Cost Calculator AI
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EV vs. Gas Car Cost Calculator

Compare an electric vehicle against an internal combustion engine (ICE) gas car side by side—analyzing purchase price difference, fuel vs electricity savings, maintenance, and payback period.

Gasoline Vehicle

Electric Vehicle

Calculation Results

EV vs. Gas Vehicle Break-Even Formula

Break-Even (Years) = Net Upfront EV Price Premium / Annual Operating Savings (Fuel + Maintenance)
  • Annual Fuel Savings = (Annual Miles / Gas MPG × Gas Price) − (Annual Miles / 100 × kWh/100mi × Electricity Rate).
  • Annual Maintenance Savings = Gas Routine Maintenance − EV Routine Maintenance.
  • Payback Period: The point in time when operational fuel and repair savings completely offset any higher initial EV purchase cost.

Step-by-Step Worked Example

Scenario: Comparing a $34,000 gas car (28 MPG, $3.65/gal) against a $42,000 EV ($7,500 credit, 28 kWh/100mi, $0.15/kWh)

Calculation Steps:

  1. Annual Gas Fuel Cost = (13,500 / 28) × $3.65 = $1,760.00 / year
  2. Annual EV Electricity Cost = (13,500 / 100) × 28 × $0.15 = $567.00 / year
  3. Annual Fuel Savings with EV = $1,760 − $567 = $1,193.00 / year
  4. Annual Maintenance Savings = $900 − $450 = $450.00 / year
  5. Net Annual Operating Advantage = $1,193 + $450 − $200 (insurance delta) = $1,443.00 / year
  6. Initial Price Difference = $35,500 − $34,000 = $1,500.00
  7. Break-Even Period = $1,500 / $1,443 = 1.04 Years (14,000 Miles)
Result: The EV breaks even in approximately 1.0 year, delivering over $5,700 in net savings across 5 years of ownership.

How to Use This Calculator

  1. 1Enter purchase prices, incentives, and financing for both vehicles.
  2. 2Specify fuel economy (MPG for gas, kWh/100mi for EV) and local utility rates.
  3. 3Input insurance and maintenance assumptions for each car.
  4. 4Examine the break-even years, break-even mileage, and 5-year cost curves.

Assumptions & Limitations

  • Assumes steady gasoline prices and stable residential electric rates over the timeframe.

Frequently Asked Questions

When does a gas car make more financial sense than an EV?

A gas car may be more economical if you drive very low annual mileage (under 6,000 miles/year), do not have access to cheap home charging (relying solely on expensive public DC fast chargers), or live in an area with unusually high electricity rates (e.g. >$0.35/kWh).

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