EV vs. Gas Total Cost
of Ownership Calculator

How This Calculator Works

Fuel Cost Methodology

Gas vehicle fuel cost is calculated as (annual miles ÷ MPG) × gas price. EV charging cost is calculated as (annual miles ÷ 100) × kWh/100mi × electricity rate. EV efficiency figures (kWh/100 miles) come from EPA fuel economy ratings. Electricity rate defaults come from the EIA and are updated monthly.

Maintenance Cost Methodology

Maintenance cost estimates use per-mile averages from AAA and the US Department of Energy: $0.101 per mile for gas vehicles and $0.061 per mile for EVs. Gas vehicle maintenance includes oil changes, filters, spark plugs, timing belt, transmission service, and average brake work. EV maintenance excludes all of those and includes reduced brake work due to regenerative braking. These are averages — your actual costs will vary by model and driving conditions.

CO2 Savings Calculation

Gasoline combustion produces approximately 8.89 kg of CO2 per gallon (EPA figure). Grid electricity in the US produces approximately 0.386 kg of CO2 per kWh on average (EPA eGRID national average). The EV's grid-sourced CO2 depends heavily on your local grid mix — states with high renewable penetration (Washington, California) produce far less CO2 per kWh than the national average. The calculator uses the national average for a conservative estimate.

Purchase Price Premium

Enter the difference between the EV's purchase price and a comparable gas vehicle. The Section 30D federal EV purchase credit expired September 30, 2025 under Public Law 119-21 (OBBBA) and is not available for 2026 purchases. Enter your actual out-of-pocket purchase price difference.

OBBBA Auto Loan Interest Deduction (New for 2025–2028)

OBBBA introduced a new above-the-line deduction for auto loan interest on new US-assembled vehicles: up to $10,000 per year of loan interest may be deductible through December 31, 2028, subject to income limits. This applies to both EVs and gas vehicles as long as the vehicle was assembled in the United States. Unlike a tax credit, this is a deduction — it reduces taxable income, not your tax bill dollar-for-dollar. This calculator does not factor in this deduction as its value depends on your marginal tax rate and loan terms. Consult a tax professional and see the IRS OBBBA FAQ for eligibility details.

Tax-credit rules updated May 2026, reflecting OBBBA Public Law 119-21. Electricity rate data refreshed from EIA. Gas price data from EIA petroleum prices.

Last reviewed: May 2026.

Why Total Cost of Ownership Beats Sticker Price

Most car shoppers compare sticker prices. That comparison misses most of what actually determines which vehicle is cheaper to own. The sticker price is a one-time event. Fuel, maintenance, insurance, and financing are recurring costs that compound over the years you own the car. For electric vehicles versus gas vehicles, those recurring costs diverge substantially — enough to change the outcome of the comparison for most buyers.

Total cost of ownership adds up every meaningful expense over your ownership period: the purchase price difference, annual fuel costs, annual maintenance costs, and for some analyses, insurance and depreciation. This calculator focuses on the components that are modeled reliably with publicly available data — fuel, maintenance, and purchase price delta. Insurance and depreciation are real but vary too much by model, driver profile, and location to produce reliable estimates without those specifics.

The sticker price gap between EVs and comparable gas vehicles has narrowed since 2022. Several mainstream EV models now sit within $3,000–$5,000 of their gas equivalents before any adjustments. Fuel and maintenance savings have, at the same time, become more predictable as EVs have accumulated real-world ownership data. The combination means the TCO comparison is more favorable for EVs than the sticker price suggests — but only if you drive enough miles to realize the per-mile savings, and only if your charging situation supports cheap home charging rather than expensive public DC fast charging. The calculator lets you test your specific numbers.

Fuel Cost: Electric vs. Gasoline

The fuel cost calculation for each vehicle type comes down to the same structure: miles driven times cost per mile. For a gas car, cost per mile is the gas price divided by fuel economy. For an EV, it is the electricity rate multiplied by the vehicle's energy consumption per mile.

