EV vs Gas Car Calculator
Compare the total cost of ownership between electric and gasoline vehicles. See which option saves you more money over time with our comprehensive cost analysis.
Vehicle Comparison Details
Vehicle Prices
Driving & Efficiency
Fuel Costs
Comparison Summary
Cost Comparison Results
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How to Use Our EV vs Gas Car Calculator
Our EV vs gas car calculator helps you make an informed decision between electric and gasoline vehicles by comparing total ownership costs over time. This comprehensive tool considers all major cost factors to give you an accurate comparison.
What You Need to Compare EV vs Gas Costs:
- Vehicle Prices: Purchase price of both EV and gas vehicle options
- EV Incentives: Federal, state, or local tax credits and rebates
- Driving Habits: Annual miles driven and vehicle efficiency
- Fuel Costs: Current gas prices and electricity rates
- Ownership Period: How long you plan to keep the vehicle
Cost Factors Included:
- Purchase Price: Initial cost minus any incentives
- Fuel Costs: Gas vs electricity costs over time
- Maintenance: EV maintenance is typically lower
- Insurance: May vary between vehicle types
- Depreciation: How much value the vehicle loses over time
Understanding the Results:
- Total Cost: Complete cost of ownership over your specified period
- Monthly Cost: Average monthly cost for each vehicle type
- Savings: Total amount saved by choosing the cheaper option
- Break-even Point: When the EV becomes cheaper than the gas vehicle
Key Considerations:
While cost is important, also consider factors like charging infrastructure availability, environmental impact, driving range, and personal preferences when making your decision.
Frequently Asked Questions About EV vs Gas Costs
Are electric cars cheaper to own than gas cars?
It depends on several factors. EVs typically have higher upfront costs but lower fuel and maintenance costs. Over time, especially with tax incentives and high gas prices, EVs can be cheaper to own. Our calculator helps you determine the break-even point for your specific situation.
How much do I save on fuel with an electric car?
Fuel savings depend on your local electricity and gas prices, plus your driving habits. On average, EV owners save $500-$1,500 annually on fuel costs. The savings are greater in areas with high gas prices and low electricity rates.
Do electric cars have lower maintenance costs?
Yes, EVs typically have lower maintenance costs because they have fewer moving parts. No oil changes, transmission repairs, or exhaust system maintenance. However, battery replacement can be expensive if needed, though most EV batteries last 8-15 years.
What tax incentives are available for electric cars?
Federal tax credits up to $7,500 are available for qualifying EVs. Many states also offer additional incentives including tax credits, rebates, and registration fee waivers. Check your state's specific programs for available incentives.
How long does it take for an EV to pay for itself?
The payback period varies based on the price difference, fuel costs, and driving habits. With current incentives and fuel prices, many EVs pay for themselves in 3-7 years. Our calculator shows you the exact break-even point for your situation.
Do electric cars depreciate faster than gas cars?
EVs may depreciate faster initially due to rapid technology improvements and battery concerns. However, as EVs become more mainstream and battery technology stabilizes, depreciation rates are becoming more similar to gas vehicles.
Is insurance more expensive for electric cars?
Insurance rates for EVs can be slightly higher due to higher repair costs and specialized parts. However, some insurers offer discounts for EVs due to their safety features and lower risk profile. Shop around for the best rates.
What should I consider beyond cost when choosing between EV and gas?
Consider charging infrastructure availability, driving range needs, environmental impact, driving experience preferences, and resale value expectations. Also factor in your daily commute distance and access to home charging.