EV vs. Gas Cost Calculator
For a typical US driver, an electric car usually pays off versus gas within 3–6 years once fuel savings and incentives are counted. Enter your mileage, prices, and the EV credit below to find your break-even year and lifetime savings.
Assumptions & advanced options
Over 8 years
EV saves $2,803
EV breaks even in 4.9 years
EV total cost
$39,026
Gas total cost
$41,829
Data updated: . Sources: EIA gas prices, AFDC
How this comparison works
We add each vehicle's purchase price (minus any EV incentive) to its running cost over your ownership period. Gas running cost is annual miles ÷ mpg × gas price; EV running cost is annual miles ÷ miles-per-kWh × electricity rate. The break-even year is when the EV's cumulative cost drops below the gas car's.
Frequently asked questions
- Is an electric car cheaper than gas overall?
- For most US drivers, an EV has a higher purchase price but lower running costs, and comes out cheaper over 5 to 10 years once fuel and incentives are counted. The exact break-even depends on your annual mileage, electricity rate, and gas price — the calculator above works it out for your numbers.
- How much does it cost to charge an EV vs. fill a gas tank?
- Charging at home is usually far cheaper per mile than gasoline. At 16.5¢/kWh and 3.5 miles per kWh, electricity costs about 4.7¢/mile, versus roughly 12¢/mile for a 28 mpg car at $3.45/gallon.
- Does the federal EV tax credit change the math?
- Yes. The US Clean Vehicle Credit (up to $7,500) directly lowers the EV's effective purchase price and shortens the break-even point. Enter the credit you qualify for in the calculator.