EV vs gas
EV Total Cost of Ownership Calculator
Compare a new or used EV against an equivalent gas vehicle over 5, 8, or 10 years. Includes purchase, federal 30D/25E credits (for vehicles acquired on or before 2025-09-30), state EV credit, electricity (state-aware), gas, maintenance, insurance, and depreciation.
Quick answer: for a typical 12,000-mi/yr driver of a $42,000 EV vs $32,000 gas sedan, EVs save $2,000–$8,000 over 8 years on fuel + maintenance alone. Federal 30D/25E credits expired for vehicles acquired after 2025-09-30 (OBBBA). State credits (CO $5,000, CT $4,250, NJ $4,000) and historical 30D for pre-cutoff acquisitions can close more of the gap.
Optional — auto-detects state
30D + 25E credits ended for vehicles acquired after 2025-09-30 (OBBBA).
8-year total cost of ownership · California
EV ($42,000 net)
$52,486
over 8 years
Gas ($32,000 net)
$50,226
over 8 years
EV costs more over hold period
-$2,260
Breakeven: 15.2 years · annual fuel savings ~$89 · annual maintenance savings ~$720
EV breakdown
- Purchase price$42,000
- Federal 30D credit−$0
- State EV credit−$0
- Net purchase$42,000
- Charging cost (0.34/kWh × 8 yr)$9,792
- Maintenance (8 yr)$4,320
- Insurance (8 yr)$13,200
- Depreciation$25,174
CVRP rebate paused 2023; CalCAP-EV and CC4A income-tested replacements available
Gas breakdown
- Purchase price$32,000
- Net purchase$32,000
- Fuel cost ($3.5/gal × 8 yr)$10,500
- Maintenance (8 yr)$10,080
- Insurance (8 yr)$12,000
- Depreciation$17,646
Things this calculator doesn't include
- · Home Level 2 charger install (typically $800–$2,800 — see EV charger calculator).
- · Time-of-use electricity rates (most utilities offer EV-friendly TOU plans with 8-12¢/kWh overnight).
- · Public DC fast-charging premium ($0.35-0.55/kWh) for road trips.
- · State vehicle registration fee surcharges some states levy on EVs ($100–$250/year).
New to EV total-cost-of-ownership math?
Total cost of ownership (TCO) is the right way to compare EV and gas vehicles because the sticker prices tell only part of the story. EVs cost more up front but typically save $0.05-$0.08 per mile in fuel and another $0.05-$0.06 per mile in maintenance. Over 8-10 years that’s $10,000–$20,000 in operating cost differential. The federal 30D/25E credits expired for vehicles acquired after 2025-09-30; state EV credits and operating savings carry the math now. Break-even depends on annual miles, electricity rate, gas price, and state credit availability.
Read the full guide → 11-min read · 30D mechanics · charging cost · maintenance · depreciation · home charger install · road-trip economics
Frequently asked questions
Is an EV cheaper than a gas car over 8 years?
For most U.S. drivers, yes — by roughly $2,000–$8,000 over 8 years at 12,000 mi/yr, depending on state. EVs save $0.05-$0.08/mi in fuel and $0.05-$0.06/mi in maintenance. The federal 30D/25E credits expired for vehicles acquired after 2025-09-30, so 2026-onward purchases rely on state credits (CO $5,000, CT $4,250, NJ $4,000) to close the purchase-price gap. The math gets harder for low-mileage drivers (<7,000 mi/yr) and states with cheap gas + expensive electricity.
Is there a federal EV tax credit in 2026?
No. The Clean Vehicle Credits (30D for new, 25E for used) were terminated by OBBBA for vehicles acquired after 2025-09-30. Vehicles with an acquisition date on or before 2025-09-30 may still qualify on the buyer's tax return. New: up to $7,500 with income + MSRP caps. Used: 30% of price up to $4,000. Source: https://www.irs.gov/clean-vehicle-tax-credits.
How much does it cost to charge an EV at home?
About $0.04-$0.06 per mile in most states. Math: 0.30 kWh/mi × $0.16/kWh = $0.048/mi. Many utilities offer EV-friendly time-of-use plans with overnight rates of $0.08-$0.12/kWh, cutting cost to $0.024-$0.036/mi. Compare to a 32 MPG gas car at $3.50/gal: $0.109/mi.
Do EVs really need less maintenance?
Yes. No oil changes, no spark plugs, no timing belts, no exhaust, no transmission fluid (single-speed gearbox), regenerative braking dramatically extends brake-pad life. Consumer Reports 2024 data: EV maintenance averages $0.045/mile vs $0.105/mile for ICE — a $720/year difference at 12,000 miles. The exception is tires (heavier vehicles, instant torque) which wear ~15% faster.
What about depreciation?
EVs historically depreciated faster than ICE due to range anxiety, battery uncertainty, and rapid tech turnover. The 2023-2025 used market normalized things: post-2023 model years with longer warranties (battery 8 yr / 100K mi) and proven service histories hold value better. Tesla Model 3 and Model Y have year-5 residuals around 55-62% of MSRP; F-150 Lightning closer to 50% (more uncertainty); luxury EVs (Lucid, Mercedes EQS) underperformed at 40-50%.