Budgeting & Income
EV vs Gas Car Cost Calculator
Charging is usually cheaper per mile than filling a tank, but the gap depends on four numbers that vary enormously by household: your mileage, your electricity rate, the pump price, and how efficient each vehicle actually is.
Most EVs manage 3–4 mi/kWh; cold weather and highway speeds reduce it.
Home charging. Public fast charging often costs two to three times more.
How much more the EV costs upfront, after any incentives.
Annual fuel saving with the EV
$817
Electricity versus gasoline for the same miles.
- EV energy cost per year
- $583
- Gasoline cost per year
- $1,400
- Years to recoup the price premium
- 6.1
Fuel savings only — before maintenance differences.
How this calculator works
EV cost = (annual miles ÷ miles per kWh) × electricity price. Gasoline cost = (annual miles ÷ MPG) × price per gallon. Payback divides the price premium by the annual difference.
Fuel and electricity only: insurance, maintenance, depreciation, and registration are excluded, and all prices are held constant. Real-world EV efficiency drops in cold weather and at highway speed, so a conservative miles-per-kWh figure gives a more honest comparison.
Try an example
Frequently asked questions
Is an EV actually cheaper to run?
On home charging, almost always — electricity at typical residential rates works out to roughly a third of what gasoline costs per mile. The picture narrows if you rely on public fast charging, which can cost two to three times home rates, or if your electricity is unusually expensive.
What about maintenance?
EVs skip oil changes, spark plugs, timing belts, exhaust systems, and most brake wear (regenerative braking does the work). Studies consistently put EV maintenance meaningfully lower over the life of the car. This calculator counts fuel only, so it understates the total gap.
Does battery replacement wreck the maths?
It is the common worry and rarely the common outcome. Batteries are warranted for at least eight years or 100,000 miles in the US, and most degrade gradually rather than failing. Replacement is expensive if it happens outside warranty, which is worth weighing against the yearly savings above.
Should I include tax credits in the price premium?
Yes — enter the premium after any federal, state, or utility incentive you will actually receive, since that is the money genuinely at stake. Incentives change often and eligibility depends on income, the vehicle, and where it was assembled, so check current rules before relying on one.
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Disclaimer: DayCents provides this calculator for educational purposes only. Results are estimates based on your inputs and the stated assumptions — they are not financial advice, a quote, or an offer of credit. Consult a qualified financial professional before making major money decisions.