Gas vs Electric Car Cost Calculator (5-Year TCO)
Total cost of ownership = purchase price − incentives − resale value + fuel or charging + maintenance + insurance over the years you keep the car. A $35,000 gas car at 30 MPG and 15,000 miles a year typically costs about $1,700 a year to fuel, while an equivalent EV at 3.5 mi/kWh and $0.16/kWh costs about $690 — roughly $5,000 saved over five years before maintenance and incentives.
Gas car
Electric car
| Cost over 5 years | Gas | EV |
|---|---|---|
| Net purchase price (after incentives) | $35,000.00 | $34,500.00 |
| Fuel / electricity (5 yr) | $8,500.00 | $3,428.57 |
| Maintenance (5 yr) | $6,000.00 | $3,000.00 |
| Insurance (5 yr) | $8,500.00 | $10,000.00 |
| Resale value recovered | -$15,000.00 | -$18,000.00 |
| Total cost of ownership | $43,000.00 | $32,928.57 |
Over 5 years and 75,000 miles, the EV costs about $10,071.43 less to own — roughly $2,014.29 a year.
Running costs: $4,600.00 a year for the gas car vs $3,285.71 for the EV, a saving of $1,314.29 a year. The EV also costs less upfront after incentives, so it's ahead from day one.
Estimates only. Charging at public DC fast chargers costs far more per kWh than home charging, and insurance, incentives and resale values vary widely by state and model.
Don't know your MPG?
Every vehicle on AutoSpecData lists its official EPA city, highway and combined ratings year by year. Search your vehicle or start from the fuel economy rankings.