Walk through a concrete example with common numbers. You drive 15,000 miles per year. Your current car gets 28 MPG. Gas costs $3.40 per gallon in your area. Annual gas cost: 15,000 ÷ 28 × $3.40 = $1,821. Now compare to a midsize EV with an EPA-rated efficiency of 3.5 miles per kWh (roughly 28.6 kWh per 100 miles). Your home electricity rate is $0.14 per kWh. Annual charging cost: 15,000 ÷ 3.5 × $0.14 = $600. The EV saves $1,221 per year in fuel — roughly $102 per month. Over five years, that is $6,105. Over ten years, $12,210.

Those savings are sensitive to local rates. California residents paying $0.30/kWh see smaller per-mile savings than the national average. States with cheap electricity — Washington, Idaho, Tennessee — see larger savings. The asymmetry runs both ways: in states where gas is cheap and electricity is expensive, the EV fuel advantage narrows considerably.

One factor that deserves emphasis is the difference between home charging and public charging. Level 2 home charging at $0.14/kWh costs roughly $0.04 per mile for an efficient EV. DC fast charging at a public station typically runs $0.30–$0.50 per kWh, and many networks use session fees or per-minute pricing that makes the effective rate even higher. A driver who relies primarily on public fast charging may see fuel costs comparable to or exceeding a gas vehicle. Home charging is the foundation of the EV economic case. If you cannot charge at home or work — apartment dweller with no workplace charging — run the numbers carefully before assuming EV fuel savings will materialize.

Maintenance Savings — What the Data Actually Shows

EVs eliminate or dramatically reduce several recurring maintenance categories. There are no oil changes — a gas car typically requires two to three per year at $60–$150 each, depending on whether you use conventional or synthetic oil. No spark plugs, which gas cars typically replace every 30,000–100,000 miles at $100–$300 for a full set. No timing belt or chain service. No transmission fluid changes. No air filter services tied to combustion. These are not minor line items — for a gas car driven 100,000 miles, these services collectively represent $2,000–$4,000 in recurring expenses that EV owners simply do not pay.

Brake service is an area where EVs demonstrate an advantage that compounds over time. Regenerative braking uses the electric motor to decelerate the vehicle, capturing kinetic energy and returning it to the battery. Friction brakes engage only for harder stops and emergencies. EV owners routinely see brake pads and rotors last 80,000–150,000 miles compared to 30,000–70,000 miles on gas vehicles. Consumer Reports and AAA data both show EV owners spending roughly 40% less on maintenance than gas vehicle owners — approximately $900 per year less at average US mileage.

EVs do have some ownership costs that differ from gas vehicles. Tires wear faster on many EVs due to higher vehicle weight and the instant torque that encourages aggressive acceleration. Twelve-volt auxiliary batteries still need replacement every 3–5 years, at costs similar to gas vehicles. And the high-voltage battery pack represents a long-term replacement question — one that rarely materializes in practice. Modern EV batteries are warranted for 8 years or 100,000 miles by every major manufacturer, and real-world data from high-mileage fleets shows most packs retain 80%+ capacity well past 150,000 miles. Battery replacement is a theoretical risk, not a likely expense for most owners during a typical ownership period.

The Federal EV Tax Credit Situation After OBBBA

The Section 30D new clean vehicle credit — worth up to $7,500 for qualifying EVs — was terminated for vehicles acquired after September 30, 2025 by Public Law 119-21, the One Big Beautiful Bill Act signed July 4, 2025. There is no federal consumer EV purchase credit available for vehicles bought in 2026 or later under current law. This calculator shows $0 federal credit and asks you to enter your actual purchase price difference. See the IRS OBBBA FAQ for the authoritative federal guidance on the credit's termination.

OBBBA also terminated the used clean vehicle credit (Section 25E) for vehicles acquired after September 30, 2025. The used EV market had benefited from a $4,000 credit that made older EVs much more accessible — that is also gone.

What OBBBA did introduce is a new above-the-line deduction for auto loan interest on new US-assembled vehicles. Buyers may deduct up to $10,000 per year of qualifying auto loan interest through December 31, 2028, subject to income limits. This is a deduction, not a credit — it reduces your taxable income, not your tax bill dollar-for-dollar. At a 22% marginal rate, a $10,000 deduction is worth $2,200 in tax savings. It applies to both EVs and gas vehicles as long as the vehicle was assembled in the United States. This calculator does not model this deduction because its value depends on your specific loan terms and marginal tax rate. Consult a tax professional if this is relevant to your situation.

