Rex says
Money math without the spreadsheet headache. Plug in your numbers and I'll show you exactly where the dollars land.
Try a scenario
Click to load — tweak from there.Inputs
Result
Years to break even
0.4
Net upfront price difference
$500
Annual running-cost savings
$1,400
Net savings after 5 years
$6,500
Net savings after 10 years
$13,500
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One click, a permanent link with your numbers baked in.
How to use this
- 1Enter ev purchase price ($).
- 2Enter comparable gas car price ($).
- 3Enter ev tax credit/incentive ($).
- 4Enter annual miles driven.
- 5Enter ev cost per mile (fuel) ($).
- 6Enter gas cost per mile (fuel) ($).
- 7Enter annual maintenance savings (ev vs gas) ($).
- 8Read your years to break even on the right — it updates as you type.
- 9Hit Share to keep the scenario or send it to someone.
About this calculator
Compares total cost of ownership between an EV and a comparable gas vehicle over your ownership period, combining the purchase price gap, fuel/electricity cost difference, and maintenance savings (EVs have no oil changes, fewer moving parts, and regenerative braking that extends brake life 2-3x). It nets out any point-of-sale or tax-credit incentive on the EV price. This is the calculation that matters more than sticker price alone — many EVs cost more upfront but cross over to cheaper total ownership within 3-5 years purely on fuel and maintenance savings, especially for high-mileage drivers.
Worked example
Using the values the calculator loads with:
Inputs
- EV purchase price: 42000 $
- Comparable gas car price: 34000 $
- EV tax credit/incentive: 7500 $
- Annual miles driven: 12000
- EV cost per mile (fuel): 0.045 $
- Gas cost per mile (fuel): 0.12 $
- Annual maintenance savings (EV vs gas): 500 $
Results
- Years to break even: 0.4
- Net upfront price difference: $500
- Annual running-cost savings: $1,400
- Net savings after 5 years: $6,500
- Net savings after 10 years: $13,500
What each field means
Inputs
- EV purchase price ($)
- The ev purchase price used in the calculation, measured in $. Starts at 42000 $ so you have a working example on load.
- Comparable gas car price ($)
- The comparable gas car price used in the calculation, measured in $. Starts at 34000 $ so you have a working example on load.
- EV tax credit/incentive ($)
- The ev tax credit/incentive used in the calculation, measured in $. Starts at 7500 $ so you have a working example on load.
- Annual miles driven
- The annual miles driven used in the calculation. Starts at 12000 so you have a working example on load.
- EV cost per mile (fuel) ($)
- The ev cost per mile (fuel) used in the calculation, measured in $. Starts at 0.045 $ so you have a working example on load. Accepted range: 0.01–0.3 $.
- Gas cost per mile (fuel) ($)
- The gas cost per mile (fuel) used in the calculation, measured in $. Starts at 0.12 $ so you have a working example on load. Accepted range: 0.01–0.5 $.
- Annual maintenance savings (EV vs gas) ($)
- The annual maintenance savings (ev vs gas) used in the calculation, measured in $. Starts at 500 $ so you have a working example on load.
Results
- Years to break even
- Returned as a decimal number and shown as the headline result. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Net upfront price difference
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Annual running-cost savings
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Net savings after 5 years
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Net savings after 10 years
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
FAQ
Is the federal EV tax credit still available?
Eligibility depends on income limits, vehicle price caps, and battery-sourcing requirements that have changed several times since 2023 — check current IRS and fueleconomy.gov listings for your specific model before assuming the full $7,500 applies. Point-of-sale credits at dealerships apply the discount immediately rather than at tax time.
How much do EVs really save on maintenance?
No oil changes, no transmission fluid, no spark plugs, and regenerative braking that can triple brake pad life adds up to real savings — Consumer Reports and AAA studies put EV maintenance at roughly 30-50% lower than comparable gas vehicles over 5 years, though tire wear can be slightly higher due to instant torque and battery weight.
Does depreciation matter for this comparison?
It can be significant and isn't included here. Some EV models have depreciated faster than gas equivalents due to fast-improving battery tech and price cuts on new models; others (especially popular used EVs with strong range) hold value well. Check specific model resale data separately if you plan to sell before the loan is paid off.
What if I drive fewer than 8,000 miles a year?
Low annual mileage shrinks the fuel-savings advantage substantially since that's the main lever favoring EVs — at very low mileage, the upfront price gap may never fully close within a typical ownership period, making the decision more about preference than pure economics.
Accuracy and limitations
- Results are estimates before tax, fees, and inflation unless an input explicitly covers them.
- Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.
- This is educational maths, not financial advice. Check anything contractual with the lender or your accountant.
Related tools
Cite this calculator
Writing about this topic? Grab a citation — every link helps keep these tools free.
RevenueLab. (2026). EV vs Gas Total Cost of Ownership Calculator. Retrieved from https://www.revenuelab.fyi/toolbox/ev-vs-gas-total-cost
<p>Source: <a href="https://www.revenuelab.fyi/toolbox/ev-vs-gas-total-cost" target="_blank" rel="noopener">EV vs Gas Total Cost of Ownership Calculator — RevenueLab</a> (2026).</p>
Source: [EV vs Gas Total Cost of Ownership Calculator — RevenueLab](https://www.revenuelab.fyi/toolbox/ev-vs-gas-total-cost) (2026).