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.
Use this ev vs gas 5-year cost calculator to compute electric vehicles results from your inputs.
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