Electric car vs gas car cost: which is cheaper?
This calculator compares electric car vs gas car cost using your own numbers: enter purchase prices, miles driven, electricity and fuel prices, insurance and resale value. You get the total cost over the years you keep the car, the cost per mile and the year the electric car starts to pay off.
Source: Wikipedia – Total cost of ownership. Updated: .
How it is calculated
An electric car pays off when its lower running costs make up for the higher purchase price. The calculator shows after how many years that happens – and what each car costs over the whole time you keep it.
How it is calculated
- Energy per year: miles ÷ 100 × consumption × price, with the yearly price increase you set.
- Cash outlay: purchase price (minus any incentive for the electric car) plus energy, insurance, registration and maintenance for each year. This is what the chart shows.
- Total cost: cash outlay minus resale value at the end. Divided by the miles driven it gives the cost per mile.
- Crossover point: the moment the cash outlay of both cars is equal.
What moves the result most
- Where you charge: home charging is usually far cheaper than public fast chargers – enter a blended price.
- Mileage: the more you drive, the sooner the electric car makes up the price gap.
- Resale value: the biggest unknown; try several values.
Every figure is your assumption, not a forecast. Incentives, taxes and prices change – enter only what applies to you today. Your entries stay in your browser.
Frequently asked questions
Is an electric car cheaper than a gas car?
It depends on purchase price, mileage and electricity price. With many miles and home charging, lower running costs often make up the higher price; with few miles it takes longer.
When does an electric car pay off?
In the year its cash outlay (purchase plus running costs) drops below that of the gas car. The calculator shows this crossover point.
What is the cost per mile of an electric car?
Total cost divided by all miles driven. The result shows it for both cars, including depreciation, energy, insurance, registration and maintenance.
How much depreciation should I assume?
It is an estimate: check used-car listings for same-age models and enter that share of the purchase price. Try more than one value.
Do I have to enter an incentive?
No. Enter only what currently applies to your model; otherwise leave 0. The issuing agency can tell you the amount.
Are my entries private?
Yes. Everything is calculated in your browser; nothing is uploaded.
Sources and legal basis
As of: · Editorial policy
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