Electric vs Gas Car: Total Cost of Ownership Calculator

At mid-2026 national average prices ($0.19/kWh electricity, ~$4.10/gal gasoline), a typical home-charging driver saves roughly $1,400 per year in fuel and maintenance, so most EV buyers recoup the price premium in about 4–6 years — even without the expired federal credit. More annual miles or cheap off-peak charging shortens the break-even period. Use the calculator above to find your personal break-even year.

At the U.S. average electricity rate of $0.19/kWh (EIA, March 2026) and a typical EV efficiency of 3.3 mi/kWh (0.30 kWh/mile), home charging costs about $0.057 per mile — roughly $680 per year for 12,000 miles. Public DC fast charging typically costs $0.35–$0.55/kWh, or about $0.11–$0.17 per mile.

EVs have no engine oil, spark plugs, timing belts, or transmission fluid to change. Regenerative braking also greatly reduces brake wear. Consumer Reports data shows EV owners spend about half as much on maintenance and repairs — roughly $0.03 per mile versus $0.06 for gas vehicles, or about $360/year less at 12,000 miles.

Yes. Cold temperatures can temporarily reduce EV range by 15–40% because the battery chemistry is less efficient and cabin heating draws power. Pre-conditioning the car while still plugged in mitigates most of the range loss. Modern cold-climate EVs recover most range above 20°F (-7°C).

No. The federal 30D new clean vehicle credit and 25E used clean vehicle credit were repealed by the One Big Beautiful Bill Act (P.L. 119-21), signed July 4, 2025. The credits applied to vehicles acquired on or before September 30, 2025. For purchases after that date, there is no federal EV tax credit. Some states — including Colorado, New York, and others — maintain separate state-level EV incentives. Check your state's energy office for current programs.

Earlier EVs depreciated rapidly as range anxiety was high, but current EVs depreciate at roughly the same rate as comparable gas vehicles — about 15–25% in year one and 10–15% per year after. Tesla, Rivian, and some Korean EVs have held value particularly well in recent years.

EV insurance typically runs 10–25% higher than a comparable gas vehicle, primarily because EVs cost more to repair and replacement parts can be expensive. However, some insurers offer green-vehicle discounts, and rates vary widely. Shop at least three quotes before buying.

Even when accounting for electricity generation from the current U.S. grid, EVs emit roughly 50–70% less CO₂ over their lifetime than gas cars. In states with clean grids (Washington, California, New York), lifecycle emissions drop even further — approaching near-zero in regions powered primarily by hydro, wind, or solar.