One credit that did survive OBBBA and is relevant to EV owners: the Section 30C alternative fuel vehicle refueling property credit. This covers 30% of the cost to purchase and install a Level 2 home EV charger, up to $1,000. If you install a home charger alongside an EV purchase, you may qualify for up to $1,000 back on that installation. This does not reduce the vehicle cost, but it helps offset the charging infrastructure expense. Verify eligibility at irs.gov.

When EVs Come Out Ahead — and When They Don't

The EV TCO case is strongest for high-mileage drivers. If you drive 20,000 miles per year, fuel savings compound quickly — at the example rates above, that is $1,628 per year in fuel savings, $16,280 over ten years. Combined with $900 in annual maintenance savings, a high-mileage driver can recoup a $5,000 purchase price premium in under three years. Low-mileage drivers — under 8,000 miles per year — accumulate savings slowly and may find the TCO comparison close or even negative depending on the purchase price premium.

Local energy prices matter more than most people realize. High gas prices accelerate the EV case — $4.50/gallon gas versus $0.15/kWh electricity produces dramatically different math than $2.80/gallon gas versus $0.30/kWh electricity. Before running the calculator, pull up your most recent utility bill and find the actual rate you pay per kWh, not the state average. Your actual rate may include distribution charges, fixed fees, and demand charges that make the effective rate different from the published average.

Access to home charging is arguably the most important non-financial factor. Level 2 charging at home is convenient, cheap, and fast enough for most drivers — a typical Level 2 charger adds 20–30 miles of range per hour, meaning an 8-hour overnight charge recovers 160–240 miles. If you live in an apartment without dedicated parking, or in a home without a 240V outlet near the parking area, you are looking at a charger installation project or reliance on public charging — both of which change the economics meaningfully. Get an electrician's estimate for charger installation before factoring home charging economics into your decision.

Range anxiety deserves an honest assessment. For most American driving patterns — daily commutes under 50 miles, occasional longer drives — even a 200-mile range EV is entirely adequate. The US Department of Transportation data shows that 95% of driving days involve under 30 miles. Where range anxiety is legitimate is on long road trips without a predictable fast-charging network, or in very rural areas where fast chargers are spaced more than 100 miles apart. If you regularly drive more than 250 miles in a single day, check the charging network coverage on your common routes before committing.

How to Use These Results When Shopping

The most useful output from this calculator is the breakeven year. If the calculator shows breakeven at year 4 and you plan to own the car for 7 years, you are ahead by years 5 through 7 — and likely by a significant margin given the annual savings rate. If breakeven comes at year 8 and you typically trade cars every 5 years, the math does not close on this ownership period, though the EV retains resale value that partially compensates.

Enter real numbers, not averages, to get the most accurate result. Find the actual EPA kWh/100mi figure for the specific model you are considering — it is listed on the window sticker and at fueleconomy.gov for every vehicle. Use the rate from your utility bill for electricity. Look up your current gas station's price, not the state average. Small differences in these inputs change the breakeven year by one to two years in either direction.

The calculator does not model depreciation. EVs and gas vehicles have had different depreciation trajectories, and the market is still establishing patterns for long-term EV resale value. Some high-demand EVs hold value well; others depreciate sharply as technology improves and newer models arrive. If you are financing a purchase and plan to sell or trade in before the loan is paid off, look up used market prices for the specific EV models you are considering to understand the likely equity position at your expected trade-in point.

Insurance costs for EVs are typically 10–15% higher than comparable gas vehicles, primarily because repair costs are higher and some insurers price in battery replacement risk. This is a real line item — $150–$300 per year higher insurance is worth including in your mental model even if it is not in this calculator. If you get a quote on a specific EV, ask your insurance agent for a rate comparison before finalizing your decision. The fuel and maintenance savings are usually large enough to absorb a modest insurance increase, but it is worth knowing the number.