the input fields translate into the final output. Use it as a quick validation pass before entering your own numbers.
- EV: Purchase price, Battery capacity (kWh), Efficiency (mi/kWh), Electricity cost ($/kWh): 6
- Gas: Purchase price, MPG, Gas price ($/gallon): 8
- Both: Annual miles driven, Insurance, Maintenance, Registration, Tax credit: 12
Explanation of Results
Result Interpretation
The ev vs gas 5-year cost calculator returned calculated value based on EV: Purchase price, Battery capacity (k Wh), Efficiency (mi/k Wh), Electricity cost ($/k Wh) 6, Gas: Purchase price, MPG, Gas price ($/gallon) 8, and Both: Annual miles driven, Insurance, Maintenance, Registration, Tax credit 12. Use this result as a baseline, then adjust one input at a time to understand how sensitive your outcome is before making decisions.
FAQ
How should I validate the ev vs gas 5-year cost calculator result?
Run a second scenario with rounded numbers, then compare the direction and magnitude of the change before using the value operationally.
What formula is this based on?
This page uses the following formula logic: EV annual fuel = (Annual miles / Efficiency) × Electricity cost | Gas annual fuel = (Annual miles / MPG) × Gas price | EV 5-year total = Purchase price - Tax credit + (Insurance + EV maintenance + Registration + EV fuel) × 5 | Gas 5-year total = Purchase price + (Insurance + Gas maintenance + Registration + Gas fuel) × 5 | Savings = Gas total - EV total
Can I bookmark this electric vehicles tool?
Yes. Use the canonical URL /automotive/electric-vehicles/ev-vs-gas-5-year-cost-calculator to return to this calculator in the Automotive library.
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See Also
Other calculators in Electric Vehicles