How to use this calculator
Enter the purchase prices for both vehicles, then adjust the fuel and maintenance costs to match your situation. The calculator uses your annual mileage and ownership period to compute total cost of ownership for each option.
The default values represent typical U.S. averages: $0.17/kWh for home electricity, $3.50/gallon for gas, 3.5 miles per kWh for EV efficiency, and 28 MPG for a gas car. Adjust these to match your local prices and the specific vehicles you're comparing.
Average costs: EV vs Gas
| Cost Category | Electric Vehicle | Gas Vehicle |
|---|---|---|
| Fuel / energy (annual) | $400 to $700 | $1,200 to $2,500 |
| Maintenance (annual) | $300 to $700 | $1,000 to $1,800 |
| Oil changes | $0 | $150 to $300/yr |
| Brake replacement | Less frequent (regen braking) | Every 30,000 to 50,000 mi |
| Battery / engine | Warranty 8yr/100k mi | Varies by vehicle |
| Registration fees | Higher in some states | Standard |
EV incentives in 2026
The $7,500 federal EV tax credit for new vehicle purchases expired for most buyers after September 30, 2025. Buyers who entered into a binding written contract and made a payment before that cutoff may still be able to claim the credit when the vehicle is delivered. If you have a qualifying contract, enter the credit amount in the calculator above.
Some state and local incentives may still be available depending on where you live. Check your state's energy office website for current programs. The calculator includes a state incentive field so you can factor in any local rebates or credits that apply to your purchase.
The federal Alternative Fuel Vehicle Refueling Property Credit (Section 30C) still provides up to $1,000 for qualifying home EV charger installations through June 30, 2026. While this does not reduce the vehicle price, it can offset your charging setup costs.
Frequently asked questions
Is an electric car really cheaper than a gas car?
In most cases, yes over the full ownership period. While EVs often cost more upfront, their lower fuel and maintenance costs typically result in savings of $3,000 to $10,000 over 5 years. Federal and state incentives can further close the price gap.
How much does it cost to charge an EV vs filling up with gas?
At the national average electricity rate of $0.17/kWh and an efficiency of 3.5 miles per kWh, driving 12,000 miles per year costs about $583 in electricity. The same distance in a 28 MPG gas car at $3.50/gallon costs about $1,500, nearly three times as much.
Is the federal EV tax credit still available in 2026?
The $7,500 federal EV tax credit expired for most new vehicle purchases after September 30, 2025. Buyers who signed a binding contract and made a payment before that date may still claim it. Some state and local incentives may still be available depending on where you live.
How long does it take for an EV to pay for itself?
The breakeven point depends on the price difference between the EV and gas car, fuel costs in your area, and any available incentives. Typically, EVs break even in 3 to 7 years based on lower fuel and maintenance costs alone. Without the federal credit, the timeline may be slightly longer but the operating savings remain significant.