Are electric vehicles cheaper to own than gas cars?

EVs typically cost more upfront but save money on fuel (electricity vs gas) and maintenance (fewer moving parts, no oil changes). Break-even is usually 3-5 years depending on your driving habits and energy prices.

What is the federal EV tax credit?

The Inflation Reduction Act provides up to $7,500 federal tax credit for new qualifying EVs and $4,000 for used EVs (income limits apply). This significantly reduces the upfront cost difference.

How much cheaper is it to charge an EV than buy gas?

Usually far cheaper per mile. Charging at 15¢/kWh costs about 4–5¢ per mile, while a 30 mpg car at $3.50/gallon costs about 12¢ per mile — roughly a third of the running cost, though public fast-charging narrows the gap.

How many miles until an EV pays off its higher purchase price?

It depends on the price gap and your mileage. If an EV costs $7,000 more but saves 8¢ per mile in fuel, it breaks even around 87,500 miles — sooner with the federal tax credit or high gas prices, later if you drive little.

Do EVs cost less to maintain than gas cars?

Generally yes. EVs have no oil changes, fewer moving parts and regenerative braking that extends brake life, often saving several hundred dollars a year. Tires and the eventual battery are the main long-term costs.

How does home versus public charging change the savings?

Home charging is cheapest, often 10–15¢/kWh, while public DC fast charging can be 40–60¢/kWh — sometimes close to gas costs. The more you charge at home, the larger your savings over a gas car.

What about the cost of replacing an EV battery?

Most EV batteries are warrantied for 8 years or 100,000 miles and commonly outlast that, but out-of-warranty replacement can run several thousand dollars. Factor it into long ownership horizons, though degradation is usually gradual, not sudden failure.

EV vs Gas Cost Calculator — Electric vs Gasoline

How to use EV vs Gas Cost Calculator

This EV-vs-gas calculator compares the cost of driving an electric vehicle against a gasoline car so you can see which is cheaper for your mileage and energy prices. It weighs fuel cost per mile, annual fuel/charging spend and the cumulative difference over years of ownership, helping you decide whether the EV’s savings justify any price premium.

Enter your annual mileage.
Add the gas car’s fuel economy and local fuel price.
Add the EV’s efficiency and your electricity rate.
Optionally include the purchase price difference.
Review cost per mile, annual savings and the break-even year.

Your data never leaves your device — 100% private processing.

Comparing cost per mile

For gas, cost per mile = fuel price ÷ miles per gallon. For an EV, cost per mile = electricity rate × kWh per mile (efficiency). EVs are usually much cheaper to "fuel" per mile because electric motors are efficient and electricity is often cheaper per unit of energy, but the gap depends heavily on local gas and electricity prices.

Total cost of ownership and break-even

EVs can cost more upfront but save on fuel and often maintenance (no oil changes, fewer moving parts). The break-even point is where cumulative fuel savings offset the higher purchase price. Home charging versus public fast charging, available incentives, and resale value all shift the comparison, so test a few scenarios.

Annual fuel cost — 12,000 miles
Vehicle	Assumption	Annual cost
Gas car	30 mpg · $3.50/gal	$1,400
EV (home)	0.30 kWh/mi · $0.15	$540
Difference	—	~$860 saved/yr

Worked examples

Fuel only

Inputs: 12,000 mi · 30 mpg @ $3.50 vs EV @ $0.15

Result: ~$860/yr saved with EV

With $8k premium

Inputs: apply savings to price gap

Result: break-even ~9 years

Glossary

Cost per mile: The energy cost to drive one mile, used to compare vehicles.
MPG: Miles per gallon — a gas car’s fuel economy.
kWh per mile: An EV’s electricity use per mile; lower is more efficient.
Break-even point: The year fuel savings offset a higher EV purchase price.

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EV vs Gas Cost Calculator

Electric Vehicle

Gasoline Vehicle

How to use EV vs Gas Cost Calculator

Comparing cost per mile

Total cost of ownership and break-even

Worked examples

Glossary

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Frequently Asked Questions

Why use EV vs Gas Cost Calculator?

Common use cases

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